Millennium Management LLC Raises Position in EPAM Systems, Inc. (NYSE:EPAM)

Millennium Management LLC boosted its position in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 62.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 350,960 shares of the information technology services provider's stock after acquiring an additional 135,244 shares during the period. Millennium Management LLC owned 0.62% of EPAM Systems worth $82,061,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Capital World Investors grew its position in EPAM Systems by 22.0% during the 4th 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 during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of EPAM Systems by 39.8% during 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 buying an additional 620,551 shares during the period. Geode Capital Management LLC grew its holdings in shares of EPAM Systems by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 1,349,088 shares of the information technology services provider's stock valued at $314,616,000 after buying an additional 37,119 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of EPAM Systems by 96.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 818,881 shares of the information technology services provider's stock valued at $191,471,000 after acquiring an additional 401,355 shares during the period. Finally, Marshall Wace LLP increased its position in shares of 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 acquiring an additional 429,644 shares during the period. Hedge funds and other institutional investors own 91.58% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on EPAM shares. Barclays boosted their price target on EPAM Systems from $200.00 to $215.00 and gave the company an "overweight" rating in a research note on Monday, May 12th. Guggenheim lifted their target price on EPAM Systems from $210.00 to $215.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Susquehanna cut their price target on shares of EPAM Systems from $270.00 to $210.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd. Scotiabank reduced their price target on shares of 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. Finally, Jefferies Financial Group dropped their price objective on shares of EPAM Systems from $305.00 to $288.00 and set a "buy" rating on the stock in a report on Tuesday, January 21st. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $231.50.

EPAM Systems Price Performance

Shares of EPAM Systems stock traded down $1.15 during trading hours on Friday, reaching $183.54. The stock had a trading volume of 1,089,533 shares, compared to its average volume of 682,046. The stock's 50 day moving average is $164.77 and its 200 day moving average is $210.84. 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 twelve month low of $138.15 and a twelve month high of $269.00. The firm has a market capitalization of $10.47 billion, a PE ratio of 23.41, a PEG ratio of 3.38 and a beta of 1.71.

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 analysts' consensus estimates of $2.27 by $0.14. EPAM Systems had a return on equity of 14.60% and a net margin of 9.61%. The company had revenue of $1.30 billion during the quarter, compared to analysts' expectations of $1.28 billion. During the same quarter in the prior year, the firm posted $2.46 EPS. EPAM Systems's quarterly revenue was up 11.7% compared to the same quarter last year. Equities analysts expect that EPAM Systems, Inc. will post 8.9 earnings per share 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.