Teacher Retirement System of Texas Has $21.12 Million Stock Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Teacher Retirement System of Texas cut its position in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 66.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 125,059 shares of the information technology services provider's stock after selling 245,734 shares during the quarter. Teacher Retirement System of Texas owned 0.22% of EPAM Systems worth $21,115,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of EPAM. Norges Bank bought a new position in EPAM Systems in the fourth quarter valued at approximately $173,053,000. William Blair Investment Management LLC bought a new position in EPAM Systems in the fourth quarter valued at approximately $166,906,000. Ameriprise Financial Inc. grew its stake in EPAM Systems by 39.8% in the fourth quarter. Ameriprise Financial Inc. now owns 2,181,143 shares of the information technology services provider's stock valued at $510,053,000 after purchasing an additional 620,551 shares in the last quarter. Marshall Wace LLP grew its stake in 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 valued at $179,944,000 after purchasing an additional 429,644 shares in the last quarter. Finally, Capital World Investors grew its stake in EPAM Systems by 22.0% in the fourth quarter. Capital World Investors now owns 2,304,243 shares of the information technology services provider's stock valued at $538,778,000 after purchasing an additional 414,942 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

EPAM has been the subject of a number of analyst reports. Susquehanna decreased their price target on EPAM Systems from $270.00 to $210.00 and set a "positive" rating for the company in a research note on Wednesday, April 23rd. Morgan Stanley cut their price objective on EPAM Systems from $250.00 to $210.00 and set an "equal weight" rating for the company in a research report on Friday, May 9th. Piper Sandler raised their price objective on EPAM Systems from $170.00 to $194.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Guggenheim raised their price objective on EPAM Systems from $210.00 to $215.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Finally, Scotiabank cut their price objective on EPAM Systems from $250.00 to $200.00 and set a "sector outperform" rating for the company in a research report on Tuesday, April 29th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $233.93.

EPAM Systems Stock Performance

NYSE:EPAM traded up $3.16 during mid-day trading on Friday, hitting $182.71. 273,809 shares of the stock were exchanged, compared to its average volume of 686,319. The stock has a market capitalization of $10.35 billion, a price-to-earnings ratio of 25.55, a price-to-earnings-growth ratio of 2.44 and a beta of 1.70. The firm's 50-day simple moving average is $173.82 and its 200 day simple moving average is $195.78. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.06 and a current ratio of 3.06. EPAM Systems, Inc. has a fifty-two week low of $138.15 and a fifty-two week high of $269.00.

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 the consensus estimate of $2.27 by $0.14. The business had revenue of $1.30 billion during the quarter, compared to analysts' expectations of $1.28 billion. EPAM Systems had a return on equity of 14.15% and a net margin of 8.47%. The firm's revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period last year, the firm posted $2.46 EPS. As a group, equities analysts anticipate that EPAM Systems, Inc. will post 8.9 EPS for the current fiscal year.

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.