Sompo Asset Management Co. Ltd. Increases Stock Position in EPAM Systems, Inc. (NYSE:EPAM)

Sompo Asset Management Co. Ltd. boosted its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 46.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,420 shares of the information technology services provider’s stock after buying an additional 1,400 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in EPAM Systems were worth $831,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its position in shares of 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 acquiring an additional 652,515 shares during the period. Manning & Napier Advisors LLC acquired a new stake in EPAM Systems in the second quarter valued at approximately $84,850,000. Price T Rowe Associates Inc. MD increased its position in shares of EPAM Systems by 372.2% in the fourth 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 buying an additional 375,439 shares in the last quarter. TD Asset Management Inc raised its stake in shares of EPAM Systems by 80.0% during 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 buying an additional 264,570 shares during the period. Finally, Acadian Asset Management LLC lifted its position in shares of EPAM Systems by 47,294.2% during 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 buying an additional 188,704 shares in the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

EPAM Systems Stock Performance

Shares of EPAM Systems stock opened at $197.00 on Friday. The firm has a market cap of $11.42 billion, a PE ratio of 26.95, a price-to-earnings-growth ratio of 4.48 and a beta of 1.45. The company has a quick ratio of 4.84, a current ratio of 4.84 and a debt-to-equity ratio of 0.01. EPAM Systems, Inc. has a 52 week low of $169.43 and a 52 week high of $317.50. The business’s fifty day simple moving average is $203.20 and its 200-day simple moving average is $217.78.

EPAM Systems (NYSE:EPAM) last posted its earnings results on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share for the quarter, beating 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 the consensus estimate of $1.14 billion. During the same quarter last year, the firm earned $2.21 EPS. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. Equities analysts forecast that EPAM Systems, Inc. will post 8.06 earnings per share for the current year.

EPAM Systems announced that its board has initiated a share buyback 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 stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on EPAM shares. Piper Sandler reissued an “overweight” rating and issued a $225.00 price target on shares of EPAM Systems in a report on Wednesday, September 4th. 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. Susquehanna decreased their price target on shares of EPAM Systems from $260.00 to $240.00 and set a “positive” rating on the stock in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft started coverage on EPAM Systems in a research note on Thursday, August 22nd. They set a “hold” rating and a $204.00 price objective for the company. Finally, Jefferies Financial Group raised their target price on EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.