ProShare Advisors LLC Raises Stock Holdings in EPAM Systems, Inc. (NYSE:EPAM)

ProShare Advisors LLC boosted its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM) by 8.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,164 shares of the information technology services provider’s stock after buying an additional 998 shares during the period. ProShare Advisors LLC’s holdings in EPAM Systems were worth $2,844,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its position in EPAM Systems by 90.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 54 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its position in EPAM Systems by 2,500.0% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 130 shares of the information technology services provider’s stock valued at $30,000 after buying an additional 125 shares in the last quarter. TD Private Client Wealth LLC increased its position in EPAM Systems by 88.5% during the 4th quarter. TD Private Client Wealth LLC now owns 147 shares of the information technology services provider’s stock valued at $34,000 after buying an additional 69 shares in the last quarter. Manchester Capital Management LLC increased its position in EPAM Systems by 590.0% during the 4th quarter. Manchester Capital Management LLC now owns 207 shares of the information technology services provider’s stock valued at $48,000 after buying an additional 177 shares in the last quarter. Finally, Physician Wealth Advisors Inc. acquired a new position in EPAM Systems during the 4th quarter valued at about $49,000. 91.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on EPAM shares. StockNews.com lowered EPAM Systems from a “buy” rating to a “hold” rating in a research report on Saturday, April 12th. Morgan Stanley reduced their target price on EPAM Systems from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Friday, May 9th. Scotiabank cut their price objective on EPAM Systems from $250.00 to $200.00 and set a “sector outperform” rating on the stock in a report on Tuesday, April 29th. Piper Sandler increased their price objective on EPAM Systems from $170.00 to $194.00 and gave the company a “neutral” rating in a report on Friday, May 9th. Finally, Guggenheim increased their price objective on EPAM Systems from $210.00 to $215.00 and gave the company a “buy” rating in a report on Friday, May 9th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, EPAM Systems has a consensus rating of “Moderate Buy” and a consensus price target of $231.50.

EPAM Systems Stock Up 1.2%

EPAM Systems stock opened at $185.87 on Wednesday. The firm has a market cap of $10.61 billion, a price-to-earnings ratio of 23.71, a price-to-earnings-growth ratio of 3.38 and a beta of 1.71. EPAM Systems, Inc. has a 52 week low of $138.15 and a 52 week high of $269.00. The business’s 50-day moving average price is $164.78 and its 200 day moving average price is $210.78. 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) last posted its earnings results on Thursday, May 8th. The information technology services provider reported $2.41 EPS for the quarter, topping the consensus estimate of $2.27 by $0.14. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.28 billion. EPAM Systems had a return on equity of 14.60% and a net margin of 9.61%. EPAM Systems’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period last year, the company earned $2.46 earnings per share. As a group, sell-side analysts anticipate 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.