EPAM Systems, Inc. (NYSE:EPAM) Position Reduced by American International Group Inc.

American International Group Inc. trimmed its position in EPAM Systems, Inc. (NYSE:EPAM) by 1.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,546 shares of the information technology services provider’s stock after selling 225 shares during the quarter. American International Group Inc.’s holdings in EPAM Systems were worth $5,514,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of EPAM Systems during the fourth quarter worth approximately $184,713,000. Price T Rowe Associates Inc. MD boosted its stake in shares of EPAM Systems by 372.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 476,311 shares of the information technology services provider’s stock valued at $141,627,000 after buying an additional 375,439 shares during the period. International Assets Investment Management LLC purchased a new position in shares of EPAM Systems during the 4th quarter valued at $663,080,000. TD Asset Management Inc raised its holdings in shares of EPAM Systems by 317.4% during the fourth quarter. TD Asset Management Inc now owns 263,255 shares of the information technology services provider’s stock worth $78,276,000 after acquiring an additional 200,181 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in EPAM Systems by 265.7% during the third quarter. Royal Bank of Canada now owns 183,284 shares of the information technology services provider’s stock valued at $46,864,000 after purchasing an additional 133,163 shares during the last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

EPAM Systems Stock Performance

EPAM opened at $184.67 on Friday. 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’s 50 day moving average price is $203.74 and its two-hundred day moving average price is $260.01. The firm has a market capitalization of $10.71 billion, a P/E ratio of 25.26, a price-to-earnings-growth ratio of 3.94 and a beta of 1.42. EPAM Systems, Inc. has a 12-month low of $169.43 and a 12-month high of $317.50.

EPAM Systems (NYSE:EPAM) last announced its quarterly earnings data on Thursday, May 9th. The information technology services provider reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.09. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. EPAM Systems had a net margin of 9.28% and a return on equity of 14.95%. On average, equities analysts forecast that EPAM Systems, Inc. will post 7.81 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on EPAM shares. Mizuho dropped their target price on EPAM Systems from $345.00 to $258.00 and set a “buy” rating on the stock in a research report on Tuesday, May 14th. TD Cowen dropped their price objective on EPAM Systems from $282.00 to $203.00 and set a “hold” rating on the stock in a report on Friday, May 10th. Needham & Company LLC reduced their target price on shares of EPAM Systems from $350.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Wolfe Research lowered shares of EPAM Systems from an “outperform” rating to a “peer perform” rating in a research note on Friday, May 17th. Finally, Piper Sandler cut their price target on shares of EPAM Systems from $252.00 to $230.00 and set an “overweight” rating on the stock in a report on Thursday, June 13th. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.