Pinebridge Investments L.P. Raises Stock Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Pinebridge Investments L.P. boosted its position in EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 66.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,953 shares of the information technology services provider's stock after purchasing an additional 7,576 shares during the period. Pinebridge Investments L.P.'s holdings in EPAM Systems were worth $4,432,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Aurora Investment Counsel boosted its position in shares of EPAM Systems by 0.7% in the fourth quarter. Aurora Investment Counsel now owns 6,101 shares of the information technology services provider's stock valued at $1,427,000 after acquiring an additional 45 shares during the period. UniSuper Management Pty Ltd raised its holdings in shares of EPAM Systems by 0.3% in the 4th quarter. UniSuper Management Pty Ltd now owns 15,632 shares of the information technology services provider's stock valued at $3,655,000 after acquiring an additional 52 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of EPAM Systems by 90.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider's stock valued at $27,000 after acquiring an additional 54 shares during the last quarter. SkyView Investment Advisors LLC grew its holdings in shares of EPAM Systems by 3.0% during the third quarter. SkyView Investment Advisors LLC now owns 2,055 shares of the information technology services provider's stock worth $409,000 after purchasing an additional 60 shares in the last quarter. Finally, Baker Tilly Wealth Management LLC increased its position in shares of EPAM Systems by 4.9% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 1,465 shares of the information technology services provider's stock worth $343,000 after purchasing an additional 69 shares during the last quarter. 91.58% of the stock is owned by institutional investors.

EPAM Systems Stock Performance

Shares of EPAM stock traded up $2.61 during mid-day trading on Thursday, reaching $159.52. 243,520 shares of the company's stock traded hands, compared to its average volume of 693,607. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 2.96. The firm has a market capitalization of $9.10 billion, a PE ratio of 20.35, a price-to-earnings-growth ratio of 3.38 and a beta of 1.69. EPAM Systems, Inc. has a 12 month low of $138.15 and a 12 month high of $269.00. The firm has a 50 day moving average price of $171.61 and a two-hundred day moving average price of $212.58.

EPAM Systems (NYSE:EPAM - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $2.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.75 by ($0.52). EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.21 billion. On average, research analysts forecast that EPAM Systems, Inc. will post 8.9 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on EPAM shares. Piper Sandler downgraded shares of EPAM Systems from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $251.00 to $170.00 in a report on Wednesday, April 16th. Needham & Company LLC reaffirmed a "buy" rating and set a $265.00 price target on shares of EPAM Systems in a research report on Thursday, February 20th. Morgan Stanley raised their target price on shares of EPAM Systems from $230.00 to $256.00 and gave the stock an "equal weight" rating in a research report on Friday, January 31st. Barclays reduced their price target on shares of EPAM Systems from $270.00 to $200.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. Finally, Scotiabank decreased 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 note on Tuesday. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, EPAM Systems has an average rating of "Moderate Buy" and a consensus target price of $232.44.

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.