Pacific Capital Partners Ltd Invests $3.38 Million in EPAM Systems, Inc. (NYSE:EPAM)

Key Points

• Pacific Capital Partners Ltd acquired 20,000 shares of EPAM Systems, valued at approximately $3.38 million, representing about 2.1% of its total holdings and making EPAM the company's 18th largest position.
• Multiple institutional investors are increasing their stakes in EPAM Systems, with Capital World Investors boosting its position by 22% and Ameriprise Financial increasing their stake by 39.8% in the last quarter.
• EPAM Systems reported earnings per share of $2.41 for the quarter, exceeding estimates, while the company anticipates an average price target of $231.73 amidst various ratings from analysts.

Pacific Capital Partners Ltd acquired a new position in EPAM Systems, Inc. (NYSE:EPAM - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 20,000 shares of the information technology services provider's stock, valued at approximately $3,377,000. EPAM Systems makes up 2.1% of Pacific Capital Partners Ltd's investment portfolio, making the stock its 18th largest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of EPAM. Capital World Investors increased its stake in EPAM Systems by 22.0% in the 4th quarter. Capital World Investors now owns 2,304,243 shares of the information technology services provider's stock worth $538,778,000 after buying an additional 414,942 shares in the last quarter. Ameriprise Financial Inc. increased its stake in EPAM Systems by 39.8% in the 4th quarter. Ameriprise Financial Inc. now owns 2,181,143 shares of the information technology services provider's stock worth $510,053,000 after buying an additional 620,551 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in EPAM Systems by 98.8% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,628,304 shares of the information technology services provider's stock worth $274,923,000 after buying an additional 809,423 shares in the last quarter. Geode Capital Management LLC increased its stake in EPAM Systems by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 1,349,088 shares of the information technology services provider's stock worth $314,616,000 after buying an additional 37,119 shares in the last quarter. Finally, Ninety One UK Ltd purchased a new stake in EPAM Systems in the 1st quarter worth $186,280,000. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

EPAM Systems Trading Down 4.3%

Shares of NYSE:EPAM traded down $6.78 during trading on Friday, reaching $150.93. The company's stock had a trading volume of 854,472 shares, compared to its average volume of 530,967. The company has a current ratio of 3.06, a quick ratio of 3.06 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $8.55 billion, a PE ratio of 21.11, a price-to-earnings-growth ratio of 2.35 and a beta of 1.67. EPAM Systems, Inc. has a 12 month low of $138.15 and a 12 month high of $269.00. The firm's 50 day simple moving average is $172.04 and its two-hundred day simple moving average is $187.30.

EPAM Systems (NYSE:EPAM - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The information technology services provider reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.14. The business 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 firm's quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.46 earnings per share. On average, research analysts predict that EPAM Systems, Inc. will post 8.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

EPAM has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on EPAM Systems in a research note on Thursday, July 17th. They issued a "hold" rating and a $171.00 price target for the company. Morgan Stanley cut their price target on EPAM Systems from $250.00 to $210.00 and set an "equal weight" rating for the company in a research note on Friday, May 9th. Piper Sandler raised their price objective on EPAM Systems from $170.00 to $194.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Scotiabank cut their price objective on EPAM Systems from $250.00 to $200.00 and set a "sector outperform" rating for the company in a research report on Tuesday, April 29th. Finally, Susquehanna cut their price objective on EPAM Systems from $270.00 to $210.00 and set a "positive" rating for the company in a research report on Wednesday, April 23rd. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, EPAM Systems presently has a consensus rating of "Moderate Buy" and a consensus target price of $231.73.

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.