Commonwealth Equity Services LLC Lowers Stake in EPAM Systems, Inc. (NYSE:EPAM)

Commonwealth Equity Services LLC cut its stake in EPAM Systems, Inc. (NYSE:EPAM) by 4.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,390 shares of the information technology services provider’s stock after selling 159 shares during the quarter. Commonwealth Equity Services LLC’s holdings in EPAM Systems were worth $638,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. ORG Partners LLC increased its position 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 worth $28,000 after purchasing an additional 150 shares in the last quarter. Riverview Trust Co acquired a new position in EPAM Systems during the 1st quarter valued at about $29,000. Opal Wealth Advisors LLC purchased a new stake in EPAM Systems in the second quarter valued at about $29,000. Principal Securities Inc. acquired a new stake in EPAM Systems in the fourth quarter worth about $43,000. Finally, Whittier Trust Co. purchased a new stake in shares of EPAM Systems during the first quarter worth about $64,000. 91.58% of the stock is owned by institutional investors.

EPAM Systems Stock Up 0.1 %

EPAM stock opened at $198.15 on Friday. 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. The firm’s fifty day moving average is $202.95 and its 200 day moving average is $218.69. The firm has a market cap of $11.49 billion, a PE ratio of 27.11, a P/E/G ratio of 4.48 and a beta of 1.45.

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, beating analysts’ consensus estimates of $2.26 by $0.19. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. EPAM Systems had a return on equity of 14.31% and a net margin of 8.86%. The company’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the firm earned $2.21 EPS. On average, research analysts forecast that EPAM Systems, Inc. will post 8.06 EPS for the current year.

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

Analyst Ratings Changes

A number of research firms recently commented on EPAM. The Goldman Sachs Group initiated coverage on shares of EPAM Systems in a research note on Monday, June 24th. They issued a “neutral” rating and a $200.00 target price for the company. Barclays lifted their price objective on shares of EPAM Systems from $200.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Piper Sandler reissued an “overweight” rating and issued a $225.00 target price on shares of EPAM Systems in a research report on Wednesday, September 4th. Itau BBA Securities raised EPAM Systems from an “underperform” rating to a “market perform” rating in a research report on Friday, August 9th. Finally, Redburn Atlantic initiated coverage on EPAM Systems in a report on Friday, May 24th. They issued a “neutral” rating and a $195.00 price objective on the stock. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” 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.