Rhumbline Advisers Buys 11,898 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Rhumbline Advisers raised its stake in EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 12.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 110,537 shares of the information technology services provider's stock after purchasing an additional 11,898 shares during the quarter. Rhumbline Advisers owned about 0.20% of EPAM Systems worth $18,663,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC acquired a new position in EPAM Systems in the fourth quarter worth about $218,000. Blue Trust Inc. raised its holdings in shares of EPAM Systems by 46.5% during the fourth quarter. Blue Trust Inc. now owns 488 shares of the information technology services provider's stock valued at $114,000 after buying an additional 155 shares during the last quarter. Greenleaf Trust bought a new stake in shares of EPAM Systems during the fourth quarter valued at approximately $227,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of EPAM Systems by 28.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,136 shares of the information technology services provider's stock valued at $1,460,000 after buying an additional 1,370 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in EPAM Systems by 2.3% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,085 shares of the information technology services provider's stock worth $1,423,000 after purchasing an additional 136 shares during the period. 91.58% of the stock is owned by hedge funds and other institutional investors.

EPAM Systems Stock Up 2.2%

EPAM Systems stock traded up $3.85 during mid-day trading on Friday, hitting $178.42. 501,852 shares of the company's stock were exchanged, compared to its average volume of 702,263. The company has a current ratio of 2.96, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01. The stock has a market cap of $10.11 billion, a P/E ratio of 22.76, a P/E/G ratio of 3.38 and a beta of 1.72. EPAM Systems, Inc. has a 1-year low of $138.15 and a 1-year high of $269.00. The stock has a 50 day moving average of $164.67 and a two-hundred day moving average of $206.28.

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 (EPS) for the quarter, beating analysts' consensus estimates of $2.27 by $0.14. EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. The company had revenue of $1.30 billion during the quarter, compared to analysts' expectations of $1.28 billion. During the same period in the prior year, the company earned $2.46 earnings per share. The business's quarterly revenue was up 11.7% compared to the same quarter last year. As a group, analysts anticipate that EPAM Systems, Inc. will post 8.9 EPS for the current fiscal year.

Analysts Set New Price Targets

EPAM has been the subject of a number of research analyst reports. Wall Street Zen downgraded EPAM Systems from a "buy" rating to a "hold" rating in a research report on Saturday, April 12th. Stifel Nicolaus cut their target price on shares of EPAM Systems from $275.00 to $240.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Needham & Company LLC boosted their target price on shares of EPAM Systems from $185.00 to $215.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Piper Sandler boosted their target price on shares of EPAM Systems from $170.00 to $194.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Finally, Barclays boosted their target price on shares of EPAM Systems from $200.00 to $215.00 and gave the company an "overweight" rating in a research note on Monday, May 12th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $233.93.

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.