Norris Perne & French LLP MI Purchases 3,604 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Norris Perne & French LLP MI increased its holdings in EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 3.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 117,339 shares of the information technology services provider's stock after acquiring an additional 3,604 shares during the period. EPAM Systems comprises 1.5% of Norris Perne & French LLP MI's investment portfolio, making the stock its 27th biggest holding. Norris Perne & French LLP MI owned 0.21% of EPAM Systems worth $19,812,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in EPAM. Norges Bank purchased a new stake in EPAM Systems in the 4th quarter valued at about $173,053,000. William Blair Investment Management LLC purchased a new position in shares of EPAM Systems in the 4th quarter worth approximately $166,906,000. Ameriprise Financial Inc. increased its position in shares of 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 valued at $510,053,000 after acquiring an additional 620,551 shares during the last quarter. Marshall Wace LLP lifted its holdings in EPAM Systems by 126.4% during the fourth 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 during the period. Finally, Capital World Investors boosted its position in EPAM Systems by 22.0% in 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 purchasing an additional 414,942 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company's stock.

Wall Street Analyst Weigh In

EPAM has been the topic of a number of research analyst reports. Scotiabank cut their price target on shares of EPAM Systems from $250.00 to $200.00 and set a "sector outperform" rating on the stock in a report on Tuesday, April 29th. Morgan Stanley lowered their price objective on shares of EPAM Systems from $250.00 to $210.00 and set an "equal weight" rating on the stock in a research report on Friday, May 9th. Piper Sandler increased their target price on shares of EPAM Systems from $170.00 to $194.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. 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 note on Wednesday, April 23rd. Finally, Guggenheim lifted their price target on shares of EPAM Systems from $210.00 to $215.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, EPAM Systems has an average rating of "Moderate Buy" and an average price target of $233.93.

EPAM Systems Stock Performance

EPAM stock traded down $2.04 during midday trading on Friday, reaching $162.98. 1,222,755 shares of the company's stock traded hands, compared to its average volume of 692,035. The company has a 50-day moving average price of $168.71 and a two-hundred day moving average price of $200.98. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.06 and a current ratio of 3.06. EPAM Systems, Inc. has a 52 week low of $138.15 and a 52 week high of $269.00. The firm has a market capitalization of $9.23 billion, a PE ratio of 22.79, a price-to-earnings-growth ratio of 2.16 and a beta of 1.72.

EPAM Systems (NYSE:EPAM - Get Free Report) last issued its earnings results on Thursday, May 8th. The information technology services provider reported $2.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.27 by $0.14. EPAM Systems had a net margin of 8.47% and a return on equity of 14.15%. 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 previous year, the firm posted $2.46 EPS. The business's revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, equities analysts anticipate that EPAM Systems, Inc. will post 8.9 EPS for the current year.

EPAM Systems 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.