EPAM Systems, Inc. (NYSE:EPAM) Shares Purchased by Creative Planning

Creative Planning raised its position in EPAM Systems, Inc. (NYSE:EPAM) by 100.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,178 shares of the information technology services provider’s stock after purchasing an additional 3,604 shares during the period. Creative Planning’s holdings in EPAM Systems were worth $1,429,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Duality Advisers LP boosted its position in EPAM Systems by 60.7% during the first quarter. Duality Advisers LP now owns 10,754 shares of the information technology services provider’s stock worth $2,970,000 after acquiring an additional 4,061 shares during the last quarter. Diversified Trust Co purchased a new position in shares of EPAM Systems during the 2nd quarter worth $734,000. Vanguard Group Inc. boosted its holdings in shares of EPAM Systems by 0.6% during the first quarter. Vanguard Group Inc. now owns 6,865,123 shares of the information technology services provider’s stock worth $1,895,872,000 after purchasing an additional 39,531 shares during the last quarter. MBB Public Markets I LLC purchased a new stake in shares of EPAM Systems in the second quarter valued at $631,000. Finally, Russell Investments Group Ltd. increased its stake in EPAM Systems by 62.6% in the first quarter. Russell Investments Group Ltd. now owns 46,381 shares of the information technology services provider’s stock valued at $12,809,000 after purchasing an additional 17,848 shares during the last quarter. 91.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on the company. Piper Sandler restated an “overweight” rating and issued a $225.00 price target on shares of EPAM Systems in a report on Tuesday, October 8th. Jefferies Financial Group boosted their target price on shares of EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 9th. StockNews.com raised shares of EPAM Systems from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. Deutsche Bank Aktiengesellschaft started coverage on shares of EPAM Systems in a report on Thursday, August 22nd. They issued a “hold” rating and a $204.00 price target on the stock. Finally, Susquehanna dropped their price objective on EPAM Systems from $260.00 to $240.00 and set a “positive” rating for the company in a report on Friday, August 9th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, EPAM Systems currently has a consensus rating of “Moderate Buy” and an average target price of $254.89.

EPAM Systems Stock Performance

EPAM Systems stock opened at $193.83 on Wednesday. The firm has a market capitalization of $11.24 billion, a PE ratio of 26.52, a price-to-earnings-growth ratio of 4.35 and a beta of 1.45. EPAM Systems, Inc. has a one year low of $169.43 and a one year high of $317.50. The stock’s 50 day moving average price is $198.45 and its 200 day moving average price is $200.21. 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 posted its earnings results on Thursday, August 8th. The information technology services provider reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.19. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations 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 previous year, the company posted $2.21 earnings per share. As a group, sell-side analysts expect that EPAM Systems, Inc. will post 8.08 EPS for the current fiscal year.

EPAM Systems declared that its board has approved a stock buyback program on Thursday, August 8th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

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.