PNC Financial Services Group Inc. Reduces Stock Position in EPAM Systems, Inc. (NYSE:EPAM)

PNC Financial Services Group Inc. reduced its holdings in EPAM Systems, Inc. (NYSE:EPAM) by 3.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,326 shares of the information technology services provider’s stock after selling 721 shares during the period. PNC Financial Services Group Inc.’s holdings in EPAM Systems were worth $5,746,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Benjamin F. Edwards & Company Inc. purchased a new position in shares of EPAM Systems during the 4th quarter worth about $25,000. VisionPoint Advisory Group LLC lifted its holdings in EPAM Systems by 103.0% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 136 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 69 shares in the last quarter. Principal Securities Inc. bought a new stake in EPAM Systems during the 4th quarter valued at about $43,000. Westpac Banking Corp lifted its holdings in EPAM Systems by 151.4% during the 4th quarter. Westpac Banking Corp now owns 176 shares of the information technology services provider’s stock valued at $52,000 after buying an additional 106 shares in the last quarter. Finally, SRS Capital Advisors Inc. lifted its holdings in EPAM Systems by 64.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 326 shares of the information technology services provider’s stock valued at $97,000 after buying an additional 128 shares in the last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

EPAM Systems Trading Down 2.3 %

NYSE:EPAM opened at $170.43 on Wednesday. EPAM Systems, Inc. has a 52 week low of $169.43 and a 52 week high of $317.50. The firm has a 50 day moving average of $208.84 and a 200 day moving average of $261.73. The company has a quick ratio of 4.68, a current ratio of 4.68 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $9.88 billion, a price-to-earnings ratio of 23.31, a PEG ratio of 4.11 and a beta of 1.42.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings results on Thursday, May 9th. The information technology services provider reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.09. EPAM Systems had a net margin of 9.28% and a return on equity of 14.95%. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. As a group, sell-side analysts anticipate that EPAM Systems, Inc. will post 7.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on EPAM shares. Wedbush reiterated an “outperform” rating and set a $340.00 price objective on shares of EPAM Systems in a report on Wednesday, April 10th. Piper Sandler reduced their price target on shares of EPAM Systems from $252.00 to $230.00 and set an “overweight” rating for the company in a report on Thursday, June 13th. Redburn Atlantic initiated coverage on shares of EPAM Systems in a report on Friday, May 24th. They issued a “neutral” rating and a $195.00 price target for the company. Citigroup reduced their price target on shares of EPAM Systems from $325.00 to $275.00 and set a “neutral” rating for the company in a report on Monday, April 22nd. Finally, Barclays reduced their price target on shares of EPAM Systems from $265.00 to $200.00 and set an “equal weight” rating for the company in a report on Monday, May 13th. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, EPAM Systems has an average rating of “Moderate Buy” and an average target price of $276.35.

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.