Moran Wealth Management LLC Invests $532,000 in EPAM Systems, Inc. (NYSE:EPAM)

Moran Wealth Management LLC purchased a new position in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,152 shares of the information technology services provider's stock, valued at approximately $532,000.

Other large investors have also made changes to their positions in the company. Asset Management One Co. Ltd. lifted its holdings in shares of EPAM Systems by 7.7% in the first quarter. Asset Management One Co. Ltd. now owns 23,019 shares of the information technology services provider's stock worth $3,887,000 after acquiring an additional 1,637 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in EPAM Systems by 8.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 44,372 shares of the information technology services provider's stock worth $7,492,000 after purchasing an additional 3,621 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new position in EPAM Systems in the 1st quarter valued at approximately $268,000. Norris Perne & French LLP MI boosted its position in EPAM Systems by 3.2% in the first quarter. Norris Perne & French LLP MI now owns 117,339 shares of the information technology services provider's stock valued at $19,812,000 after buying an additional 3,604 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its position in EPAM Systems by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 6,645 shares of the information technology services provider's stock valued at $1,121,000 after buying an additional 175 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company's stock.

EPAM Systems Trading Up 1.2%

EPAM Systems stock traded up $2.15 during trading hours on Tuesday, reaching $178.97. 554,047 shares of the company's stock were exchanged, compared to its average volume of 686,244. The firm's 50 day simple moving average is $172.34 and its 200 day simple moving average is $197.42. EPAM Systems, Inc. has a twelve month low of $138.15 and a twelve month high of $269.00. The company has a quick ratio of 3.06, a current ratio of 3.06 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $10.14 billion, a PE ratio of 25.03, a PEG ratio of 2.33 and a beta of 1.70.

EPAM Systems (NYSE:EPAM - Get Free Report) last announced its earnings results on Thursday, May 8th. The information technology services provider reported $2.41 EPS for the quarter, beating the consensus estimate of $2.27 by $0.14. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.28 billion. EPAM Systems had a return on equity of 14.15% and a net margin of 8.47%. The firm's revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.46 EPS. Research analysts predict that EPAM Systems, Inc. will post 8.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Piper Sandler increased their price target on EPAM Systems from $170.00 to $194.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Barclays upped their target price on EPAM Systems from $200.00 to $215.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. Wall Street Zen lowered EPAM Systems from a "buy" rating to a "hold" rating in a research note on Saturday, April 12th. Scotiabank reduced their price target 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. Finally, 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. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $233.93.

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.