Point72 DIFC Ltd Cuts Stock Position in EPAM Systems, Inc. (NYSE:EPAM)

Point72 DIFC Ltd trimmed its holdings in EPAM Systems, Inc. (NYSE:EPAM) by 3.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,248 shares of the information technology services provider’s stock after selling 695 shares during the quarter. Point72 DIFC Ltd’s holdings in EPAM Systems were worth $3,433,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. The Goldman Sachs Group initiated coverage on EPAM Systems in a research note on Monday, June 24th. They issued a “neutral” rating and a $200.00 price objective for the company. Deutsche Bank Aktiengesellschaft started coverage on shares of EPAM Systems in a research note on Thursday, August 22nd. They set a “hold” rating and a $204.00 price target for the company. Susquehanna reduced their price objective on shares of EPAM Systems from $260.00 to $240.00 and set a “positive” rating on the stock in a research report on Friday, August 9th. Jefferies Financial Group boosted 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. Finally, JPMorgan Chase & Co. increased their price target on EPAM Systems from $222.00 to $262.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $258.32.

EPAM Systems Price Performance

Shares of EPAM stock opened at $198.45 on Tuesday. The company has a market cap of $11.50 billion, a P/E ratio of 27.15, a PEG ratio of 4.48 and a beta of 1.45. 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 stock’s 50-day moving average is $203.18 and its 200 day moving average is $215.68. EPAM Systems, Inc. has a 1-year low of $169.43 and a 1-year high of $317.50.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings data on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.21 EPS. Research analysts predict that EPAM Systems, Inc. will post 8.06 earnings per share for the current fiscal year.

EPAM Systems declared that its Board of Directors has initiated a share buyback plan 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 buy up to 4.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management 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.