Federated Hermes Inc. Has $16.64 Million Stock Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Federated Hermes Inc. lifted its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 5,226.7% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 88,476 shares of the information technology services provider’s stock after buying an additional 86,815 shares during the quarter. Federated Hermes Inc. owned about 0.15% of EPAM Systems worth $16,643,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. DekaBank Deutsche Girozentrale grew its position in EPAM Systems by 6.1% during the second quarter. DekaBank Deutsche Girozentrale now owns 11,117 shares of the information technology services provider’s stock worth $1,992,000 after buying an additional 644 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in EPAM Systems in the second quarter valued at about $254,000. AIMZ Investment Advisors LLC bought a new stake in EPAM Systems during the second quarter worth about $4,255,000. American Century Companies Inc. grew its stake in EPAM Systems by 7.6% during the second quarter. American Century Companies Inc. now owns 13,982 shares of the information technology services provider’s stock worth $2,630,000 after buying an additional 987 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in EPAM Systems by 12.9% in the 2nd quarter. Daiwa Securities Group Inc. now owns 6,394 shares of the information technology services provider’s stock valued at $1,203,000 after buying an additional 731 shares during the period. Institutional investors own 91.58% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on EPAM shares. Barclays lifted their price objective on shares of EPAM Systems from $200.00 to $225.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. StockNews.com raised EPAM Systems from a “hold” rating to a “buy” rating in a report on Monday. The Goldman Sachs Group began coverage on EPAM Systems in a research note on Monday, June 24th. They issued a “neutral” rating and a $200.00 price objective on the stock. Jefferies Financial Group boosted their target price on EPAM Systems from $237.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Finally, Redburn Atlantic initiated coverage on shares of EPAM Systems in a research note on Friday, May 24th. They issued a “neutral” rating and a $195.00 price target on the stock. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, EPAM Systems presently has an average rating of “Moderate Buy” and an average price target of $258.32.

EPAM Systems Stock Up 1.8 %

EPAM Systems stock opened at $205.46 on Tuesday. The firm has a market cap of $11.91 billion, a price-to-earnings ratio of 28.11, a PEG ratio of 4.48 and a beta of 1.45. The company has a current ratio of 4.84, a quick ratio of 4.84 and a debt-to-equity ratio of 0.01. EPAM Systems, Inc. has a 12 month low of $169.43 and a 12 month high of $317.50. The stock has a fifty day simple moving average of $201.88 and a two-hundred day simple moving average of $220.28.

EPAM Systems (NYSE:EPAM) last released its quarterly earnings results on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.19. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. EPAM Systems had a return on equity of 14.31% and a net margin of 8.86%. EPAM Systems’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.21 earnings per share. Equities analysts predict that EPAM Systems, Inc. will post 8.06 EPS for the current fiscal year.

EPAM Systems declared that its board has initiated a stock buyback plan on Thursday, August 8th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire up to 4.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

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.