Amalgamated Bank Increases Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Amalgamated Bank boosted its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 37.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,056 shares of the information technology services provider’s stock after purchasing an additional 4,647 shares during the quarter. Amalgamated Bank’s holdings in EPAM Systems were worth $3,208,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Riverview Trust Co bought a new stake in shares of EPAM Systems in the 1st quarter valued at about $29,000. ORG Partners LLC grew its stake in 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 purchasing an additional 150 shares during the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of EPAM Systems during the second quarter valued at about $29,000. Whittier Trust Co. purchased a new position in shares of EPAM Systems in the 1st quarter worth approximately $64,000. Finally, Mather Group LLC. purchased a new stake in EPAM Systems during the first quarter valued at approximately $87,000. 91.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on EPAM shares. The Goldman Sachs Group started coverage on EPAM Systems in a research report on Monday, June 24th. They set a “neutral” rating and a $200.00 target price on the stock. Piper Sandler reissued an “overweight” rating and set a $225.00 target price on shares of EPAM Systems in a research report on Wednesday, September 4th. Jefferies Financial Group raised their price target on shares of EPAM Systems from $237.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Susquehanna dropped their price objective on shares of EPAM Systems from $260.00 to $240.00 and set a “positive” rating on the stock in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. raised their target price on EPAM Systems from $222.00 to $262.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $258.32.

EPAM Systems Stock Performance

Shares of NYSE EPAM opened at $198.45 on Tuesday. The company’s fifty day moving average price is $203.18 and its 200 day moving average price is $215.68. The company has a market capitalization of $11.50 billion, a PE ratio of 27.15, a price-to-earnings-growth ratio of 4.48 and a beta of 1.45. EPAM Systems, Inc. has a 1 year low of $169.43 and a 1 year high of $317.50. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.84 and a current ratio of 4.84.

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

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

About EPAM Systems

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.