Raiffeisen Bank International AG Invests $648,000 in EPAM Systems, Inc. (NYSE:EPAM)

Raiffeisen Bank International AG acquired a new position in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,760 shares of the information technology services provider's stock, valued at approximately $648,000.

Other hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its holdings in EPAM Systems by 35.8% in the 4th quarter. American Century Companies Inc. now owns 20,597 shares of the information technology services provider's stock valued at $4,816,000 after purchasing an additional 5,435 shares in the last quarter. Oliver Luxxe Assets LLC purchased a new position in shares of EPAM Systems in the fourth quarter valued at $1,889,000. DnB Asset Management AS raised its stake in shares of EPAM Systems by 26.4% during the 4th quarter. DnB Asset Management AS now owns 11,245 shares of the information technology services provider's stock worth $2,629,000 after buying an additional 2,349 shares during the last quarter. Merit Financial Group LLC purchased a new stake in shares of EPAM Systems in the 4th quarter worth about $245,000. Finally, Pinebridge Investments L.P. grew its stake in EPAM Systems by 66.6% in the 4th 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. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

EPAM Systems Stock Up 1.2%

Shares of NYSE:EPAM traded up $2.12 during midday trading on Tuesday, hitting $185.87. 740,878 shares of the company's stock traded hands, compared to its average volume of 682,778. 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 $10.61 billion, a PE ratio of 23.71, a P/E/G ratio of 3.38 and a beta of 1.71. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 2.96. The firm's fifty day moving average price is $164.78 and its two-hundred day moving average price is $210.78.

EPAM Systems (NYSE:EPAM - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The information technology services provider reported $2.41 earnings per share for the quarter, topping analysts' consensus estimates of $2.27 by $0.14. EPAM Systems had a return on equity of 14.60% and a net margin of 9.61%. The firm had revenue of $1.30 billion during the quarter, compared to analysts' expectations of $1.28 billion. During the same quarter in the prior year, the business earned $2.46 EPS. EPAM Systems's quarterly revenue was up 11.7% compared to the same quarter last year. On average, equities research analysts anticipate that EPAM Systems, Inc. will post 8.9 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on EPAM shares. Needham & Company LLC raised their price objective on shares of EPAM Systems from $185.00 to $215.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Guggenheim upped their target price on shares of EPAM Systems from $210.00 to $215.00 and gave the company a "buy" rating in a report on Friday, May 9th. Piper Sandler raised their price target on shares of EPAM Systems from $170.00 to $194.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Scotiabank reduced their price objective on shares of EPAM Systems from $250.00 to $200.00 and set a "sector outperform" rating on the stock in a research note on Tuesday, April 29th. Finally, Morgan Stanley lowered their target price on shares of 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. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, EPAM Systems has a consensus rating of "Moderate Buy" and an average price target of $231.50.

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.