Ensign Peak Advisors Inc Has $20.94 Million Position in EPAM Systems, Inc. (NYSE:EPAM)

Ensign Peak Advisors Inc cut its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM) by 31.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 111,297 shares of the information technology services provider’s stock after selling 50,579 shares during the period. Ensign Peak Advisors Inc owned about 0.19% of EPAM Systems worth $20,936,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of 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 period. Intech Investment Management LLC bought a new stake in shares of EPAM Systems in the 4th quarter valued at about $285,000. Duality Advisers LP increased its stake in shares of EPAM Systems by 60.7% in the first quarter. Duality Advisers LP now owns 10,754 shares of the information technology services provider’s stock valued at $2,970,000 after buying an additional 4,061 shares during the period. Allianz Asset Management GmbH lifted its stake in shares of EPAM Systems by 12.7% in the fourth quarter. Allianz Asset Management GmbH now owns 60,126 shares of the information technology services provider’s stock worth $17,878,000 after acquiring an additional 6,798 shares during the period. Finally, Diversified Trust Co bought a new stake in EPAM Systems in the second quarter valued at approximately $734,000. 91.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Piper Sandler restated an “overweight” rating and set a $225.00 price target on shares of EPAM Systems in a report on Wednesday, September 4th. Jefferies Financial Group lifted their target price on shares of EPAM Systems from $237.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Deutsche Bank Aktiengesellschaft started coverage on shares of EPAM Systems in a research report on Thursday, August 22nd. They set a “hold” rating and a $204.00 price target on the stock. Susquehanna lowered their price objective on EPAM Systems from $260.00 to $240.00 and set a “positive” rating for the company in a research report on Friday, August 9th. Finally, The Goldman Sachs Group assumed coverage on EPAM Systems in a research note on Monday, June 24th. They set a “neutral” rating and a $200.00 target price for the company. 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 has a consensus rating of “Moderate Buy” and an average price target of $258.32.

EPAM Systems Price Performance

Shares of NYSE EPAM opened at $197.00 on Monday. The stock has a market cap of $11.42 billion, a price-to-earnings ratio of 26.95, a PEG ratio of 4.48 and a beta of 1.45. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.84 and a current ratio of 4.84. EPAM Systems, Inc. has a fifty-two week low of $169.43 and a fifty-two week high of $317.50. The firm’s 50-day simple moving average is $203.20 and its 200 day simple moving average is $216.50.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings data 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 firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate 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 period in the prior year, the business posted $2.21 earnings per share. As a group, research analysts anticipate that EPAM Systems, Inc. will post 8.06 earnings per share for the current fiscal year.

EPAM Systems announced that its board has initiated a stock buyback program 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 buy up to 4.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

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.