EPAM Systems, Inc. (NYSE:EPAM) Position Trimmed by Nuveen Asset Management LLC

Nuveen Asset Management LLC cut its position in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 40.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 252,978 shares of the information technology services provider's stock after selling 171,780 shares during the quarter. Nuveen Asset Management LLC owned 0.45% of EPAM Systems worth $59,151,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its stake in EPAM Systems by 90.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider's stock valued at $27,000 after buying an additional 54 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in EPAM Systems by 2,500.0% in 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 buying an additional 125 shares during the last quarter. TD Private Client Wealth LLC lifted its stake in EPAM Systems by 88.5% in the fourth quarter. TD Private Client Wealth LLC now owns 147 shares of the information technology services provider's stock valued at $34,000 after buying an additional 69 shares during the last quarter. Manchester Capital Management LLC lifted its stake in EPAM Systems by 590.0% in the fourth quarter. Manchester Capital Management LLC now owns 207 shares of the information technology services provider's stock valued at $48,000 after buying an additional 177 shares during the last quarter. Finally, Physician Wealth Advisors Inc. bought a new stake in EPAM Systems in the fourth quarter valued at $49,000. 91.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Wall Street Zen cut EPAM Systems from a "buy" rating to a "hold" rating in a research note on Saturday, April 12th. Morgan Stanley lowered their price target on EPAM Systems from $250.00 to $210.00 and set an "equal weight" rating on the stock in a report on Friday, May 9th. Piper Sandler raised their price target on EPAM Systems from $170.00 to $194.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Stifel Nicolaus lowered their price target on EPAM Systems from $275.00 to $240.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Finally, Guggenheim raised their price target on EPAM Systems from $210.00 to $215.00 and gave the company a "buy" rating in a report on Friday, May 9th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $231.50.

EPAM Systems Price Performance

NYSE:EPAM traded down $4.74 during mid-day trading on Friday, reaching $175.89. 1,057,164 shares of the stock were exchanged, compared to its average volume of 682,951. The business has a fifty day moving average price of $164.56 and a 200 day moving average price of $210.47. The firm has a market capitalization of $9.96 billion, a PE ratio of 22.43, a PEG ratio of 3.38 and a beta of 1.71. EPAM Systems, Inc. has a 1-year low of $138.15 and a 1-year high of $269.00. The company has a current ratio of 2.96, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAM - Get Free Report) last released its earnings results on Thursday, May 8th. The information technology services provider reported $2.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.27 by $0.14. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.28 billion. EPAM Systems had a return on equity of 14.60% and a net margin of 9.61%. EPAM Systems's revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.46 earnings per share. Research analysts expect that EPAM Systems, Inc. will post 8.9 earnings per share for the current fiscal year.

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.