Millennium Management LLC Purchases 135,244 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Millennium Management LLC raised its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 62.7% in the fourth quarter, HoldingsChannel reports. The firm owned 350,960 shares of the information technology services provider’s stock after buying an additional 135,244 shares during the quarter. Millennium Management LLC’s holdings in EPAM Systems were worth $82,061,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Barclays PLC lifted its position in EPAM Systems by 12.2% during the third quarter. Barclays PLC now owns 128,629 shares of the information technology services provider’s stock valued at $25,602,000 after purchasing an additional 13,981 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of EPAM Systems by 1.2% in the third quarter. Principal Financial Group Inc. now owns 70,674 shares of the information technology services provider’s stock worth $14,066,000 after buying an additional 848 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of EPAM Systems by 1.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,380 shares of the information technology services provider’s stock valued at $1,024,000 after buying an additional 74 shares in the last quarter. Czech National Bank increased its holdings in EPAM Systems by 6.0% in the 4th quarter. Czech National Bank now owns 12,299 shares of the information technology services provider’s stock worth $2,876,000 after acquiring an additional 701 shares in the last quarter. Finally, Oak Thistle LLC purchased a new stake in EPAM Systems in the 4th quarter worth approximately $5,058,000. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on EPAM. Susquehanna dropped their price target on shares of EPAM Systems from $270.00 to $210.00 and set a “positive” rating for the company in a research report on Wednesday, April 23rd. StockNews.com downgraded shares of EPAM Systems from a “buy” rating to a “hold” rating in a report on Saturday, April 12th. Barclays increased their price target on EPAM Systems from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Monday. Needham & Company LLC boosted their price objective on EPAM Systems from $185.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Finally, Morgan Stanley dropped their price objective on EPAM Systems from $250.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday, May 9th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $231.50.

EPAM Systems Stock Down 1.4%

Shares of EPAM opened at $184.29 on Thursday. The business’s 50 day simple moving average is $165.05 and its 200-day simple moving average is $210.80. EPAM Systems, Inc. has a 1 year low of $138.15 and a 1 year high of $269.00. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.96 and a quick ratio of 4.56. The stock has a market capitalization of $10.52 billion, a price-to-earnings ratio of 23.51, a price-to-earnings-growth ratio of 3.38 and a beta of 1.71.

EPAM Systems (NYSE:EPAM) last released its quarterly earnings data on Thursday, May 8th. The information technology services provider reported $2.41 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 business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter last year, the business earned $2.46 earnings per share. EPAM Systems’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, equities analysts expect that EPAM Systems, Inc. will post 8.9 earnings per share for the current fiscal year.

EPAM Systems 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.