Woodline Partners LP Boosts Stock Position in EPAM Systems, Inc. (NYSE:EPAM)

Woodline Partners LP lifted its stake in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 164.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 159,194 shares of the information technology services provider's stock after acquiring an additional 98,967 shares during the quarter. Woodline Partners LP owned approximately 0.28% of EPAM Systems worth $37,223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Capital World Investors raised its position in shares of EPAM Systems by 22.0% during the fourth quarter. Capital World Investors now owns 2,304,243 shares of the information technology services provider's stock worth $538,778,000 after acquiring an additional 414,942 shares during the last quarter. Ameriprise Financial Inc. increased 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. Geode Capital Management LLC increased its holdings in EPAM Systems by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 1,349,088 shares of the information technology services provider's stock worth $314,616,000 after purchasing an additional 37,119 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in EPAM Systems by 96.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 818,881 shares of the information technology services provider's stock worth $191,471,000 after purchasing an additional 401,355 shares in the last quarter. Finally, Marshall Wace LLP increased its holdings 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 worth $179,944,000 after purchasing an additional 429,644 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Morgan Stanley lowered their target price on EPAM Systems from $250.00 to $210.00 and set an "equal weight" rating for the company in a report on Friday, May 9th. Barclays lifted their target price on EPAM Systems from $200.00 to $215.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. Piper Sandler lifted their target price on EPAM Systems from $170.00 to $194.00 and gave the stock 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 for the company in a report on Wednesday, April 23rd. Finally, Wall Street Zen downgraded EPAM Systems from a "buy" rating to a "hold" rating in a report on Saturday, April 12th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $231.50.

EPAM Systems Stock Down 2.6%

Shares of NYSE:EPAM traded down $4.74 during mid-day trading on Friday, hitting $175.89. 1,057,164 shares of the company traded hands, compared to its average volume of 684,610. The stock has a market cap of $9.96 billion, a P/E ratio of 22.43, a P/E/G ratio of 3.38 and a beta of 1.71. 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, Inc. has a 12-month low of $138.15 and a 12-month high of $269.00. The stock has a 50-day moving average price of $164.56 and a two-hundred day moving average price of $210.42.

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 (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.14. The company had revenue of $1.30 billion for 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%. EPAM Systems's quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.46 earnings per share. On average, equities research analysts forecast that EPAM Systems, Inc. will post 8.9 earnings per share for the current year.

EPAM Systems Company 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.