Massachusetts Financial Services Co. MA Grows Stock Position in EPAM Systems, Inc. (NYSE:EPAM)

Massachusetts Financial Services Co. MA lifted its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 98.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,628,304 shares of the information technology services provider's stock after purchasing an additional 809,423 shares during the period. Massachusetts Financial Services Co. MA owned 2.85% of EPAM Systems worth $274,923,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. New York State Common Retirement Fund raised its stake in EPAM Systems by 71.4% during the 1st quarter. New York State Common Retirement Fund now owns 73,890 shares of the information technology services provider's stock worth $12,476,000 after buying an additional 30,778 shares during the period. Nisa Investment Advisors LLC raised its stake in EPAM Systems by 119.2% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,975 shares of the information technology services provider's stock worth $333,000 after buying an additional 1,074 shares during the period. Linden Thomas Advisory Services LLC raised its stake in EPAM Systems by 4.1% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 12,409 shares of the information technology services provider's stock worth $2,095,000 after buying an additional 487 shares during the period. Ninety One SA PTY Ltd acquired a new position in EPAM Systems during the 1st quarter worth approximately $2,116,000. Finally, Ninety One UK Ltd acquired a new position in EPAM Systems during the 1st quarter worth approximately $186,280,000. Institutional investors own 91.58% of the company's stock.

EPAM Systems Stock Performance

Shares of EPAM traded down $1.34 on Thursday, reaching $165.50. 320,090 shares of the company's stock traded hands, compared to its average volume of 683,199. 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 stock has a market cap of $9.38 billion, a PE ratio of 23.15, a PEG ratio of 2.18 and a beta of 1.70. The stock's 50 day simple moving average is $176.22 and its two-hundred day simple moving average is $192.63. EPAM Systems, Inc. has a 52-week low of $138.15 and a 52-week 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 EPS for the quarter, beating 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 return on equity of 14.15% and a net margin of 8.47%. EPAM Systems's revenue was up 11.7% on a year-over-year basis. During the same period last year, the business posted $2.46 earnings per share. On average, analysts forecast that EPAM Systems, Inc. will post 8.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on EPAM shares. Needham & Company LLC upped their price target on EPAM Systems from $185.00 to $215.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Stifel Nicolaus dropped their price target on EPAM Systems from $275.00 to $240.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Barclays increased their price objective on EPAM Systems from $200.00 to $215.00 and gave the stock an "overweight" rating in a research note on Monday, May 12th. Morgan Stanley lowered their price objective on EPAM Systems from $250.00 to $210.00 and set an "equal weight" rating for the company in a research note on Friday, May 9th. Finally, Guggenheim increased their price objective on EPAM Systems from $210.00 to $215.00 and gave the stock a "buy" rating in a research note 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. According to data from MarketBeat.com, EPAM Systems has a consensus rating of "Moderate Buy" and an average price target of $231.73.

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.