Geneva Capital Management LLC Purchases 22,287 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Key Points

• Geneva Capital Management LLC increased its stake in EPAM Systems by 33.6%, owning 88,612 shares worth approximately $14.96 million.
• The company's stock recently reported a quarterly earnings per share of $2.41, surpassing analysts' estimates of $2.27, with a revenue of $1.30 billion.
• EPAM Systems has received a mix of rating changes from analysts, with some upgrading the stock to a "buy" rating while others adjusted price targets downward.

Geneva Capital Management LLC raised its stake in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 33.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 88,612 shares of the information technology services provider's stock after purchasing an additional 22,287 shares during the period. Geneva Capital Management LLC owned 0.16% of EPAM Systems worth $14,961,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC raised its holdings in EPAM Systems by 2,500.0% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 130 shares of the information technology services provider's stock worth $30,000 after purchasing an additional 125 shares in the last quarter. Sentry Investment Management LLC acquired a new stake in EPAM Systems during the first quarter worth about $33,000. CX Institutional purchased a new stake in shares of EPAM Systems in the 1st quarter valued at approximately $42,000. First Horizon Advisors Inc. increased its stake in shares of EPAM Systems by 79.5% during the first quarter. First Horizon Advisors Inc. now owns 481 shares of the information technology services provider's stock worth $81,000 after buying an additional 213 shares during the period. Finally, IFP Advisors Inc increased its position in shares of EPAM Systems by 149.2% during the first quarter. IFP Advisors Inc now owns 785 shares of the information technology services provider's stock worth $133,000 after purchasing an additional 470 shares in the last quarter. Hedge funds and other institutional investors own 91.58% of the company's stock.

Analyst Ratings Changes

EPAM has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft started coverage on shares of EPAM Systems in a research note on Thursday, July 17th. They issued a "hold" rating and a $171.00 target price for the company. Morgan Stanley lowered their price objective on shares of EPAM Systems from $250.00 to $210.00 and set an "equal weight" rating for the company in a research report on Friday, May 9th. Susquehanna lowered their price target on EPAM Systems from $270.00 to $210.00 and set a "positive" rating for the company in a report on Wednesday, April 23rd. Stifel Nicolaus reduced their target price on shares of EPAM Systems from $275.00 to $240.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Finally, Wall Street Zen upgraded shares of EPAM Systems from a "hold" rating to a "buy" rating in a research report on Saturday. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $231.73.

EPAM Systems Stock Performance

EPAM traded up $2.15 during midday trading on Wednesday, reaching $151.48. The company's stock had a trading volume of 1,177,199 shares, compared to its average volume of 605,618. The company has a current ratio of 3.06, a quick ratio of 3.06 and a debt-to-equity ratio of 0.01. EPAM Systems, Inc. has a twelve month low of $138.15 and a twelve month high of $269.00. The company has a fifty day simple moving average of $171.04 and a 200 day simple moving average of $185.93. The stock has a market cap of $8.58 billion, a P/E ratio of 21.19, a PEG ratio of 2.22 and a beta of 1.67.

EPAM Systems (NYSE:EPAM - Get Free Report) last issued its earnings results on Thursday, May 8th. The information technology services provider reported $2.41 EPS for the quarter, topping the consensus estimate of $2.27 by $0.14. The firm had revenue of $1.30 billion during the quarter, compared to analysts' expectations of $1.28 billion. EPAM Systems had a return on equity of 14.15% and a net margin of 8.47%. EPAM Systems's quarterly revenue was up 11.7% compared to the same quarter last year. During the same period last year, the business earned $2.46 earnings per share. Research analysts expect that EPAM Systems, Inc. will post 8.9 earnings per share for the current year.

EPAM Systems Profile

EPAM Systems, Inc provides digital platform engineering and software development services worldwide. The company offers engineering services, including requirements analysis and platform selection, customization, cross-platform migration, implementation, and integration; infrastructure management services, such as software development, testing, performance tuning, deployment, maintenance, and support services.