EPAM Systems, Inc. (NYSE:EPAM) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp cut its position in EPAM Systems, Inc. (NYSE:EPAM) by 19.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,553 shares of the information technology services provider’s stock after selling 2,377 shares during the period. Texas Permanent School Fund Corp’s holdings in EPAM Systems were worth $1,797,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in EPAM Systems during the fourth quarter worth approximately $184,713,000. Manning & Napier Advisors LLC purchased a new stake in shares of EPAM Systems in the second quarter valued at about $84,850,000. Price T Rowe Associates Inc. MD increased its position in EPAM Systems by 372.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 476,311 shares of the information technology services provider’s stock worth $141,627,000 after purchasing an additional 375,439 shares during the last quarter. TD Asset Management Inc raised its stake in EPAM Systems by 80.0% during the second quarter. TD Asset Management Inc now owns 595,486 shares of the information technology services provider’s stock worth $112,017,000 after purchasing an additional 264,570 shares during the period. Finally, Acadian Asset Management LLC boosted its holdings in EPAM Systems by 47,294.2% in the 2nd quarter. Acadian Asset Management LLC now owns 189,103 shares of the information technology services provider’s stock valued at $35,560,000 after purchasing an additional 188,704 shares during the last quarter. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on EPAM shares. JPMorgan Chase & Co. lifted their price target on shares of EPAM Systems from $222.00 to $262.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Piper Sandler restated an “overweight” rating and issued a $225.00 target price on shares of EPAM Systems in a research report on Wednesday, September 4th. The Goldman Sachs Group initiated coverage on EPAM Systems in a report on Monday, June 24th. They set a “neutral” rating and a $200.00 price target for the company. 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 objective on the stock. Finally, Susquehanna dropped their price target on shares of EPAM Systems from $260.00 to $240.00 and set a “positive” rating for the company in a research report on Friday, August 9th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $258.32.

EPAM Systems Trading Down 1.2 %

EPAM opened at $197.94 on Thursday. The business’s 50 day moving average is $202.63 and its two-hundred day moving average is $218.83. EPAM Systems, Inc. has a 52 week low of $169.43 and a 52 week high of $317.50. The firm has a market cap of $11.48 billion, a price-to-earnings ratio of 27.01, a price-to-earnings-growth ratio of 4.48 and a beta of 1.45. The company has a quick ratio of 4.84, a current ratio of 4.84 and a debt-to-equity ratio of 0.01.

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

EPAM Systems announced that its Board of Directors has approved a share buyback plan on Thursday, August 8th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the information technology services provider to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are 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.