Gotham Asset Management LLC Acquires New Position in EPAM Systems, Inc. (NYSE:EPAM)

Gotham Asset Management LLC purchased a new position in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 13,457 shares of the information technology services provider's stock, valued at approximately $3,147,000.

Other large investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of EPAM Systems in the fourth quarter valued at approximately $173,053,000. William Blair Investment Management LLC acquired a new stake in EPAM Systems in the 4th quarter valued at approximately $166,906,000. Ameriprise Financial Inc. raised its stake in EPAM Systems by 39.8% during the 4th quarter. Ameriprise Financial Inc. now owns 2,181,143 shares of the information technology services provider's stock valued at $510,053,000 after acquiring an additional 620,551 shares in the last quarter. Marshall Wace LLP boosted its position in EPAM Systems by 126.4% during the 4th quarter. Marshall Wace LLP now owns 769,584 shares of the information technology services provider's stock worth $179,944,000 after acquiring an additional 429,644 shares during the period. Finally, Capital World Investors grew its stake in shares of 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 worth $538,778,000 after purchasing an additional 414,942 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on EPAM. Needham & Company LLC upped their target price on EPAM Systems from $185.00 to $215.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Jefferies Financial Group dropped their price target on shares of EPAM Systems from $305.00 to $288.00 and set a "buy" rating on the stock in a research note on Tuesday, January 21st. 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 note on Wednesday, April 23rd. Guggenheim upped their price target on EPAM Systems from $210.00 to $215.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Finally, Piper Sandler raised their target price on shares of EPAM Systems from $170.00 to $194.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, EPAM Systems presently has a consensus rating of "Moderate Buy" and an average target price of $231.50.

EPAM Systems Price Performance

NYSE:EPAM traded up $0.24 during mid-day trading on Tuesday, reaching $183.99. 141,544 shares of the company were exchanged, compared to its average volume of 680,283. The company has a quick ratio of 4.56, a current ratio of 2.96 and a debt-to-equity ratio of 0.01. The stock has a market cap of $10.50 billion, a PE ratio of 23.48, a PEG ratio of 3.38 and a beta of 1.71. EPAM Systems, Inc. has a 12 month low of $138.15 and a 12 month high of $269.00. The company has a fifty day moving average of $164.66 and a 200 day moving average of $210.95.

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 EPS for the quarter, beating the consensus estimate of $2.27 by $0.14. EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. The business had revenue of $1.30 billion for the quarter, compared to analysts' expectations of $1.28 billion. During the same period in the prior year, the firm earned $2.46 earnings per share. EPAM Systems's revenue was up 11.7% compared to the same quarter last year. On average, research 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.