Raymond James & Associates Boosts Stock Position in EPAM Systems, Inc. (NYSE:EPAM)

Raymond James & Associates increased its stake in EPAM Systems, Inc. (NYSE:EPAM) by 1,741.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 36,694 shares of the information technology services provider’s stock after purchasing an additional 34,701 shares during the quarter. Raymond James & Associates owned about 0.06% of EPAM Systems worth $7,303,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Pacer Advisors Inc. grew its holdings in EPAM Systems by 14,325.2% during the 2nd quarter. Pacer Advisors Inc. now owns 657,070 shares of the information technology services provider’s stock valued at $123,601,000 after buying an additional 652,515 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in EPAM Systems during the 2nd quarter worth approximately $84,850,000. TD Asset Management Inc lifted its stake in EPAM Systems by 80.0% in the 2nd quarter. TD Asset Management Inc now owns 595,486 shares of the information technology services provider’s stock worth $112,017,000 after purchasing an additional 264,570 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in EPAM Systems by 47,294.2% in the 2nd quarter. Acadian Asset Management LLC now owns 189,103 shares of the information technology services provider’s stock valued at $35,560,000 after purchasing an additional 188,704 shares during the period. Finally, Epoch Investment Partners Inc. grew its position in shares of EPAM Systems by 97.7% during the 2nd quarter. Epoch Investment Partners Inc. now owns 338,667 shares of the information technology services provider’s stock valued at $63,707,000 after purchasing an additional 167,343 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors.

EPAM Systems Stock Down 2.5 %

EPAM opened at $189.01 on Thursday. EPAM Systems, Inc. has a 12 month low of $169.43 and a 12 month high of $317.50. The company has a current ratio of 4.84, a quick ratio of 4.84 and a debt-to-equity ratio of 0.01. The business’s 50-day moving average price is $198.45 and its 200-day moving average price is $200.21. The company has a market cap 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.

EPAM Systems (NYSE:EPAM) last announced its quarterly earnings results on Thursday, August 8th. The information technology services provider reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.19. EPAM Systems had a return on equity of 14.31% and a net margin of 8.86%. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the previous year, the firm earned $2.21 EPS. The business’s quarterly revenue was down 2.0% on a year-over-year basis. On average, equities analysts expect that EPAM Systems, Inc. will post 8.08 EPS for the current year.

EPAM Systems announced that its board has authorized a share buyback program 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 purchase up to 4.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on EPAM shares. StockNews.com upgraded EPAM Systems from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. Barclays raised their price target on EPAM Systems from $200.00 to $225.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Susquehanna cut their price objective on EPAM Systems from $260.00 to $240.00 and set a “positive” rating for the company in a report on Friday, August 9th. Jefferies Financial Group raised their target price on shares of EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 9th. Finally, Citigroup lifted their target price on shares of EPAM Systems from $207.00 to $210.00 and gave the company a “neutral” rating in a research report on Monday. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $254.89.

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.