PAX Financial Group LLC Acquires Shares of 3,824 EPAM Systems, Inc. (NYSE:EPAM)

PAX Financial Group LLC purchased a new position in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 3,824 shares of the information technology services provider's stock, valued at approximately $646,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ninety One UK Ltd bought a new stake in shares of EPAM Systems during the first quarter worth approximately $186,280,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of EPAM Systems by 98.8% during the first 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 acquiring an additional 809,423 shares during the period. Norges Bank bought a new stake in shares of EPAM Systems during the fourth quarter worth approximately $173,053,000. William Blair Investment Management LLC bought a new stake in shares of EPAM Systems during the fourth quarter worth approximately $166,906,000. Finally, Ameriprise Financial Inc. boosted its holdings 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 worth $510,053,000 after acquiring an additional 620,551 shares during the period. Institutional investors own 91.58% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Scotiabank reduced their price objective on EPAM Systems from $250.00 to $200.00 and set a "sector outperform" rating for the company in a report on Tuesday, April 29th. Wall Street Zen cut EPAM Systems from a "buy" rating to a "hold" rating in a report on Saturday, April 12th. Needham & Company LLC boosted their price objective on EPAM Systems from $185.00 to $215.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Stifel Nicolaus cut their price target on EPAM Systems from $275.00 to $240.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Finally, 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. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $233.93.

EPAM Systems Price Performance

EPAM traded up $3.80 during trading on Wednesday, hitting $166.83. 513,405 shares of the stock traded hands, compared to its average volume of 684,587. EPAM Systems, Inc. has a twelve month low of $138.15 and a twelve month high of $269.00. The company has a market cap of $9.45 billion, a price-to-earnings ratio of 23.33, a PEG ratio of 2.18 and a beta of 1.70. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.06 and a quick ratio of 3.06. The business has a 50 day moving average price of $176.22 and a 200 day moving average price of $192.63.

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 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the business earned $2.46 earnings per share. The company's revenue was up 11.7% on a year-over-year basis. Equities research analysts forecast 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.