Victory Capital Management Inc. Lowers Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Victory Capital Management Inc. decreased its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 30.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,844 shares of the information technology services provider’s stock after selling 8,975 shares during the period. Victory Capital Management Inc.’s holdings in EPAM Systems were worth $3,921,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Principal Securities Inc. purchased a new position in shares of EPAM Systems during the 4th quarter worth about $43,000. Dimensional Fund Advisors LP grew its stake in EPAM Systems by 16.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 249,569 shares of the information technology services provider’s stock worth $74,210,000 after buying an additional 35,568 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of EPAM Systems by 0.5% during the fourth quarter. Principal Financial Group Inc. now owns 74,253 shares of the information technology services provider’s stock valued at $22,078,000 after acquiring an additional 388 shares in the last quarter. Panagora Asset Management Inc. purchased a new position in shares of EPAM Systems in the fourth quarter worth $658,000. Finally, Brown Advisory Inc. lifted its position in EPAM Systems by 290.3% during the 4th quarter. Brown Advisory Inc. now owns 3,275 shares of the information technology services provider’s stock worth $974,000 after acquiring an additional 2,436 shares during the period. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on EPAM shares. Susquehanna cut their price target on EPAM Systems from $260.00 to $240.00 and set a “positive” rating on the stock in a research report on Friday, August 9th. Redburn Atlantic assumed coverage on EPAM Systems in a research report on Friday, May 24th. They issued a “neutral” rating and a $195.00 target price on the stock. Piper Sandler reiterated an “overweight” rating and issued a $225.00 price objective on shares of EPAM Systems in a report on Wednesday, September 4th. StockNews.com upgraded shares of EPAM Systems from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Barclays increased their price target on EPAM Systems from $200.00 to $225.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $258.32.

EPAM Systems Stock Up 1.8 %

NYSE EPAM opened at $205.46 on Tuesday. EPAM Systems, Inc. has a 1-year low of $169.43 and a 1-year 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 stock’s 50 day moving average is $201.88 and its two-hundred day moving average is $220.28. The company has a market capitalization of $11.91 billion, a price-to-earnings ratio of 28.11, a PEG ratio of 4.48 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 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.19. The firm had revenue of $1.15 billion for 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%. The business’s 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. Equities analysts forecast that EPAM Systems, Inc. will post 8.06 earnings per share for the current fiscal year.

EPAM Systems declared that its board has authorized a stock buyback plan on Thursday, August 8th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the information technology services provider to buy up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

About EPAM Systems

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.