USS Investment Management Ltd Makes New Investment in EPAM Systems, Inc. (NYSE:EPAM)

USS Investment Management Ltd acquired a new position in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 54,266 shares of the information technology services provider's stock, valued at approximately $12,683,000. USS Investment Management Ltd owned approximately 0.10% of EPAM Systems as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. Worldquant Millennium Advisors LLC grew its holdings in shares of EPAM Systems by 82.3% during the fourth quarter. Worldquant Millennium Advisors LLC now owns 21,273 shares of the information technology services provider's stock worth $4,974,000 after buying an additional 9,601 shares in the last quarter. Washington Harbour Partners LP boosted its position in EPAM Systems by 176.6% during the fourth quarter. Washington Harbour Partners LP now owns 13,000 shares of the information technology services provider's stock valued at $3,040,000 after purchasing an additional 8,300 shares during the last quarter. Woodline Partners LP boosted its position in EPAM Systems by 164.3% during the fourth quarter. Woodline Partners LP now owns 159,194 shares of the information technology services provider's stock valued at $37,223,000 after purchasing an additional 98,967 shares during the last quarter. Vident Advisory LLC acquired a new position in EPAM Systems during the fourth quarter valued at approximately $304,000. Finally, Two Sigma Advisers LP boosted its position in EPAM Systems by 22.6% during the fourth quarter. Two Sigma Advisers LP now owns 114,080 shares of the information technology services provider's stock valued at $26,674,000 after purchasing an additional 21,000 shares during the last quarter. 91.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Needham & Company LLC increased their price target on EPAM Systems from $185.00 to $215.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Scotiabank reduced their price target 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. Barclays increased 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. Susquehanna reduced their price target on EPAM Systems from $270.00 to $210.00 and set a "positive" rating for the company in a research report on Wednesday, April 23rd. Finally, Piper Sandler increased their price target on EPAM Systems from $170.00 to $194.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $231.50.

EPAM Systems Stock Performance

NYSE:EPAM traded down $4.74 during mid-day trading on Friday, hitting $175.89. 1,057,164 shares of the stock were exchanged, compared to its average volume of 684,610. The stock has a market capitalization of $9.96 billion, a price-to-earnings ratio of 22.43, a price-to-earnings-growth ratio of 3.38 and a beta of 1.71. The firm's 50-day simple moving average is $164.56 and its 200 day simple moving average is $210.42. 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, 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 14.60% and a net margin of 9.61%. 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.

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.