MBB Public Markets I LLC Makes New Investment in EPAM Systems, Inc. (NYSE:EPAM)

MBB Public Markets I LLC purchased a new stake in shares of EPAM Systems, Inc. (NYSE:EPAM) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,354 shares of the information technology services provider’s stock, valued at approximately $631,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Czech National Bank grew its position in EPAM Systems by 0.5% during the first quarter. Czech National Bank now owns 10,152 shares of the information technology services provider’s stock valued at $2,804,000 after buying an additional 46 shares during the period. Retirement Systems of Alabama grew its position in shares of EPAM Systems by 0.4% during the 2nd quarter. Retirement Systems of Alabama now owns 12,788 shares of the information technology services provider’s stock valued at $2,406,000 after acquiring an additional 52 shares during the period. Motley Fool Asset Management LLC increased its stake in shares of EPAM Systems by 5.2% in the 1st quarter. Motley Fool Asset Management LLC now owns 1,124 shares of the information technology services provider’s stock worth $310,000 after purchasing an additional 56 shares in the last quarter. Taylor Frigon Capital Management LLC raised its holdings in EPAM Systems by 0.5% in the 2nd quarter. Taylor Frigon Capital Management LLC now owns 12,339 shares of the information technology services provider’s stock worth $2,321,000 after purchasing an additional 56 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in EPAM Systems by 1.1% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,788 shares of the information technology services provider’s stock valued at $1,089,000 after purchasing an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on EPAM Systems in a research report on Thursday, August 22nd. They issued a “hold” rating and a $204.00 price target for the company. JPMorgan Chase & Co. increased their target price on shares of EPAM Systems from $222.00 to $262.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Susquehanna decreased their target price on shares of EPAM Systems from $260.00 to $240.00 and set a “positive” rating on the stock in a research note on Friday, August 9th. Barclays upped their price target on shares of EPAM Systems from $200.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Finally, Jefferies Financial Group raised their price objective on shares of EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, EPAM Systems has an average rating of “Hold” and an average price target of $258.32.

EPAM Systems Stock Performance

EPAM Systems stock opened at $196.44 on Wednesday. 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, Inc. has a twelve month low of $169.43 and a twelve month high of $317.50. The company’s 50-day moving average price is $201.91 and its 200-day moving average price is $211.93. The company has a market cap of $11.39 billion, a PE ratio of 26.87, a price-to-earnings-growth ratio of 4.36 and a beta of 1.45.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings data on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.19. The business had revenue of $1.15 billion for 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. On average, equities research analysts forecast that EPAM Systems, Inc. will post 8.07 EPS for the current fiscal year.

EPAM Systems announced that its board has authorized 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 shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

EPAM Systems Company 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.