Covenant Partners LLC Decreases Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Covenant Partners LLC decreased its position in shares of EPAM Systems, Inc. (NYSE:EPAMFree Report) by 14.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,375 shares of the information technology services provider’s stock after selling 235 shares during the quarter. Covenant Partners LLC’s holdings in EPAM Systems were worth $409,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in shares of EPAM Systems during the 4th quarter worth approximately $184,713,000. Price T Rowe Associates Inc. MD raised its position in shares of EPAM Systems by 372.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 476,311 shares of the information technology services provider’s stock worth $141,627,000 after purchasing an additional 375,439 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of EPAM Systems during the 4th quarter worth approximately $663,080,000. TD Asset Management Inc raised its position in shares of EPAM Systems by 317.4% during the 4th quarter. TD Asset Management Inc now owns 263,255 shares of the information technology services provider’s stock worth $78,276,000 after purchasing an additional 200,181 shares during the last quarter. Finally, Royal Bank of Canada raised its position in shares of EPAM Systems by 265.7% during the 3rd quarter. Royal Bank of Canada now owns 183,284 shares of the information technology services provider’s stock worth $46,864,000 after purchasing an additional 133,163 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

EPAM Systems Stock Down 0.2 %

EPAM Systems stock traded down $0.35 during trading on Friday, reaching $177.61. 674,287 shares of the company’s stock were exchanged, compared to its average volume of 613,358. The company’s 50-day moving average is $214.57 and its two-hundred day moving average is $263.44. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.68 and a current ratio of 4.68. EPAM Systems, Inc. has a 52-week low of $172.95 and a 52-week high of $317.50. The firm has a market cap of $10.30 billion, a price-to-earnings ratio of 24.30, a PEG ratio of 4.16 and a beta of 1.42.

EPAM Systems (NYSE:EPAMGet Free Report) last posted its quarterly earnings data on Thursday, May 9th. The information technology services provider reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.09. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. EPAM Systems had a net margin of 9.28% and a return on equity of 14.95%. On average, analysts predict that EPAM Systems, Inc. will post 7.81 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Wedbush restated an “outperform” rating and set a $340.00 price objective on shares of EPAM Systems in a research report on Wednesday, April 10th. Morgan Stanley upgraded EPAM Systems from an “underweight” rating to an “equal weight” rating and cut their price target for the company from $236.00 to $225.00 in a report on Friday, April 26th. Mizuho cut their price target on EPAM Systems from $345.00 to $258.00 and set a “buy” rating for the company in a report on Tuesday, May 14th. Scotiabank downgraded EPAM Systems from a “sector outperform” rating to a “sector perform” rating and cut their price target for the company from $300.00 to $245.00 in a report on Friday, May 10th. Finally, Piper Sandler cut their price target on EPAM Systems from $252.00 to $230.00 and set an “overweight” rating for the company in a report on Thursday. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, EPAM Systems presently has a consensus rating of “Moderate Buy” and an average price target of $276.35.

Read Our Latest Stock Report on EPAM Systems

EPAM Systems Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for EPAM Systems (NYSE:EPAM)

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