Point72 Hong Kong Ltd Has $708,000 Stock Position in EPAM Systems, Inc. (NYSE:EPAM)

Point72 Hong Kong Ltd lifted its holdings in EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 456.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,026 shares of the information technology services provider's stock after buying an additional 2,482 shares during the quarter. Point72 Hong Kong Ltd's holdings in EPAM Systems were worth $708,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in EPAM. Norges Bank bought a new stake in shares of EPAM Systems during the fourth quarter valued at approximately $173,053,000. William Blair Investment Management LLC bought a new stake in shares of EPAM Systems during the fourth quarter valued at approximately $166,906,000. Ameriprise Financial Inc. grew 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 valued at $510,053,000 after purchasing an additional 620,551 shares during the last quarter. Marshall Wace LLP grew its stake in shares of 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 valued at $179,944,000 after purchasing an additional 429,644 shares during the last quarter. Finally, Capital World Investors boosted its stake in 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 valued at $538,778,000 after acquiring an additional 414,942 shares during the last quarter. 91.58% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Piper Sandler raised their price objective 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. Morgan Stanley reduced their price objective on shares of EPAM Systems from $250.00 to $210.00 and set an "equal weight" rating on the stock in a research note on Friday, May 9th. Jefferies Financial Group reduced their price objective 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 price objective on shares of EPAM Systems from $270.00 to $210.00 and set a "positive" rating on the stock in a research note on Wednesday, April 23rd. Finally, StockNews.com cut shares of EPAM Systems from a "buy" rating to a "hold" rating in a research note on Saturday, April 12th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, EPAM Systems presently has an average rating of "Moderate Buy" and a consensus price target of $231.50.

EPAM Systems Stock Up 1.2%

Shares of NYSE:EPAM traded up $2.12 during midday trading on Tuesday, reaching $185.87. 740,878 shares of the company were exchanged, compared to its average volume of 682,778. EPAM Systems, Inc. has a fifty-two week low of $138.15 and a fifty-two week high of $269.00. 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 fifty day simple moving average of $164.66 and a two-hundred day simple moving average of $210.95. The firm has a market cap of $10.61 billion, a PE ratio of 23.71, a P/E/G ratio of 3.38 and a beta of 1.71.

EPAM Systems (NYSE:EPAM - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The information technology services provider reported $2.41 earnings per share (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 firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the business earned $2.46 EPS. The company's revenue was up 11.7% compared to the same quarter last year. As a group, sell-side analysts forecast that EPAM Systems, Inc. will post 8.9 earnings per share for the current 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.