EPAM Systems, Inc. (NYSE:EPAM) Shares Acquired by New York State Common Retirement Fund

New York State Common Retirement Fund grew its position in EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 71.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 73,890 shares of the information technology services provider's stock after purchasing an additional 30,778 shares during the quarter. New York State Common Retirement Fund owned approximately 0.13% of EPAM Systems worth $12,476,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. Nisa Investment Advisors LLC increased its holdings in EPAM Systems by 119.2% in 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 boosted its stake in shares of 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 valued at $2,095,000 after buying an additional 487 shares during the last quarter. Ninety One SA PTY Ltd acquired a new stake in EPAM Systems in the 1st quarter valued at approximately $2,116,000. Ninety One UK Ltd purchased a new stake in shares of EPAM Systems in the first quarter worth approximately $186,280,000. Finally, Envestnet Asset Management Inc. boosted its stake in EPAM Systems by 48.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 105,580 shares of the information technology services provider's stock valued at $17,826,000 after purchasing an additional 34,260 shares during the period. 91.58% of the stock is owned by institutional investors.

EPAM Systems Price Performance

EPAM stock traded up $0.90 during mid-day trading on Monday, reaching $165.60. 500,782 shares of the company traded hands, compared to its average volume of 680,745. EPAM Systems, Inc. has a 52-week low of $138.15 and a 52-week high of $269.00. The company has a fifty day moving average price of $175.66 and a 200-day moving average price of $191.11. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.06 and a quick ratio of 3.06. The company has a market capitalization of $9.38 billion, a P/E ratio of 23.16, a P/E/G ratio of 2.32 and a beta of 1.70.

EPAM Systems (NYSE:EPAM - Get Free Report) last released its quarterly earnings data 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 net margin of 8.47% and a return on equity of 14.15%. EPAM Systems's quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.46 EPS. As a group, analysts anticipate that EPAM Systems, Inc. will post 8.9 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on EPAM shares. Piper Sandler boosted their price target on shares of EPAM Systems from $170.00 to $194.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Guggenheim lifted their price objective on EPAM Systems from $210.00 to $215.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Morgan Stanley decreased their price target on EPAM Systems from $250.00 to $210.00 and set an "equal weight" rating on the stock in a research note on Friday, May 9th. Wall Street Zen downgraded EPAM Systems from a "buy" rating to a "hold" rating in a research report on Friday. Finally, Barclays boosted their price objective on EPAM Systems from $200.00 to $215.00 and gave the company an "overweight" rating in a research report on Monday, May 12th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target 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.