Blue Trust Inc. Sells 132 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Blue Trust Inc. lowered its stake in shares of EPAM Systems, Inc. (NYSE:EPAM) by 28.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 333 shares of the information technology services provider’s stock after selling 132 shares during the quarter. Blue Trust Inc.’s holdings in EPAM Systems were worth $63,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in EPAM. First Trust Direct Indexing L.P. grew its position in EPAM Systems by 13.6% during the first quarter. First Trust Direct Indexing L.P. now owns 883 shares of the information technology services provider’s stock valued at $244,000 after buying an additional 106 shares during the period. Veracity Capital LLC boosted its position in EPAM Systems by 92.7% during the first quarter. Veracity Capital LLC now owns 1,476 shares of the information technology services provider’s stock worth $408,000 after purchasing an additional 710 shares during the period. Van ECK Associates Corp boosted its position in EPAM Systems by 6.9% during the first quarter. Van ECK Associates Corp now owns 8,901 shares of the information technology services provider’s stock worth $2,458,000 after purchasing an additional 573 shares during the period. Mission Wealth Management LP boosted its position in EPAM Systems by 57.1% during the first quarter. Mission Wealth Management LP now owns 1,103 shares of the information technology services provider’s stock worth $305,000 after purchasing an additional 401 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in EPAM Systems by 1.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,200 shares of the information technology services provider’s stock worth $2,857,000 after purchasing an additional 113 shares during the period. Institutional investors own 91.58% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on EPAM shares. StockNews.com upgraded shares of EPAM Systems from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. 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 target price 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 research report on Friday, September 6th. Citigroup increased their target price on shares of EPAM Systems from $207.00 to $210.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Piper Sandler reiterated an “overweight” rating and set a $225.00 target price on shares of EPAM Systems in a research report on Tuesday, October 8th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $254.89.

EPAM Systems Trading Down 2.5 %

Shares of EPAM opened at $189.01 on Thursday. The firm’s 50 day simple moving average is $198.45 and its 200 day simple moving average is $200.21. The company has a market capitalization of $10.96 billion, a P/E ratio of 25.86, a P/E/G ratio of 4.35 and a beta of 1.45. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.84 and a quick ratio of 4.84. EPAM Systems, Inc. has a 1-year low of $169.43 and a 1-year high of $317.50.

EPAM Systems (NYSE:EPAM) last announced its earnings results on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share 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 net margin of 8.86% and a return on equity of 14.31%. EPAM Systems’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the firm posted $2.21 earnings per share. Sell-side analysts forecast that EPAM Systems, Inc. will post 8.08 earnings per share for the current fiscal year.

EPAM Systems declared that its board has approved a stock repurchase program on Thursday, August 8th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the information technology services provider to purchase up to 4.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board 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.