Wealth Enhancement Advisory Services LLC Boosts Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Wealth Enhancement Advisory Services LLC grew its holdings in EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 42.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,118 shares of the information technology services provider's stock after purchasing an additional 1,812 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in EPAM Systems were worth $1,431,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of EPAM Systems in the 4th quarter valued at about $173,053,000. William Blair Investment Management LLC acquired a new position in EPAM Systems in the 4th quarter valued at approximately $166,906,000. Ameriprise Financial Inc. boosted its holdings 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 worth $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 4th quarter. Marshall Wace LLP now owns 769,584 shares of the information technology services provider's stock valued at $179,944,000 after buying an additional 429,644 shares during the last quarter. Finally, Capital World Investors boosted its holdings 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 valued at $538,778,000 after purchasing an additional 414,942 shares during the period. Institutional investors and hedge funds own 91.58% of the company's stock.

EPAM Systems Price Performance

NYSE EPAM traded down $4.25 on Wednesday, reaching $176.51. The company's stock had a trading volume of 610,533 shares, compared to its average volume of 701,724. The firm has a market cap of $10.00 billion, a PE ratio of 22.51, a price-to-earnings-growth ratio of 3.38 and a beta of 1.72. The business has a 50-day moving average price of $165.96 and a 200 day moving average price of $204.97. EPAM Systems, Inc. has a 52 week low of $138.15 and a 52 week high of $269.00. The company has a current ratio of 2.96, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01.

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

Wall Street Analysts Forecast Growth

EPAM has been the subject of several research reports. Piper Sandler raised their price objective on shares of EPAM Systems from $170.00 to $194.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Scotiabank lowered their target price on shares of EPAM Systems from $250.00 to $200.00 and set a "sector outperform" rating on the stock in a report on Tuesday, April 29th. Susquehanna reduced their target price on shares of EPAM Systems from $270.00 to $210.00 and set a "positive" rating for the company in a research report on Wednesday, April 23rd. Stifel Nicolaus dropped their target price on shares of EPAM Systems from $275.00 to $240.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Finally, Wall Street Zen downgraded shares of EPAM Systems from a "buy" rating to a "hold" rating in a research report on Saturday, April 12th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, EPAM Systems has a consensus rating of "Moderate Buy" and a consensus price target of $233.93.

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.