EPAM Systems, Inc. (NYSE:EPAM) Shares Sold by Goelzer Investment Management Inc.

Goelzer Investment Management Inc. reduced its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 10.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,167 shares of the information technology services provider’s stock after selling 134 shares during the period. Goelzer Investment Management Inc.’s holdings in EPAM Systems were worth $232,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on EPAM shares. The Goldman Sachs Group assumed coverage on EPAM Systems in a research report on Monday, June 24th. They issued a “neutral” rating and a $200.00 price target for the company. Piper Sandler reaffirmed an “overweight” rating and set a $225.00 target price on shares of EPAM Systems in a research report on Wednesday, September 4th. JPMorgan Chase & Co. increased their price target on shares of EPAM Systems from $222.00 to $262.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Itau BBA Securities raised EPAM Systems from an “underperform” rating to a “market perform” rating in a report on Friday, August 9th. Finally, StockNews.com downgraded shares of EPAM Systems from a “buy” rating to a “hold” rating in a report on Friday. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $258.32.

EPAM Systems Stock Up 1.3 %

Shares of NYSE EPAM opened at $198.35 on Friday. 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 company has a 50-day moving average price of $201.03 and a 200-day moving average price of $209.74. The stock has a market capitalization of $11.50 billion, a P/E ratio of 27.13, a P/E/G ratio of 4.36 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.

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 the consensus estimate of $2.26 by $0.19. EPAM Systems had a return on equity of 14.31% and a net margin of 8.86%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter last year, the firm posted $2.21 EPS. The company’s revenue was down 2.0% compared to the same quarter last year. On average, 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 initiated a stock buyback program on Thursday, August 8th that permits the company to repurchase $500.00 million in 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 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.