Inspire Advisors LLC Grows Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Key Points

• Inspire Advisors LLC has significantly increased its position in EPAM Systems by 383.1%, owning 13,899 shares valued at approximately $2.35 million as of the latest SEC filing.
• EPAM Systems reported better-than-expected earnings of $2.41 EPS for the last quarter, surpassing analysts' estimates, with a revenue of $1.30 billion, up 11.7% year-over-year.
• Several institutions have shifted their stakes in EPAM, with hedge funds holding 91.58% of the company's stock, reflecting strong institutional interest in the firm.

Inspire Advisors LLC grew its stake in EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 383.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,899 shares of the information technology services provider's stock after buying an additional 11,022 shares during the quarter. Inspire Advisors LLC's holdings in EPAM Systems were worth $2,347,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Capital World Investors boosted its stake in EPAM Systems by 22.0% during the fourth quarter. Capital World Investors now owns 2,304,243 shares of the information technology services provider's stock valued at $538,778,000 after buying an additional 414,942 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of EPAM Systems by 39.8% in the 4th quarter. Ameriprise Financial Inc. now owns 2,181,143 shares of the information technology services provider's stock worth $510,053,000 after acquiring an additional 620,551 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of EPAM Systems by 98.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,628,304 shares of the information technology services provider's stock valued at $274,923,000 after buying an additional 809,423 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of EPAM Systems by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 1,349,088 shares of the information technology services provider's stock valued at $314,616,000 after buying an additional 37,119 shares during the last quarter. Finally, Ninety One UK Ltd acquired a new position in shares of EPAM Systems during the first quarter valued at about $186,280,000. Institutional investors own 91.58% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on EPAM. Wall Street Zen lowered EPAM Systems from a "buy" rating to a "hold" rating in a report on Friday, July 18th. Piper Sandler increased their price objective on EPAM Systems from $170.00 to $194.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Needham & Company LLC boosted their target price on shares of EPAM Systems from $185.00 to $215.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Stifel Nicolaus decreased 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 report on Friday, May 2nd. Finally, Scotiabank dropped their target price on EPAM Systems from $250.00 to $200.00 and set a "sector outperform" rating on the stock in a report on Tuesday, April 29th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $231.73.

EPAM Systems Trading Down 0.7%

Shares of EPAM traded down $1.24 during trading hours on Monday, reaching $169.50. The stock had a trading volume of 357,045 shares, compared to its average volume of 536,388. The company has a quick ratio of 3.06, a current ratio of 3.06 and a debt-to-equity ratio of 0.01. EPAM Systems, Inc. has a 52 week low of $138.15 and a 52 week high of $269.00. The firm has a 50-day moving average of $174.03 and a 200 day moving average of $188.99. The company has a market cap of $9.60 billion, a P/E ratio of 19.51, a P/E/G ratio of 2.41 and a beta of 1.70.

EPAM Systems (NYSE:EPAM - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The information technology services provider reported $2.41 EPS for the quarter, topping analysts' consensus estimates of $2.27 by $0.14. The company 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 company's quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.46 EPS. On average, sell-side analysts expect that EPAM Systems, Inc. will post 8.9 earnings per share for the current fiscal 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.