Tidal Investments LLC Raises Position in EPAM Systems, Inc. (NYSE:EPAM)

Tidal Investments LLC grew its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM) by 16.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,787 shares of the information technology services provider’s stock after purchasing an additional 1,106 shares during the period. Tidal Investments LLC’s holdings in EPAM Systems were worth $1,821,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Norges Bank purchased a new position in EPAM Systems in the 4th quarter worth $173,053,000. William Blair Investment Management LLC purchased a new position in EPAM Systems in the 4th quarter worth $166,906,000. Ameriprise Financial Inc. raised its stake in EPAM Systems by 39.8% in the 4th quarter. Ameriprise Financial Inc. now owns 2,181,143 shares of the information technology services provider’s stock worth $510,053,000 after acquiring an additional 620,551 shares during the last quarter. Marshall Wace LLP raised its stake in EPAM Systems by 126.4% in the 4th quarter. Marshall Wace LLP now owns 769,584 shares of the information technology services provider’s stock worth $179,944,000 after acquiring an additional 429,644 shares during the last quarter. Finally, Capital World Investors raised its stake in EPAM Systems by 22.0% in the 4th quarter. Capital World Investors now owns 2,304,243 shares of the information technology services provider’s stock worth $538,778,000 after acquiring an additional 414,942 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on EPAM. Stifel Nicolaus reduced their target price on EPAM Systems from $275.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Piper Sandler raised their target price on EPAM Systems from $170.00 to $194.00 and gave the stock a “neutral” rating in a research note on Friday, May 9th. Guggenheim raised their target price on EPAM Systems from $210.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Morgan Stanley cut their price target 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. Finally, Wall Street Zen downgraded EPAM Systems from a “buy” rating to a “hold” rating in a research report on Saturday, April 12th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $231.50.

EPAM Systems Price Performance

NYSE:EPAM opened at $175.89 on Friday. EPAM Systems, Inc. has a 52 week low of $138.15 and a 52 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 market capitalization of $9.96 billion, a PE ratio of 22.43, a price-to-earnings-growth ratio of 3.38 and a beta of 1.71. The stock’s 50-day moving average price is $164.56 and its 200-day moving average price is $210.42.

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, beating analysts’ consensus estimates of $2.27 by $0.14. EPAM Systems had a return on equity of 14.60% and a net margin of 9.61%. The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the firm earned $2.46 EPS. The company’s quarterly revenue was up 11.7% on a year-over-year basis. As a group, equities analysts expect that EPAM Systems, Inc. will post 8.9 EPS 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.