EPAM Systems, Inc. (NYSE:EPAM) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its stake in EPAM Systems, Inc. (NYSE:EPAM) by 15.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 121,151 shares of the information technology services provider’s stock after selling 22,052 shares during the period. Envestnet Asset Management Inc. owned approximately 0.21% of EPAM Systems worth $22,790,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. ORG Partners LLC increased its holdings in shares of EPAM Systems by 5,000.0% in the second quarter. ORG Partners LLC now owns 153 shares of the information technology services provider’s stock valued at $28,000 after buying an additional 150 shares in the last quarter. Riverview Trust Co bought a new position in shares of EPAM Systems in the first quarter valued at $29,000. Opal Wealth Advisors LLC bought a new position in shares of EPAM Systems in the second quarter valued at $29,000. Principal Securities Inc. bought a new position in shares of EPAM Systems in the fourth quarter valued at $43,000. Finally, Whittier Trust Co. bought a new position in shares of EPAM Systems in the first quarter valued at $64,000. Institutional investors own 91.58% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on EPAM shares. JPMorgan Chase & Co. upped their price target on EPAM Systems from $222.00 to $262.00 and gave the company an “overweight” rating in a report on Friday, September 6th. StockNews.com upgraded EPAM Systems from a “hold” rating to a “buy” rating in a report on Monday, September 16th. Itau BBA Securities upgraded EPAM Systems from an “underperform” rating to a “market perform” rating in a report on Friday, August 9th. Piper Sandler restated an “overweight” rating and issued a $225.00 target price on shares of EPAM Systems in a report on Wednesday, September 4th. Finally, Jefferies Financial Group increased their target price on EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 9th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, EPAM Systems currently has an average rating of “Moderate Buy” and an average target price of $258.32.

EPAM Systems Trading Down 0.5 %

EPAM Systems stock opened at $197.00 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.84 and a quick ratio of 4.84. The company has a market capitalization of $11.42 billion, a price-to-earnings ratio of 26.95, a PEG ratio of 4.48 and a beta of 1.45. EPAM Systems, Inc. has a one year low of $169.43 and a one year high of $317.50. The company’s fifty day moving average price is $203.20 and its two-hundred day moving average price is $216.50.

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

EPAM Systems announced that its Board of Directors has initiated a stock buyback plan on Thursday, August 8th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to purchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

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.