WIM INVESTMENT MANAGEMENT Ltd Acquires Shares of 16,200 EPAM Systems, Inc. (NYSE:EPAM)

Key Points

• WIM INVESTMENT MANAGEMENT Ltd has acquired 16,200 shares of EPAM Systems, Inc. for approximately $2,735,000, making it the 13th largest holding in their portfolio.
• Several institutional investors have increased their stakes in EPAM, with notable contributions from American Century Companies and Korea Investment CORP, reflecting a strong interest in the company.
• EPAM Systems reported $2.41 earnings per share, beating analysts' estimates, while their quarterly revenue was up 11.7% year-over-year, indicating strong operational performance.

WIM INVESTMENT MANAGEMENT Ltd bought a new position in EPAM Systems, Inc. (NYSE:EPAM - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 16,200 shares of the information technology services provider's stock, valued at approximately $2,735,000. EPAM Systems makes up 1.1% of WIM INVESTMENT MANAGEMENT Ltd's portfolio, making the stock its 13th biggest holding.

Several other institutional investors have also recently made changes to their positions in EPAM. Brighton Jones LLC bought a new stake in shares of EPAM Systems during the 4th quarter worth $218,000. American Century Companies Inc. raised its position in EPAM Systems by 35.8% in the fourth quarter. American Century Companies Inc. now owns 20,597 shares of the information technology services provider's stock worth $4,816,000 after acquiring an additional 5,435 shares during the period. LPL Financial LLC boosted its stake in EPAM Systems by 31.6% in the fourth quarter. LPL Financial LLC now owns 32,107 shares of the information technology services provider's stock valued at $7,507,000 after acquiring an additional 7,711 shares during the last quarter. Korea Investment CORP grew its position in shares of EPAM Systems by 50.3% during the 4th quarter. Korea Investment CORP now owns 65,200 shares of the information technology services provider's stock valued at $15,245,000 after acquiring an additional 21,807 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of EPAM Systems by 11.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 93,599 shares of the information technology services provider's stock worth $21,595,000 after purchasing an additional 9,322 shares during the last quarter. Institutional investors own 91.58% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Scotiabank dropped their price objective on EPAM Systems from $250.00 to $200.00 and set a "sector outperform" rating on the stock in a research note on Tuesday, April 29th. Guggenheim upped their price target on EPAM Systems from $210.00 to $215.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Needham & Company LLC increased their price target on EPAM Systems from $185.00 to $215.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Stifel Nicolaus lowered their price objective on EPAM Systems from $275.00 to $240.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Finally, Piper Sandler upped their price objective on shares of EPAM Systems from $170.00 to $194.00 and gave the company a "neutral" 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. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $231.73.

EPAM Systems Trading Down 0.7%

Shares of EPAM stock opened at $169.50 on Tuesday. The company has a market capitalization of $9.60 billion, a PE ratio of 23.71, a price-to-earnings-growth ratio of 2.41 and a beta of 1.70. EPAM Systems, Inc. has a 52-week low of $138.15 and a 52-week high of $269.00. The business's fifty day moving average is $173.74 and its 200 day moving average is $188.60. 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 (NYSE:EPAM - Get Free Report) last announced its earnings results on Thursday, May 8th. The information technology services provider reported $2.41 earnings per share for the quarter, beating analysts' consensus estimates of $2.27 by $0.14. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.28 billion. EPAM Systems had a net margin of 8.47% and a return on equity of 14.15%. EPAM Systems's quarterly revenue was up 11.7% on a year-over-year basis. During the same period last year, the firm posted $2.46 earnings per share. On average, equities research 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.

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