Rhumbline Advisers Increases Stake in EPAM Systems, Inc. (NYSE:EPAM)

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

A number of other institutional investors and hedge funds have also made changes to their positions in EPAM. Capital World Investors boosted 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 purchasing an additional 414,942 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in EPAM Systems by 39.8% during the 4th quarter. Ameriprise Financial Inc. now owns 2,181,143 shares of the information technology services provider's stock valued at $510,053,000 after acquiring an additional 620,551 shares during the period. Geode Capital Management LLC boosted its holdings in shares of 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 valued at $314,616,000 after acquiring an additional 37,119 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of EPAM Systems by 96.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 818,881 shares of the information technology services provider's stock valued at $191,471,000 after acquiring an additional 401,355 shares during the last quarter. Finally, Marshall Wace LLP increased its stake in shares of EPAM Systems by 126.4% in the fourth quarter. Marshall Wace LLP now owns 769,584 shares of the information technology services provider's stock worth $179,944,000 after acquiring an additional 429,644 shares during the period. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EPAM has been the subject of a number of research reports. Wall Street Zen downgraded shares of EPAM Systems from a "buy" rating to a "hold" rating in a research report on Saturday, April 12th. Piper Sandler boosted their price objective on EPAM Systems from $170.00 to $194.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Susquehanna lowered their target price on EPAM Systems from $270.00 to $210.00 and set a "positive" rating on the stock in a research note on Wednesday, April 23rd. Barclays lifted their price target on EPAM Systems from $200.00 to $215.00 and gave the company an "overweight" rating in a research report on Monday, May 12th. Finally, Needham & Company LLC boosted their price target on EPAM Systems from $185.00 to $215.00 and gave the company a "buy" rating in a report on Friday, May 9th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $233.93.

EPAM Systems Price Performance

Shares of NYSE:EPAM traded up $3.83 during midday trading on Tuesday, reaching $180.52. 892,691 shares of the company's stock traded hands, compared to its average volume of 701,909. The company has a fifty day simple moving average of $165.32 and a two-hundred day simple moving average of $205.17. EPAM Systems, Inc. has a 1 year low of $138.15 and a 1 year high of $269.00. The company has a market cap of $10.23 billion, a P/E ratio of 23.03, a PEG ratio of 3.38 and a beta of 1.72. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 2.96.

EPAM Systems (NYSE:EPAM - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The information technology services provider reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.14. EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period last year, the firm posted $2.46 earnings per share. The company's revenue was up 11.7% compared to the same quarter last year. Equities analysts predict that EPAM Systems, Inc. will post 8.9 EPS for the current fiscal 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.