First Horizon Advisors Inc. cut its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 8.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 434 shares of the information technology services provider’s stock after selling 41 shares during the quarter. First Horizon Advisors Inc.’s holdings in EPAM Systems were worth $171,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of the stock. BlackRock Inc. raised its holdings in EPAM Systems by 2.5% during the first quarter. BlackRock Inc. now owns 3,401,029 shares of the information technology services provider’s stock worth $1,349,154,000 after purchasing an additional 82,512 shares during the last quarter. Alliancebernstein L.P. raised its holdings in EPAM Systems by 264.3% during the first quarter. Alliancebernstein L.P. now owns 912,136 shares of the information technology services provider’s stock worth $361,835,000 after purchasing an additional 661,754 shares during the last quarter. Wells Fargo & Company MN raised its holdings in EPAM Systems by 4.0% during the fourth quarter. Wells Fargo & Company MN now owns 563,059 shares of the information technology services provider’s stock worth $201,772,000 after purchasing an additional 21,418 shares during the last quarter. Norges Bank purchased a new position in EPAM Systems during the fourth quarter worth $195,576,000. Finally, Oak Ridge Investments LLC increased its position in EPAM Systems by 638.7% during the first quarter. Oak Ridge Investments LLC now owns 537,299 shares of the information technology services provider’s stock worth $213,142,000 after buying an additional 464,566 shares in the last quarter. 91.81% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have weighed in on the company. VTB Capital reissued a “hold” rating and set a $425.00 price target on shares of EPAM Systems in a research report on Monday, April 19th. Piper Sandler raised their price target on EPAM Systems from $507.00 to $517.00 and gave the stock an “overweight” rating in a research report on Monday, May 10th. Barclays raised their price target on EPAM Systems from $450.00 to $521.00 and gave the stock an “overweight” rating in a research report on Monday, May 10th. Citigroup raised their price target on EPAM Systems from $415.00 to $440.00 in a research report on Friday, February 19th. Finally, Morgan Stanley lifted their price objective on EPAM Systems from $467.00 to $510.00 and gave the company an “overweight” rating in a research report on Monday, May 10th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $445.50.
EPAM stock opened at $505.63 on Friday. The firm’s 50-day moving average price is $456.15. EPAM Systems, Inc. has a 12-month low of $225.70 and a 12-month high of $506.81. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.32 and a current ratio of 4.32. The stock has a market capitalization of $28.52 billion, a P/E ratio of 84.41, a PEG ratio of 3.28 and a beta of 1.38.
EPAM Systems (NYSE:EPAM) last posted its quarterly earnings results on Thursday, May 6th. The information technology services provider reported $1.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.42. EPAM Systems had a return on equity of 18.17% and a net margin of 12.57%. The firm had revenue of $780.80 million during the quarter, compared to the consensus estimate of $763.88 million. During the same quarter in the previous year, the business earned $1.43 earnings per share. The firm’s quarterly revenue was up 19.9% compared to the same quarter last year. Equities analysts predict that EPAM Systems, Inc. will post 6.5 earnings per share for the current fiscal year.
EPAM Systems Company Profile
EPAM Systems, Inc provides digital platform engineering and software development services in North America, Europe, Russia, Belarus, Kazakhstan, Ukraine, Georgia, East Asia, Southeast Asia, and Australia. 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, and maintenance with private, public, and mobile infrastructures for application, database, network, server, storage, and systems operations management, as well as monitoring, incident notification, and resolution services; and maintenance and support services.
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