Point72 Asset Management L.P. Takes $66.66 Million Position in EPAM Systems, Inc. (NYSE:EPAM)

Point72 Asset Management L.P. bought a new stake in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 285,100 shares of the information technology services provider's stock, valued at approximately $66,662,000. Point72 Asset Management L.P. owned approximately 0.50% of EPAM Systems at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. American Century Companies Inc. boosted its stake in EPAM Systems by 35.8% during the 4th quarter. American Century Companies Inc. now owns 20,597 shares of the information technology services provider's stock valued at $4,816,000 after acquiring an additional 5,435 shares during the last quarter. Oliver Luxxe Assets LLC acquired a new stake in shares of EPAM Systems in the 4th quarter valued at about $1,889,000. DnB Asset Management AS lifted its position in shares of EPAM Systems by 26.4% during the fourth quarter. DnB Asset Management AS now owns 11,245 shares of the information technology services provider's stock worth $2,629,000 after purchasing an additional 2,349 shares during the last quarter. Merit Financial Group LLC acquired a new position in EPAM Systems in the fourth quarter worth about $245,000. Finally, Pinebridge Investments L.P. increased its holdings in EPAM Systems by 66.6% in the fourth quarter. Pinebridge Investments L.P. now owns 18,953 shares of the information technology services provider's stock valued at $4,432,000 after buying an additional 7,576 shares during the last quarter. 91.58% of the stock is currently owned by institutional investors and hedge funds.

EPAM Systems Stock Performance

EPAM stock traded up $0.06 during trading on Monday, reaching $183.66. 763,843 shares of the company's stock were exchanged, compared to its average volume of 682,374. EPAM Systems, Inc. has a 1-year low of $138.15 and a 1-year high of $269.00. The firm has a market cap of $10.48 billion, a PE ratio of 23.43, a P/E/G ratio of 3.38 and a beta of 1.71. The company's fifty day moving average price is $164.77 and its 200-day moving average price is $210.99. 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 (NYSE:EPAM - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The information technology services provider reported $2.41 earnings per share for the quarter, beating analysts' consensus estimates of $2.27 by $0.14. The business had revenue of $1.30 billion for the quarter, compared to analysts' expectations of $1.28 billion. EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. The company's revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.46 earnings per share. On average, research analysts expect that EPAM Systems, Inc. will post 8.9 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on EPAM shares. Needham & Company LLC increased their target price on EPAM Systems from $185.00 to $215.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Guggenheim raised their price objective on EPAM Systems from $210.00 to $215.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. StockNews.com lowered shares of EPAM Systems from a "buy" rating to a "hold" rating in a research note on Saturday, April 12th. Susquehanna dropped their target price 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. Finally, Stifel Nicolaus decreased their price target on shares of EPAM Systems from $275.00 to $240.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, EPAM Systems currently has an average 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.