Ninety One SA PTY Ltd Takes $2.12 Million Position in EPAM Systems, Inc. (NYSE:EPAM)

Ninety One SA PTY Ltd bought a new stake in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,566 shares of the information technology services provider's stock, valued at approximately $2,116,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its stake in shares of EPAM Systems by 90.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider's stock worth $27,000 after buying an additional 54 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of EPAM Systems by 2,500.0% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 130 shares of the information technology services provider's stock valued at $30,000 after acquiring an additional 125 shares in the last quarter. Sentry Investment Management LLC bought a new position in shares of EPAM Systems during the first quarter valued at $33,000. TD Private Client Wealth LLC raised its position in shares of EPAM Systems by 88.5% in the 4th quarter. TD Private Client Wealth LLC now owns 147 shares of the information technology services provider's stock worth $34,000 after purchasing an additional 69 shares during the last quarter. Finally, CX Institutional bought a new position in EPAM Systems in the 1st quarter worth about $42,000. 91.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Scotiabank decreased their price objective on shares of EPAM Systems from $250.00 to $200.00 and set a "sector outperform" rating for the company in a report on Tuesday, April 29th. Barclays upped their price target on shares of EPAM Systems from $200.00 to $215.00 and gave the company an "overweight" rating in a research report on Monday, May 12th. Needham & Company LLC boosted their target price on shares of EPAM Systems from $185.00 to $215.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Piper Sandler increased 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. Finally, Stifel Nicolaus cut their price objective 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. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $233.93.

EPAM Systems Price Performance

Shares of EPAM stock traded down $1.57 during trading hours on Wednesday, hitting $181.74. The stock had a trading volume of 407,631 shares, compared to its average volume of 686,455. 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 stock has a market capitalization of $10.30 billion, a price-to-earnings ratio of 25.42, a PEG ratio of 2.45 and a beta of 1.70. EPAM Systems, Inc. has a one year low of $138.15 and a one year high of $269.00. The stock's 50-day moving average price is $175.22 and its two-hundred day moving average price is $195.13.

EPAM Systems (NYSE:EPAM - Get Free Report) last posted its earnings results 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 firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.28 billion. EPAM Systems had a return on equity of 14.15% and a net margin of 8.47%. The company's quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.46 EPS. Equities analysts forecast that EPAM Systems, Inc. will post 8.9 EPS for the current year.

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.