LPL Financial LLC Sells 5,409 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Key Points

• LPL Financial LLC has reduced its holdings in EPAM Systems, Inc. by 16.8%, selling 5,409 shares and now owning 26,698 shares worth approximately $4.5 million.
• In the most recent quarter, EPAM Systems reported $2.77 earnings per share, exceeding analysts' expectations, with revenues rising by 18% year-over-year to $1.35 billion.
• The stock currently has a consensus rating of "Moderate Buy" among analysts, with a target price of approximately $231.73.

LPL Financial LLC reduced its holdings in EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 16.8% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,698 shares of the information technology services provider's stock after selling 5,409 shares during the quarter. LPL Financial LLC's holdings in EPAM Systems were worth $4,508,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Ninety One UK Ltd purchased a new position in shares of EPAM Systems in the 1st quarter worth about $186,280,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of EPAM Systems by 98.8% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,628,304 shares of the information technology services provider's stock worth $274,923,000 after purchasing an additional 809,423 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings 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 purchasing an additional 620,551 shares in the last quarter. Capital World Investors boosted its holdings in shares of EPAM Systems by 22.0% in the 4th quarter. Capital World Investors now owns 2,304,243 shares of the information technology services provider's stock worth $538,778,000 after purchasing an additional 414,942 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of EPAM Systems by 719.2% in the 4th quarter. The Manufacturers Life Insurance Company now owns 370,191 shares of the information technology services provider's stock worth $86,558,000 after purchasing an additional 325,003 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors.

EPAM Systems Trading Down 0.8%

NYSE EPAM opened at $159.54 on Friday. EPAM Systems, Inc. has a fifty-two week low of $138.15 and a fifty-two week high of $269.00. The stock has a market cap of $8.89 billion, a P/E ratio of 22.76, a price-to-earnings-growth ratio of 2.40 and a beta of 1.67. The stock has a 50 day simple moving average of $168.53 and a two-hundred day simple moving average of $182.17. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.17 and a current ratio of 3.17.

EPAM Systems (NYSE:EPAM - Get Free Report) last announced its earnings results on Thursday, August 7th. The information technology services provider reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.61 by $0.16. EPAM Systems had a return on equity of 14.00% and a net margin of 7.91%. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the prior year, the company earned $2.45 EPS. The business's revenue was up 18.0% compared to the same quarter last year. On average, analysts forecast that EPAM Systems, Inc. will post 8.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Piper Sandler upped their price objective on EPAM Systems from $170.00 to $194.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Susquehanna cut their price objective on EPAM Systems from $270.00 to $210.00 and set a "positive" rating for the company in a report on Wednesday, April 23rd. Scotiabank dropped their target price on EPAM Systems from $250.00 to $200.00 and set a "sector outperform" rating for the company in a report on Tuesday, April 29th. Deutsche Bank Aktiengesellschaft began coverage on EPAM Systems in a report on Thursday, July 17th. They set a "hold" rating and a $171.00 target price for the company. Finally, Stifel Nicolaus dropped their target price on EPAM Systems from $275.00 to $240.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, EPAM Systems has an average rating of "Moderate Buy" and a consensus target price of $231.73.

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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