NBC Securities Inc. Grows Stock Position in EPAM Systems, Inc. (NYSE:EPAM)

NBC Securities Inc. grew its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 549.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,097 shares of the information technology services provider’s stock after buying an additional 928 shares during the period. NBC Securities Inc.’s holdings in EPAM Systems were worth $218,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in EPAM Systems by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 6,865,123 shares of the information technology services provider’s stock valued at $1,895,872,000 after buying an additional 39,531 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of EPAM Systems by 14,325.2% in the second quarter. Pacer Advisors Inc. now owns 657,070 shares of the information technology services provider’s stock worth $123,601,000 after acquiring an additional 652,515 shares during the period. TD Asset Management Inc grew its position in shares of EPAM Systems by 80.0% in the second quarter. TD Asset Management Inc now owns 595,486 shares of the information technology services provider’s stock valued at $112,017,000 after purchasing an additional 264,570 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of EPAM Systems by 22.6% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 512,353 shares of the information technology services provider’s stock valued at $139,516,000 after purchasing an additional 94,544 shares during the period. Finally, Manning & Napier Advisors LLC purchased a new stake in EPAM Systems during the 2nd quarter worth about $84,850,000. Institutional investors own 91.58% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on EPAM. Barclays upped their price target on EPAM Systems from $200.00 to $225.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Susquehanna lowered 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. Itau BBA Securities upgraded shares of EPAM Systems from an “underperform” rating to a “market perform” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. upped their price target 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. Finally, 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 report on Monday, September 9th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, EPAM Systems presently has an average rating of “Moderate Buy” and an average price target of $258.32.

EPAM Systems Stock Performance

NYSE EPAM opened at $201.58 on Friday. The company has a 50-day simple moving average of $199.06 and a two-hundred day simple moving average of $204.69. EPAM Systems, Inc. has a 12-month low of $169.43 and a 12-month high of $317.50. The firm has a market cap of $11.69 billion, a price-to-earnings ratio of 27.58, a PEG ratio of 4.26 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 issued its earnings results on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.19. The company 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%. EPAM Systems’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 EPS. On average, equities analysts forecast that EPAM Systems, Inc. will post 8.08 EPS for the current year.

EPAM Systems announced that its Board of Directors has authorized a stock buyback plan on Thursday, August 8th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the information technology services provider to buy up to 4.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership 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.