Ninety One SA PTY Ltd Buys Shares of 12,566 EPAM Systems, Inc. (NYSE:EPAM)

Ninety One SA PTY Ltd acquired a new stake in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 12,566 shares of the information technology services provider's stock, valued at approximately $2,116,000.

Other hedge funds have also bought and sold shares of the company. Ninety One UK Ltd bought a new position in shares of EPAM Systems in the first quarter worth about $186,280,000. Norges Bank bought a new position in EPAM Systems during the 4th quarter worth about $173,053,000. William Blair Investment Management LLC bought a new position in EPAM Systems during the 4th quarter worth about $166,906,000. Ameriprise Financial Inc. grew its holdings in EPAM Systems by 39.8% during the 4th 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. Finally, Marshall Wace LLP grew its holdings in EPAM Systems by 126.4% during the 4th quarter. Marshall Wace LLP now owns 769,584 shares of the information technology services provider's stock worth $179,944,000 after acquiring an additional 429,644 shares in the last quarter. Institutional investors own 91.58% of the company's stock.

EPAM Systems Stock Down 2.0%

EPAM traded down $3.65 on Thursday, reaching $178.09. The company's stock had a trading volume of 368,020 shares, compared to its average volume of 685,321. The stock has a 50 day moving average of $175.22 and a two-hundred day moving average of $195.13. 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 company has a market capitalization of $10.09 billion, a price-to-earnings ratio of 24.91, a P/E/G ratio of 2.45 and a beta of 1.70. EPAM Systems, Inc. has a fifty-two week low of $138.15 and a fifty-two week high of $269.00.

EPAM Systems (NYSE:EPAM - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $1.30 billion during the quarter, compared to analysts' expectations of $1.28 billion. During the same quarter in the previous year, the business earned $2.46 earnings per share. The firm's revenue for the quarter was up 11.7% on a year-over-year basis. As a group, analysts forecast that EPAM Systems, Inc. will post 8.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on EPAM shares. Scotiabank decreased their price target on shares of EPAM Systems from $250.00 to $200.00 and set a "sector outperform" rating for the company in a research report on Tuesday, April 29th. Stifel Nicolaus decreased their price target on shares of EPAM Systems from $275.00 to $240.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Susquehanna decreased their price target on shares of EPAM Systems from $270.00 to $210.00 and set a "positive" rating for the company in a research report on Wednesday, April 23rd. Morgan Stanley decreased their price objective on shares of EPAM Systems from $250.00 to $210.00 and set an "equal weight" rating for the company in a research report on Friday, May 9th. Finally, Piper Sandler raised their price target on shares of EPAM Systems from $170.00 to $194.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price 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.