Illinois Municipal Retirement Fund Has $2.03 Million Stock Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Illinois Municipal Retirement Fund decreased its position in EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 67.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,031 shares of the information technology services provider's stock after selling 24,535 shares during the quarter. Illinois Municipal Retirement Fund's holdings in EPAM Systems were worth $2,031,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. American Century Companies Inc. grew its holdings in EPAM Systems by 35.8% in the 4th quarter. American Century Companies Inc. now owns 20,597 shares of the information technology services provider's stock valued at $4,816,000 after buying an additional 5,435 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of EPAM Systems by 518.9% in the first quarter. SG Americas Securities LLC now owns 6,950 shares of the information technology services provider's stock worth $1,173,000 after acquiring an additional 5,827 shares during the last quarter. Fifth Third Bancorp increased its position in EPAM Systems by 6.1% during the first quarter. Fifth Third Bancorp now owns 1,572 shares of the information technology services provider's stock worth $265,000 after acquiring an additional 91 shares during the period. DnB Asset Management AS increased its position in EPAM Systems by 26.4% during the fourth quarter. DnB Asset Management AS now owns 11,245 shares of the information technology services provider's stock worth $2,629,000 after acquiring an additional 2,349 shares during the period. Finally, CX Institutional acquired a new position in EPAM Systems during the 1st quarter valued at $42,000. 91.58% of the stock is currently owned by institutional investors and hedge funds.

EPAM Systems Stock Up 0.5%

Shares of NYSE EPAM opened at $174.90 on Monday. EPAM Systems, Inc. has a 52-week low of $138.15 and a 52-week high of $269.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.06 and a current ratio of 3.06. The business has a fifty day moving average of $171.08 and a two-hundred day moving average of $198.02. The stock has a market cap of $9.91 billion, a PE ratio of 24.46, a PEG ratio of 2.30 and a beta of 1.72.

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on EPAM. Needham & Company LLC raised their price target on shares of EPAM Systems from $185.00 to $215.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Susquehanna reduced their target price on shares of EPAM Systems from $270.00 to $210.00 and set a "positive" rating for the company in a research note on Wednesday, April 23rd. Wall Street Zen lowered EPAM Systems from a "buy" rating to a "hold" rating in a research note on Saturday, April 12th. Piper Sandler upped their price target on EPAM Systems from $170.00 to $194.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Finally, Morgan Stanley decreased their price objective on EPAM Systems from $250.00 to $210.00 and set an "equal weight" rating on the stock in a report on Friday, May 9th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average 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.

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