Distillate Capital Partners LLC Buys Shares of 74,910 EPAM Systems, Inc. (NYSE:EPAM)

Distillate Capital Partners LLC purchased a new stake in EPAM Systems, Inc. (NYSE:EPAM) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 74,910 shares of the information technology services provider’s stock, valued at approximately $14,091,000. Distillate Capital Partners LLC owned approximately 0.13% of EPAM Systems at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in EPAM. Price T Rowe Associates Inc. MD raised its holdings in EPAM Systems by 372.2% in 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 last quarter. Intech Investment Management LLC bought a new position in shares of EPAM Systems during the 4th quarter worth approximately $285,000. Duality Advisers LP increased its stake in shares of EPAM Systems by 60.7% in the 1st quarter. Duality Advisers LP now owns 10,754 shares of the information technology services provider’s stock valued at $2,970,000 after acquiring an additional 4,061 shares in the last quarter. Allianz Asset Management GmbH lifted its position in shares of EPAM Systems by 12.7% during the 4th quarter. Allianz Asset Management GmbH now owns 60,126 shares of the information technology services provider’s stock valued at $17,878,000 after acquiring an additional 6,798 shares during the period. Finally, Diversified Trust Co bought a new position in EPAM Systems during the second quarter worth $734,000. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the company. JPMorgan Chase & Co. raised their target price on EPAM Systems from $222.00 to $262.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Jefferies Financial Group increased their target price on EPAM Systems from $237.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Piper Sandler reiterated an “overweight” rating and set a $225.00 price target on shares of EPAM Systems in a report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft initiated coverage on EPAM Systems in a research report on Thursday, August 22nd. They set a “hold” rating and a $204.00 price target for the company. Finally, The Goldman Sachs Group initiated coverage on shares of EPAM Systems in a report on Monday, June 24th. They issued a “neutral” rating and a $200.00 price target on the stock. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, EPAM Systems presently has a consensus rating of “Moderate Buy” and an average price target of $258.32.

EPAM Systems Stock Up 0.7 %

EPAM opened at $198.45 on Tuesday. The company has a market cap of $11.50 billion, a P/E ratio of 27.15, a P/E/G ratio of 4.48 and a beta of 1.45. The business’s 50-day moving average price is $203.18 and its 200-day moving average price is $215.68. 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.

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

EPAM Systems declared that its board has initiated a share buyback program on Thursday, August 8th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to purchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are often 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.