Meridian Management Co. Purchases 6,777 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Key Points

• Meridian Management Co. increased its holdings in EPAM Systems, Inc. by 32.0% during the first quarter, bringing its total shares to 27,956 with a valuation of $4,720,000.
• Several hedge funds also significantly increased their positions in EPAM Systems, including Inspire Advisors LLC, which expanded its stake by 383.1% during the same quarter.
• EPAM Systems reported earnings of $2.41 per share for the recent quarter, exceeding analysts' expectations, as revenue rose by 11.7% year-over-year.

Meridian Management Co. raised its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 32.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,956 shares of the information technology services provider's stock after acquiring an additional 6,777 shares during the period. EPAM Systems comprises approximately 1.5% of Meridian Management Co.'s portfolio, making the stock its 21st biggest holding. Meridian Management Co.'s holdings in EPAM Systems were worth $4,720,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of EPAM Systems by 2,500.0% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 130 shares of the information technology services provider's stock worth $30,000 after purchasing an additional 125 shares during the last quarter. Sentry Investment Management LLC bought a new position in shares of EPAM Systems in the first quarter worth approximately $33,000. Physician Wealth Advisors Inc. bought a new position in shares of EPAM Systems in the fourth quarter worth approximately $49,000. CX Institutional purchased a new stake in EPAM Systems in the first quarter worth $42,000. Finally, First Horizon Advisors Inc. lifted its stake in EPAM Systems by 79.5% in the first quarter. First Horizon Advisors Inc. now owns 481 shares of the information technology services provider's stock worth $81,000 after acquiring an additional 213 shares during the period. 91.58% of the stock is currently owned by institutional investors.

EPAM Systems Stock Down 2.7%

Shares of EPAM traded down $4.50 during trading hours on Thursday, hitting $159.48. The company had a trading volume of 204,921 shares, compared to its average volume of 729,306. EPAM Systems, Inc. has a 52-week low of $138.15 and a 52-week high of $269.00. The firm has a fifty day moving average price of $173.00 and a 200-day moving average price of $188.29. 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 stock has a market capitalization of $9.03 billion, a price-to-earnings ratio of 22.29, a P/E/G ratio of 2.37 and a beta of 1.70.

EPAM Systems (NYSE:EPAM - Get Free Report) last issued its earnings results on Thursday, May 8th. The information technology services provider reported $2.41 earnings per share for the quarter, topping analysts' consensus estimates of $2.27 by $0.14. EPAM Systems had a return on equity of 14.15% and a net margin of 8.47%. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the firm earned $2.46 EPS. EPAM Systems's revenue was up 11.7% on a year-over-year basis. On average, equities research analysts forecast that EPAM Systems, Inc. will post 8.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on EPAM. Wall Street Zen lowered EPAM Systems from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Morgan Stanley dropped their price target 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. Susquehanna dropped their price target on EPAM Systems from $270.00 to $210.00 and set a "positive" rating for the company in a research note on Wednesday, April 23rd. Scotiabank dropped their price target on EPAM Systems from $250.00 to $200.00 and set a "sector outperform" rating for the company in a research note on Tuesday, April 29th. Finally, Deutsche Bank Aktiengesellschaft began coverage on EPAM Systems in a research note on Thursday, July 17th. They issued a "hold" rating and a $171.00 price target for the company. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $231.73.

EPAM Systems Company 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.