Pacer Advisors Inc. Buys 652,515 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Pacer Advisors Inc. raised its stake in shares of EPAM Systems, Inc. (NYSE:EPAM) by 14,325.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 657,070 shares of the information technology services provider’s stock after acquiring an additional 652,515 shares during the quarter. Pacer Advisors Inc. owned approximately 1.13% of EPAM Systems worth $123,601,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Canada Pension Plan Investment Board lifted its holdings in EPAM Systems by 51.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 46,893 shares of the information technology services provider’s stock valued at $8,821,000 after purchasing an additional 15,965 shares during the last quarter. Hsbc Holdings PLC grew its stake in EPAM Systems by 28.4% during the second quarter. Hsbc Holdings PLC now owns 279,031 shares of the information technology services provider’s stock worth $52,280,000 after buying an additional 61,787 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of EPAM Systems by 8.5% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 3,961 shares of the information technology services provider’s stock worth $737,000 after buying an additional 309 shares in the last quarter. Amalgamated Bank raised its stake in shares of EPAM Systems by 37.4% in the second quarter. Amalgamated Bank now owns 17,056 shares of the information technology services provider’s stock valued at $3,208,000 after acquiring an additional 4,647 shares during the last quarter. Finally, Edgestream Partners L.P. raised its stake in shares of EPAM Systems by 167.1% in the second quarter. Edgestream Partners L.P. now owns 7,052 shares of the information technology services provider’s stock valued at $1,327,000 after acquiring an additional 4,412 shares during the last quarter. 91.58% of the stock is owned by institutional investors.

EPAM Systems Trading Down 0.5 %

EPAM opened at $197.00 on Friday. The stock 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 current ratio of 4.84, a quick ratio of 4.84 and a debt-to-equity ratio of 0.01. EPAM Systems, Inc. has a 12 month low of $169.43 and a 12 month high of $317.50. The firm’s fifty day simple moving average is $203.20 and its 200 day simple moving average is $217.78.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings results on Thursday, August 8th. The information technology services provider reported $2.45 EPS for the quarter, beating 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 company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the company posted $2.21 earnings per share. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. As a group, research analysts anticipate that EPAM Systems, Inc. will post 8.06 EPS for the current fiscal year.

EPAM Systems declared that its Board of Directors 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 generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

EPAM has been the topic of a number of research analyst reports. Jefferies Financial Group increased their price target on EPAM Systems from $237.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Redburn Atlantic began coverage on EPAM Systems in a research note on Friday, May 24th. They issued a “neutral” rating and a $195.00 target price for the company. The Goldman Sachs Group began coverage on shares of EPAM Systems in a report on Monday, June 24th. They set a “neutral” rating and a $200.00 price objective on the stock. Itau BBA Securities raised shares of EPAM Systems from an “underperform” rating to a “market perform” rating in a research note on Friday, August 9th. Finally, StockNews.com upgraded EPAM Systems from a “hold” rating to a “buy” rating in a report on Monday, September 16th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $258.32.

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.