EPAM Systems, Inc. (NYSE:EPAM) Shares Bought by Polen Capital Management LLC

Key Points

• Polen Capital Management LLC increased its stake in EPAM Systems by 22.7% during the first quarter, acquiring a total of 16,512 shares valued at approximately $2.79 million.
• Several hedge funds boosted their holdings in EPAM, with Invesco Ltd. increasing its stake by 37.1% and Connor Clark & Lunn Investment Management Ltd. raising theirs by an impressive 262.7%.
• EPAM Systems reported earnings of $2.77 per share, surpassing analysts' expectations, and recorded revenue growth of 18% year-over-year, amounting to $1.35 billion during the latest quarter.

Polen Capital Management LLC lifted its stake in EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 22.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,512 shares of the information technology services provider's stock after buying an additional 3,058 shares during the quarter. Polen Capital Management LLC's holdings in EPAM Systems were worth $2,788,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its position in EPAM Systems by 18.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,248 shares of the information technology services provider's stock valued at $1,224,000 after acquiring an additional 1,112 shares during the last quarter. SG Americas Securities LLC increased its position in EPAM Systems by 518.9% during the first quarter. SG Americas Securities LLC now owns 6,950 shares of the information technology services provider's stock valued at $1,173,000 after acquiring an additional 5,827 shares during the last quarter. CX Institutional bought a new position in EPAM Systems during the first quarter valued at $42,000. Fifth Third Bancorp increased its position in EPAM Systems by 6.1% during the first quarter. Fifth Third Bancorp now owns 1,572 shares of the information technology services provider's stock valued at $265,000 after acquiring an additional 91 shares during the last quarter. Finally, Pinebridge Investments L.P. increased its position in EPAM Systems by 66.6% during the fourth quarter. Pinebridge Investments L.P. now owns 18,953 shares of the information technology services provider's stock valued at $4,432,000 after acquiring an additional 7,576 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Susquehanna cut their price target on shares of EPAM Systems from $270.00 to $210.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd. 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 report on Friday, May 9th. Morgan Stanley cut their price target on shares of EPAM Systems from $250.00 to $210.00 and set an "equal weight" rating on the stock in a report on Friday, May 9th. 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 report on Friday, May 9th. Finally, 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 report on Monday, May 12th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, EPAM Systems has a consensus rating of "Moderate Buy" and an average price target of $231.73.

EPAM Systems Stock Down 0.4%

Shares of EPAM stock traded down $0.60 during mid-day trading on Thursday, hitting $160.21. 349,101 shares of the stock traded hands, compared to its average volume of 749,457. The stock has a market cap of $8.92 billion, a P/E ratio of 22.83, a P/E/G ratio of 2.28 and a beta of 1.67. The stock's fifty day moving average is $168.83 and its two-hundred day moving average is $182.81. EPAM Systems, Inc. has a 52-week low of $138.15 and a 52-week high of $269.00. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.17 and a quick ratio of 3.17.

EPAM Systems (NYSE:EPAM - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The information technology services provider reported $2.77 EPS for the quarter, beating the consensus estimate of $2.61 by $0.16. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.33 billion. EPAM Systems had a net margin of 7.91% and a return on equity of 14.00%. The company's quarterly revenue was up 18.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.45 earnings per share. Equities analysts predict that EPAM Systems, Inc. will post 8.9 EPS for the current year.

EPAM Systems 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.