Kentucky Retirement Systems Insurance Trust Fund bought a new stake in EPAM Systems, Inc. (NYSE:EPAM - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,588 shares of the information technology services provider's stock, valued at approximately $268,000.
Several other hedge funds have also made changes to their positions in EPAM. Brighton Jones LLC acquired a new position in EPAM Systems in the fourth quarter worth about $218,000. Atria Wealth Solutions Inc. raised its position in EPAM Systems by 38.4% in the fourth quarter. Atria Wealth Solutions Inc. now owns 1,889 shares of the information technology services provider's stock worth $442,000 after purchasing an additional 524 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in EPAM Systems by 12.2% in the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 11,983 shares of the information technology services provider's stock worth $2,802,000 after purchasing an additional 1,300 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in EPAM Systems in the fourth quarter worth about $1,178,000. Finally, Illinois Municipal Retirement Fund raised its position in EPAM Systems by 9.5% in the fourth quarter. Illinois Municipal Retirement Fund now owns 36,566 shares of the information technology services provider's stock worth $8,550,000 after purchasing an additional 3,184 shares in the last quarter. Institutional investors own 91.58% of the company's stock.
Analysts Set New Price Targets
Several research firms recently issued reports on EPAM. Stifel Nicolaus dropped their price target 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. Wall Street Zen lowered shares of EPAM Systems from a "buy" rating to a "hold" rating in a research report on Saturday, April 12th. Susquehanna dropped 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. Guggenheim lifted their target price on shares of EPAM Systems from $210.00 to $215.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Finally, Piper Sandler lifted their target price on shares of EPAM Systems from $170.00 to $194.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $233.93.
Read Our Latest Research Report on EPAM
EPAM Systems Price Performance
Shares of EPAM Systems stock traded up $0.90 during midday trading on Friday, reaching $174.90. The company had a trading volume of 972,227 shares, compared to its average volume of 685,317. The company has a current ratio of 3.06, a quick ratio of 3.06 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $9.91 billion, a price-to-earnings ratio of 24.46, a price-to-earnings-growth ratio of 2.30 and a beta of 1.72. The stock has a fifty day simple moving average of $171.08 and a 200 day simple moving average of $198.02. EPAM Systems, Inc. has a 1-year low of $138.15 and a 1-year high of $269.00.
EPAM Systems (NYSE:EPAM - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The information technology services provider reported $2.41 earnings per share for the quarter, beating analysts' consensus estimates of $2.27 by $0.14. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.28 billion. EPAM Systems had a net margin of 8.47% and a return on equity of 14.15%. EPAM Systems's revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.46 earnings per share. As a group, equities research analysts forecast that EPAM Systems, Inc. will post 8.9 earnings per share for the current year.
EPAM Systems Company Profile
(
Free Report)
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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