Mubadala Investment Co PJSC Takes $4.76 Million Position in EPAM Systems, Inc. (NYSE:EPAM)

Mubadala Investment Co PJSC acquired a new position in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 20,353 shares of the information technology services provider's stock, valued at approximately $4,759,000. EPAM Systems comprises approximately 0.0% of Mubadala Investment Co PJSC's portfolio, making the stock its 10th biggest holding.

Other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in EPAM Systems during the fourth quarter worth approximately $173,053,000. William Blair Investment Management LLC acquired a new stake in EPAM Systems during the fourth quarter worth approximately $166,906,000. Ameriprise Financial Inc. grew its stake in 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 purchasing an additional 620,551 shares during the period. Marshall Wace LLP grew its stake in EPAM Systems by 126.4% during 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 during the period. Finally, Capital World Investors grew its stake in 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 purchasing an additional 414,942 shares during the period. 91.58% of the stock is currently owned by institutional investors.

EPAM Systems Stock Performance

Shares of NYSE:EPAM traded down $1.15 during midday trading on Friday, reaching $183.54. 1,089,533 shares of the company traded hands, compared to its average volume of 682,554. The company has a quick ratio of 4.56, a current ratio of 2.96 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 firm has a market capitalization of $10.47 billion, a price-to-earnings ratio of 23.41, a price-to-earnings-growth ratio of 3.38 and a beta of 1.71. The firm's fifty day moving average price is $164.93 and its two-hundred day moving average price is $210.76.

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

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Scotiabank reduced their price objective on EPAM Systems from $250.00 to $200.00 and set a "sector outperform" rating for the company in a research note on Tuesday, April 29th. Jefferies Financial Group reduced their price objective on EPAM Systems from $305.00 to $288.00 and set a "buy" rating for the company in a research note on Tuesday, January 21st. Stifel Nicolaus reduced their price objective on EPAM Systems from $275.00 to $240.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Piper Sandler raised their price objective on EPAM Systems from $170.00 to $194.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Finally, Guggenheim raised their price objective on EPAM Systems from $210.00 to $215.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $231.50.

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.