EPAM Systems, Inc. (NYSE:EPAM) Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB grew its holdings in EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 25.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,300 shares of the information technology services provider's stock after acquiring an additional 3,500 shares during the period. Handelsbanken Fonder AB's holdings in EPAM Systems were worth $2,921,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in EPAM. EverSource Wealth Advisors LLC grew its holdings in EPAM Systems by 90.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider's stock valued at $27,000 after purchasing an additional 54 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in EPAM Systems by 2,500.0% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 130 shares of the information technology services provider's stock valued at $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 1st quarter valued at $33,000. TD Private Client Wealth LLC grew its holdings in EPAM Systems by 88.5% during the 4th quarter. TD Private Client Wealth LLC now owns 147 shares of the information technology services provider's stock valued at $34,000 after purchasing an additional 69 shares in the last quarter. Finally, Manchester Capital Management LLC grew its holdings in EPAM Systems by 590.0% during the 4th quarter. Manchester Capital Management LLC now owns 207 shares of the information technology services provider's stock valued at $48,000 after purchasing an additional 177 shares in the last quarter. Hedge funds and other institutional investors own 91.58% of the company's stock.

EPAM Systems Stock Performance

Shares of NYSE EPAM traded down $5.40 during midday trading on Friday, hitting $170.44. The company's stock had a trading volume of 549,825 shares, compared to its average volume of 700,787. EPAM Systems, Inc. has a 1-year low of $138.15 and a 1-year high of $269.00. The firm's fifty day moving average price is $167.13 and its 200-day moving average price is $203.92. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 2.96. The firm has a market cap of $9.66 billion, a P/E ratio of 21.74, a P/E/G ratio of 3.38 and a beta of 1.72.

EPAM Systems (NYSE:EPAM - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The information technology services provider reported $2.41 EPS for the quarter, beating the consensus estimate of $2.27 by $0.14. EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the business posted $2.46 EPS. The company's quarterly revenue was up 11.7% on a year-over-year basis. On average, sell-side analysts forecast that EPAM Systems, Inc. will post 8.9 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Barclays raised their price target on shares of EPAM Systems from $200.00 to $215.00 and gave the company an "overweight" rating in a report on Monday, May 12th. Scotiabank lowered their price target on shares of EPAM Systems from $250.00 to $200.00 and set a "sector outperform" rating for the company in a report on Tuesday, April 29th. Piper Sandler raised their price target on shares of EPAM Systems from $170.00 to $194.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Guggenheim raised their price objective on shares of EPAM Systems from $210.00 to $215.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Finally, Susquehanna decreased their price objective on shares of EPAM Systems from $270.00 to $210.00 and set a "positive" rating for the company in a report on Wednesday, April 23rd. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, EPAM Systems presently has a consensus rating of "Moderate Buy" and a consensus price target of $233.93.

About EPAM Systems

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.