Epoch Investment Partners Inc. Grows Stock Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Epoch Investment Partners Inc. raised its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM) by 97.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 338,667 shares of the information technology services provider’s stock after purchasing an additional 167,343 shares during the quarter. Epoch Investment Partners Inc. owned 0.58% of EPAM Systems worth $63,707,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in EPAM. ProShare Advisors LLC boosted its holdings in shares of EPAM Systems by 9.3% in the 2nd quarter. ProShare Advisors LLC now owns 11,542 shares of the information technology services provider’s stock worth $2,171,000 after purchasing an additional 979 shares during the period. Profund Advisors LLC lifted its position in EPAM Systems by 7.1% in the second quarter. Profund Advisors LLC now owns 1,194 shares of the information technology services provider’s stock worth $225,000 after buying an additional 79 shares during the last quarter. Sompo Asset Management Co. Ltd. boosted its stake in EPAM Systems by 46.4% during the second quarter. Sompo Asset Management Co. Ltd. now owns 4,420 shares of the information technology services provider’s stock worth $831,000 after buying an additional 1,400 shares during the period. Transatlantique Private Wealth LLC increased its position in EPAM Systems by 49.8% during the second quarter. Transatlantique Private Wealth LLC now owns 5,291 shares of the information technology services provider’s stock valued at $984,000 after acquiring an additional 1,758 shares during the last quarter. Finally, Summit Trail Advisors LLC raised its stake in shares of EPAM Systems by 12.5% in the second quarter. Summit Trail Advisors LLC now owns 1,222 shares of the information technology services provider’s stock valued at $230,000 after acquiring an additional 136 shares during the period. 91.58% of the stock is owned by hedge funds and other institutional investors.

EPAM Systems Stock Performance

Shares of EPAM stock opened at $197.00 on Monday. The firm has a market cap 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 52-week low of $169.43 and a 52-week high of $317.50. 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 company’s 50 day moving average is $203.20 and its 200 day moving average is $216.50.

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

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on EPAM. Piper Sandler reaffirmed an “overweight” rating and set a $225.00 price target on shares of EPAM Systems in a research note on Wednesday, September 4th. Itau BBA Securities upgraded EPAM Systems from an “underperform” rating to a “market perform” rating in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft assumed coverage on EPAM Systems in a report on Thursday, August 22nd. They issued a “hold” rating and a $204.00 price target on the stock. Jefferies Financial Group boosted their price objective on EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 9th. Finally, Susquehanna reduced their target price on EPAM Systems from $260.00 to $240.00 and set a “positive” rating on the stock in a research note on Friday, August 9th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average 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.