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

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

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in EPAM Systems during the fourth quarter worth $173,053,000. William Blair Investment Management LLC bought a new stake in EPAM Systems during the fourth quarter worth $166,906,000. Ameriprise Financial Inc. raised its position in 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 worth $510,053,000 after acquiring an additional 620,551 shares in the last quarter. Marshall Wace LLP raised its position 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 in the last quarter. Finally, Capital World Investors raised its position in EPAM Systems by 22.0% during 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 acquiring an additional 414,942 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on EPAM. Piper Sandler upped 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. Stifel Nicolaus dropped their price target on shares of EPAM Systems from $275.00 to $240.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Guggenheim upped their price target on shares of EPAM Systems from $210.00 to $215.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Barclays upped their price target on shares of EPAM Systems from $200.00 to $215.00 and gave the stock an "overweight" rating in a research report on Monday, May 12th. Finally, Needham & Company LLC increased their price objective 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. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $233.93.

EPAM Systems Price Performance

Shares of EPAM traded up $0.90 during mid-day trading on Friday, reaching $174.90. The company had a trading volume of 972,227 shares, compared to its average volume of 685,317. The company's 50 day simple moving average is $171.08 and its 200 day simple moving average is $198.39. EPAM Systems, Inc. has a 1-year low of $138.15 and a 1-year high of $269.00. 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 $9.91 billion, a price-to-earnings ratio of 24.46, a P/E/G ratio of 2.30 and a beta of 1.72.

EPAM Systems (NYSE:EPAM - Get Free Report) last posted its quarterly earnings results 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 net margin of 8.47% and a return on equity of 14.15%. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period last year, the company posted $2.46 EPS. The firm's quarterly revenue was up 11.7% compared to the same quarter last year. Analysts expect 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.