Oppenheimer Asset Management Inc. Acquires 3,621 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Oppenheimer Asset Management Inc. grew its holdings in EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 8.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 44,372 shares of the information technology services provider's stock after purchasing an additional 3,621 shares during the quarter. Oppenheimer Asset Management Inc. owned approximately 0.08% of EPAM Systems worth $7,492,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC bought a new position in EPAM Systems during the 4th quarter worth approximately $218,000. Atria Wealth Solutions Inc. raised its holdings in shares of EPAM Systems by 38.4% in the fourth quarter. Atria Wealth Solutions Inc. now owns 1,889 shares of the information technology services provider's stock valued at $442,000 after purchasing an additional 524 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in shares of EPAM Systems by 52.5% in the fourth quarter. Handelsbanken Fonder AB now owns 13,800 shares of the information technology services provider's stock valued at $3,227,000 after purchasing an additional 4,749 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in EPAM Systems by 12.2% during the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 11,983 shares of the information technology services provider's stock worth $2,802,000 after buying an additional 1,300 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in EPAM Systems during the fourth quarter worth $1,178,000. Institutional investors own 91.58% of the company's stock.

EPAM Systems Stock Performance

Shares of EPAM stock opened at $172.58 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.06 and a current ratio of 3.06. The company has a market capitalization of $9.78 billion, a price-to-earnings ratio of 24.14, a PEG ratio of 2.23 and a beta of 1.72. EPAM Systems, Inc. has a 52 week low of $138.15 and a 52 week high of $269.00. The company has a 50-day simple moving average of $169.45 and a 200 day simple moving average of $199.97.

EPAM Systems (NYSE:EPAM - Get Free Report) last posted its quarterly earnings data 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. The firm 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%. The business's revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.46 EPS. On average, sell-side analysts predict that EPAM Systems, Inc. will post 8.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on EPAM shares. Scotiabank lowered their target price 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. Wall Street Zen downgraded shares of EPAM Systems from a "buy" rating to a "hold" rating in a report on Saturday, April 12th. Stifel Nicolaus lowered their target price on shares of EPAM Systems from $275.00 to $240.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Needham & Company LLC boosted their target price on shares of EPAM Systems from $185.00 to $215.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Finally, Barclays boosted their target price on shares of EPAM Systems from $200.00 to $215.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $233.93.

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.

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