American Century Companies Inc. Grows Stake in EPAM Systems, Inc. (NYSE:EPAM)

American Century Companies Inc. raised its holdings in EPAM Systems, Inc. (NYSE:EPAM) by 7.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,982 shares of the information technology services provider’s stock after buying an additional 987 shares during the quarter. American Century Companies Inc.’s holdings in EPAM Systems were worth $2,630,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in EPAM. Riverview Trust Co purchased a new position in shares of EPAM Systems during the first quarter valued at about $29,000. ORG Partners LLC boosted its position in EPAM Systems by 5,000.0% during the 2nd quarter. ORG Partners LLC now owns 153 shares of the information technology services provider’s stock valued at $28,000 after acquiring an additional 150 shares in the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of EPAM Systems during the 2nd quarter worth approximately $29,000. Whittier Trust Co. purchased a new position in shares of EPAM Systems during the 1st quarter worth approximately $64,000. Finally, Mather Group LLC. bought a new position in shares of EPAM Systems in the 1st quarter worth approximately $87,000. 91.58% of the stock is owned by hedge funds and other institutional investors.

EPAM Systems Price Performance

EPAM opened at $199.46 on Friday. The company’s 50-day simple moving average is $202.17 and its two-hundred day simple moving average is $213.95. 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 stock has a market capitalization of $11.56 billion, a P/E ratio of 27.29, a P/E/G ratio of 4.36 and a beta of 1.45. EPAM Systems, Inc. has a 52-week low of $169.43 and a 52-week high of $317.50.

EPAM Systems (NYSE:EPAM) last issued its earnings results on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.19. The company 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 firm’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the company posted $2.21 earnings per share. As a group, analysts predict that EPAM Systems, Inc. will post 8.07 EPS for the current year.

EPAM Systems declared that its Board of Directors has authorized 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 buy up to 4.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Barclays lifted their price target 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. Piper Sandler restated an “overweight” rating and set a $225.00 target price on shares of EPAM Systems in a report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of EPAM Systems in a research note on Thursday, August 22nd. They issued a “hold” rating and a $204.00 price target for the company. Susquehanna dropped their price objective on shares of EPAM Systems from $260.00 to $240.00 and set a “positive” rating on the stock in a research note on Friday, August 9th. Finally, Jefferies Financial Group upped their price objective on shares of EPAM Systems from $237.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $258.32.

EPAM Systems 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.