Neo Ivy Capital Management Invests $1.92 Million in EPAM Systems, Inc. (NYSE:EPAM)

Key Points

• Neo Ivy Capital Management acquired 11,340 shares of EPAM Systems, Inc. for approximately $1.915 million in the first quarter, showcasing increased institutional interest in the technology services provider.
• Analysts have varied opinions on EPAM Systems, with ratings ranging from "hold" to "buy," and a current consensus rating of "Moderate Buy" with an average target price of $231.73.
• EPAM Systems reported strong quarterly earnings, with an EPS of $2.41, exceeding analyst estimates, reflecting a year-over-year revenue increase of 11.7%.

Neo Ivy Capital Management bought a new position in EPAM Systems, Inc. (NYSE:EPAM - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 11,340 shares of the information technology services provider's stock, valued at approximately $1,915,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EPAM. Capital World Investors raised its stake in EPAM Systems by 22.0% during the fourth quarter. Capital World Investors now owns 2,304,243 shares of the information technology services provider's stock worth $538,778,000 after acquiring an additional 414,942 shares in the last quarter. Ameriprise Financial Inc. raised its stake in EPAM Systems by 39.8% during the fourth quarter. Ameriprise Financial Inc. now owns 2,181,143 shares of the information technology services provider's stock worth $510,053,000 after acquiring an additional 620,551 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in EPAM Systems by 98.8% during the first 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 acquiring an additional 809,423 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of EPAM Systems by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 1,349,088 shares of the information technology services provider's stock valued at $314,616,000 after buying an additional 37,119 shares in the last quarter. Finally, Ninety One UK Ltd acquired a new stake in shares of EPAM Systems in the first quarter valued at $186,280,000. 91.58% of the stock is owned by institutional investors.

EPAM Systems Stock Down 1.2%

Shares of EPAM Systems stock traded down $1.98 on Tuesday, reaching $167.39. 95,488 shares of the company were exchanged, compared to its average volume of 732,518. EPAM Systems, Inc. has a one year low of $138.15 and a one year high of $269.00. The company has a market capitalization of $9.48 billion, a price-to-earnings ratio of 23.41, a PEG ratio of 2.41 and a beta of 1.70. 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 50-day moving average of $173.74 and a 200 day moving average of $188.60.

EPAM Systems (NYSE:EPAM - Get Free Report) last posted 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. 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 for the quarter, compared to analysts' expectations of $1.28 billion. During the same quarter in the prior year, the business earned $2.46 EPS. The firm's revenue for the quarter was up 11.7% on a year-over-year basis. On average, equities research analysts forecast that EPAM Systems, Inc. will post 8.9 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on EPAM. Guggenheim raised their target price on EPAM Systems from $210.00 to $215.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Barclays raised their target price on EPAM Systems from $200.00 to $215.00 and gave the company an "overweight" rating in a research note on Monday, May 12th. 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. Scotiabank reduced their price objective 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 reduced their price objective on EPAM Systems from $270.00 to $210.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.