EPAM Systems, Inc. (NYSE:EPAM) Shares Sold by Point72 Asset Management L.P.

Point72 Asset Management L.P. reduced its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM) by 61.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,358 shares of the information technology services provider’s stock after selling 126,983 shares during the quarter. Point72 Asset Management L.P. owned 0.14% of EPAM Systems worth $14,928,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Pacer Advisors Inc. increased its holdings in EPAM Systems by 14,325.2% in the 2nd quarter. Pacer Advisors Inc. now owns 657,070 shares of the information technology services provider’s stock valued at $123,601,000 after purchasing an additional 652,515 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of EPAM Systems in the second quarter valued at about $84,850,000. Price T Rowe Associates Inc. MD lifted its position in EPAM Systems by 372.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 476,311 shares of the information technology services provider’s stock worth $141,627,000 after acquiring an additional 375,439 shares in the last quarter. TD Asset Management Inc lifted its position in EPAM Systems by 80.0% during the 2nd quarter. TD Asset Management Inc now owns 595,486 shares of the information technology services provider’s stock worth $112,017,000 after acquiring an additional 264,570 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in EPAM Systems by 47,294.2% in the 2nd quarter. Acadian Asset Management LLC now owns 189,103 shares of the information technology services provider’s stock worth $35,560,000 after acquiring an additional 188,704 shares during the period. Institutional investors and hedge funds own 91.58% of the company’s stock.

EPAM Systems Price Performance

Shares of EPAM opened at $199.03 on Tuesday. The firm has a market capitalization of $11.54 billion, a price-to-earnings ratio of 27.23, a price-to-earnings-growth ratio of 4.36 and a beta of 1.45. The stock’s fifty day moving average is $201.91 and its 200-day moving average is $211.93. EPAM Systems, Inc. has a one year low of $169.43 and a one 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 issued its quarterly earnings results on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.19. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. EPAM Systems had a net margin of 8.86% and a return on equity of 14.31%. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.21 EPS. Equities analysts anticipate that EPAM Systems, Inc. will post 8.07 EPS for the current year.

EPAM Systems declared that its Board of Directors has initiated a stock repurchase plan on Thursday, August 8th that permits the company to buyback $500.00 million in outstanding 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.

Analysts Set New Price Targets

EPAM has been the subject of a number of recent analyst reports. The Goldman Sachs Group assumed coverage on shares of EPAM Systems in a report on Monday, June 24th. They set a “neutral” rating and a $200.00 price target for the company. JPMorgan Chase & Co. lifted their target price on EPAM Systems from $222.00 to $262.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Jefferies Financial Group increased their price target on EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 9th. StockNews.com lowered EPAM Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, September 25th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of EPAM Systems in a research report on Thursday, August 22nd. They set a “hold” rating and a $204.00 price target for the company. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price 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.