Hsbc Holdings PLC Purchases 3,306 Shares of EPAM Systems, Inc. $EPAM

Key Points

• Hsbc Holdings PLC increased its stake in EPAM Systems by 1.4% in Q1 2023, acquiring an additional 3,306 shares, bringing its total ownership to approximately 243,500 shares valued at $41 million.
• Several hedge funds have also recently adjusted their positions in EPAM Systems, indicating strong institutional interest, with 91.58% of the stock owned by institutional investors.
• Analysts have set new price targets for EPAM Systems, with a consensus average target of $226.25, while the company reported earnings of $2.77 per share, exceeding expectations.

Hsbc Holdings PLC increased its position in EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 1.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 243,500 shares of the information technology services provider's stock after buying an additional 3,306 shares during the quarter. Hsbc Holdings PLC owned about 0.43% of EPAM Systems worth $41,022,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Northern Trust Corp raised its position in EPAM Systems by 5.6% in the first quarter. Northern Trust Corp now owns 559,283 shares of the information technology services provider's stock valued at $94,429,000 after purchasing an additional 29,668 shares during the period. Raymond James Financial Inc. raised its position in EPAM Systems by 19.3% in the first quarter. Raymond James Financial Inc. now owns 142,477 shares of the information technology services provider's stock valued at $24,056,000 after purchasing an additional 23,084 shares during the period. Cresset Asset Management LLC raised its position in EPAM Systems by 8.9% in the first quarter. Cresset Asset Management LLC now owns 1,638 shares of the information technology services provider's stock valued at $277,000 after purchasing an additional 134 shares during the period. Aberdeen Group plc raised its position in EPAM Systems by 62.3% in the first quarter. Aberdeen Group plc now owns 41,831 shares of the information technology services provider's stock valued at $6,955,000 after purchasing an additional 16,058 shares during the period. Finally, Liontrust Investment Partners LLP purchased a new position in EPAM Systems in the first quarter valued at about $6,486,000. 91.58% of the stock is owned by hedge funds and other institutional investors.

EPAM Systems Price Performance

EPAM traded up $3.75 during trading on Wednesday, reaching $174.03. The stock had a trading volume of 311,316 shares, compared to its average volume of 749,015. The firm has a market capitalization of $9.69 billion, a price-to-earnings ratio of 24.80, a price-to-earnings-growth ratio of 2.50 and a beta of 1.67. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 0.01. EPAM Systems, Inc. has a 1-year low of $138.15 and a 1-year high of $269.00. The stock has a 50 day moving average of $167.36 and a two-hundred day moving average of $176.72.

EPAM Systems (NYSE:EPAM - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The information technology services provider reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.61 by $0.16. The company had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $1.33 billion. EPAM Systems had a return on equity of 14.00% and a net margin of 7.91%.The firm's revenue was up 18.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.45 earnings per share. EPAM Systems has set its FY 2025 guidance at 10.960-11.120 EPS. Q3 2025 guidance at 2.980-3.060 EPS. As a group, equities analysts anticipate that EPAM Systems, Inc. will post 8.9 EPS for the current fiscal year.

Analysts Set New Price Targets

EPAM has been the topic of several research reports. Barclays raised their price objective on EPAM Systems from $200.00 to $215.00 and gave the company an "overweight" rating in a research report on Monday, May 12th. Stifel Nicolaus dropped their target price on EPAM Systems from $275.00 to $240.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Needham & Company LLC lifted their target price on EPAM Systems from $185.00 to $215.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Wall Street Zen raised EPAM Systems from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, Cowen raised EPAM Systems from a "hold" rating to a "buy" rating in a research report on Monday, August 18th. Thirteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $226.25.

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.