Massachusetts Financial Services Co. MA Buys New Shares in EPAM Systems, Inc. (NYSE:EPAM)

Massachusetts Financial Services Co. MA acquired a new position in EPAM Systems, Inc. (NYSE:EPAM) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 56,163 shares of the information technology services provider’s stock, valued at approximately $10,565,000. Massachusetts Financial Services Co. MA owned 0.10% of EPAM Systems at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. ORG Partners LLC grew its stake in shares of EPAM Systems by 5,000.0% in the 2nd quarter. ORG Partners LLC now owns 153 shares of the information technology services provider’s stock valued at $28,000 after purchasing an additional 150 shares during the period. Riverview Trust Co acquired a new position in shares of EPAM Systems in the 1st quarter worth approximately $29,000. Opal Wealth Advisors LLC bought a new stake in EPAM Systems during the 2nd quarter worth approximately $29,000. Principal Securities Inc. acquired a new stake in EPAM Systems during the 4th quarter valued at $43,000. Finally, Whittier Trust Co. acquired a new position in EPAM Systems in the first quarter worth $64,000. Institutional investors and hedge funds own 91.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on EPAM. Susquehanna cut their price target on EPAM Systems from $260.00 to $240.00 and set a “positive” rating for the company in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft started coverage on shares of EPAM Systems in a research note on Thursday, August 22nd. They issued a “hold” rating and a $204.00 target price for the company. 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. JPMorgan Chase & Co. boosted their price objective 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. Finally, Piper Sandler reiterated an “overweight” rating and issued a $225.00 price objective on shares of EPAM Systems in a research report on Wednesday, September 4th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $258.32.

EPAM Systems Price Performance

EPAM opened at $197.00 on Friday. The company has a fifty day simple moving average of $203.20 and a 200 day simple moving average of $217.16. The company has a quick ratio of 4.84, a current ratio of 4.84 and a debt-to-equity ratio of 0.01. The stock has a market cap 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. EPAM Systems, Inc. has a 12 month low of $169.43 and a 12 month high of $317.50.

EPAM Systems (NYSE:EPAM) last released 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 company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the firm posted $2.21 earnings per share. EPAM Systems’s revenue was down 2.0% compared to the same quarter last year. On average, research analysts expect that EPAM Systems, Inc. will post 8.06 EPS for the current year.

EPAM Systems announced that its Board of Directors has approved a share repurchase program on Thursday, August 8th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes 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 leadership believes its stock is undervalued.

EPAM Systems 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.