Quarry LP Purchases 624 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Quarry LP boosted its position in EPAM Systems, Inc. (NYSE:EPAM) by 203.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 931 shares of the information technology services provider’s stock after buying an additional 624 shares during the quarter. Quarry LP’s holdings in EPAM Systems were worth $175,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Riverview Trust Co purchased a new stake in shares of EPAM Systems in the 1st quarter valued at $29,000. ORG Partners LLC grew its stake in shares of EPAM Systems by 5,000.0% during 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 during the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of EPAM Systems in the second quarter worth about $29,000. Whittier Trust Co. bought a new stake in shares of EPAM Systems in the 1st quarter valued at about $64,000. Finally, Mather Group LLC. purchased a new stake in EPAM Systems during the 1st quarter valued at about $87,000. 91.58% of the stock is currently owned by institutional investors.

EPAM Systems Price Performance

EPAM stock opened at $199.03 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.84 and a current ratio of 4.84. The firm has a 50 day moving average price of $201.91 and a 200-day moving average price of $211.93. EPAM Systems, Inc. has a 52-week low of $169.43 and a 52-week high of $317.50. The firm has a market capitalization of $11.54 billion, a price-to-earnings ratio of 27.23, a PEG ratio of 4.36 and a beta of 1.45.

EPAM Systems (NYSE:EPAM) last announced its quarterly earnings data on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the business earned $2.21 earnings per share. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. Equities research analysts forecast that EPAM Systems, Inc. will post 8.07 EPS for the current fiscal year.

EPAM Systems announced that its board has authorized a share repurchase plan on Thursday, August 8th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the information technology services provider to purchase up to 4.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on EPAM shares. Barclays boosted their price objective on EPAM Systems from $200.00 to $225.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group started coverage on shares of EPAM Systems in a research report on Monday, June 24th. They set a “neutral” rating and a $200.00 price target for the company. Itau BBA Securities upgraded shares of EPAM Systems from an “underperform” rating to a “market perform” rating in a research report on Friday, August 9th. StockNews.com lowered shares of EPAM Systems from a “buy” rating to a “hold” rating in a report on Wednesday, September 25th. Finally, Susquehanna reduced their price target on EPAM Systems from $260.00 to $240.00 and set a “positive” rating on the stock in a report on Friday, August 9th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average 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.