Edgestream Partners L.P. Has $1.33 Million Position in EPAM Systems, Inc. (NYSE:EPAM)

Edgestream Partners L.P. raised its stake in shares of EPAM Systems, Inc. (NYSE:EPAM) by 167.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,052 shares of the information technology services provider’s stock after buying an additional 4,412 shares during the period. Edgestream Partners L.P.’s holdings in EPAM Systems were worth $1,327,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD raised its holdings in shares of EPAM Systems by 372.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 476,311 shares of the information technology services provider’s stock valued at $141,627,000 after purchasing an additional 375,439 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of EPAM Systems during the 4th quarter valued at $285,000. Duality Advisers LP raised its holdings in shares of EPAM Systems by 60.7% during the 1st quarter. Duality Advisers LP now owns 10,754 shares of the information technology services provider’s stock valued at $2,970,000 after purchasing an additional 4,061 shares in the last quarter. Allianz Asset Management GmbH raised its holdings in shares of EPAM Systems by 12.7% during the 4th quarter. Allianz Asset Management GmbH now owns 60,126 shares of the information technology services provider’s stock valued at $17,878,000 after purchasing an additional 6,798 shares in the last quarter. Finally, Diversified Trust Co bought a new position in shares of EPAM Systems during the 2nd quarter valued at $734,000. Institutional investors own 91.58% of the company’s stock.

EPAM Systems Stock Down 0.5 %

Shares of EPAM opened at $197.00 on Friday. EPAM Systems, Inc. has a 52 week low of $169.43 and a 52 week high of $317.50. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.84 and a current ratio of 4.84. The firm has a market capitalization of $11.42 billion, a P/E ratio of 26.95, a P/E/G ratio of 4.48 and a beta of 1.45. The company has a 50-day simple moving average of $203.20 and a 200-day simple moving average of $217.78.

EPAM Systems (NYSE:EPAM) last posted its quarterly earnings results on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.19. EPAM Systems had a net margin of 8.86% and a return on equity of 14.31%. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the business posted $2.21 earnings per share. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, equities research analysts expect that EPAM Systems, Inc. will post 8.06 earnings per share for the current year.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Jefferies Financial Group raised their price target on shares of EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 9th. Redburn Atlantic started coverage on shares of EPAM Systems in a research report on Friday, May 24th. They set a “neutral” rating and a $195.00 target price for the company. JPMorgan Chase & Co. boosted 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. The Goldman Sachs Group started coverage on shares of EPAM Systems in a research report on Monday, June 24th. They set a “neutral” rating and a $200.00 target price for the company. Finally, Piper Sandler reissued an “overweight” rating and set a $225.00 target price on shares of EPAM Systems in a research report on Wednesday, September 4th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $258.32.

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.