Handelsbanken Fonder AB Grows Stock Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Handelsbanken Fonder AB lifted its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 25.4% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,300 shares of the information technology services provider’s stock after buying an additional 3,500 shares during the quarter. Handelsbanken Fonder AB’s holdings in EPAM Systems were worth $2,921,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. American Century Companies Inc. lifted its stake in shares of EPAM Systems by 35.8% during the 4th quarter. American Century Companies Inc. now owns 20,597 shares of the information technology services provider’s stock valued at $4,816,000 after buying an additional 5,435 shares in the last quarter. DnB Asset Management AS lifted its stake in shares of EPAM Systems by 26.4% during the 4th quarter. DnB Asset Management AS now owns 11,245 shares of the information technology services provider’s stock valued at $2,629,000 after buying an additional 2,349 shares in the last quarter. Pinebridge Investments L.P. lifted its stake in shares of EPAM Systems by 66.6% during the 4th quarter. Pinebridge Investments L.P. now owns 18,953 shares of the information technology services provider’s stock valued at $4,432,000 after buying an additional 7,576 shares in the last quarter. ProShare Advisors LLC lifted its stake in shares of EPAM Systems by 8.9% during the 4th quarter. ProShare Advisors LLC now owns 12,164 shares of the information technology services provider’s stock valued at $2,844,000 after buying an additional 998 shares in the last quarter. Finally, Groupama Asset Managment purchased a new stake in EPAM Systems in the 4th quarter worth $1,369,000. Hedge funds and other institutional investors own 91.58% of the company’s stock.

EPAM Systems Price Performance

Shares of EPAM stock opened at $170.44 on Friday. 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 company has a market capitalization of $9.66 billion, a P/E ratio of 21.74, a P/E/G ratio of 3.38 and a beta of 1.72. The company’s 50-day simple moving average is $167.13 and its two-hundred day simple moving average is $203.92. EPAM Systems, Inc. has a one year low of $138.15 and a one year high of $269.00.

EPAM Systems (NYSE:EPAM) last issued its earnings results on Thursday, May 8th. The information technology services provider reported $2.41 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.14. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.28 billion. EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.46 EPS. As a group, equities analysts anticipate that EPAM Systems, Inc. will post 8.9 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on EPAM shares. Morgan Stanley decreased their price target on shares of EPAM Systems from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Friday, May 9th. Needham & Company LLC boosted their price target on shares of EPAM Systems from $185.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Barclays boosted their price target on shares of EPAM Systems from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Monday, May 12th. Wall Street Zen downgraded shares of EPAM Systems from a “buy” rating to a “hold” rating in a report on Saturday, April 12th. Finally, Scotiabank reduced their target price on shares of EPAM Systems from $250.00 to $200.00 and set a “sector outperform” rating on the stock in a report on Tuesday, April 29th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $233.93.

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.