Toronto Dominion Bank Has $5.86 Million Stock Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Toronto Dominion Bank reduced its stake in EPAM Systems, Inc. (NYSE:EPAM) by 12.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,144 shares of the information technology services provider’s stock after selling 4,511 shares during the period. Toronto Dominion Bank’s holdings in EPAM Systems were worth $5,858,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. D.A. Davidson & CO. acquired a new position in EPAM Systems in the 4th quarter valued at about $210,000. Corient Private Wealth LLC lifted its holdings in EPAM Systems by 62.8% during the 4th quarter. Corient Private Wealth LLC now owns 3,462 shares of the information technology services provider’s stock worth $1,029,000 after purchasing an additional 1,336 shares during the last quarter. US Bancorp DE lifted its holdings in EPAM Systems by 144.5% during the 4th quarter. US Bancorp DE now owns 7,076 shares of the information technology services provider’s stock worth $2,104,000 after purchasing an additional 4,182 shares during the last quarter. Intech Investment Management LLC acquired a new position in EPAM Systems in the 4th quarter valued at $285,000. Finally, Allianz Asset Management GmbH increased its position in EPAM Systems by 12.7% during the 4th quarter. Allianz Asset Management GmbH now owns 60,126 shares of the information technology services provider’s stock worth $17,878,000 after buying an additional 6,798 shares during the period. 91.58% of the stock is owned by institutional investors.

EPAM Systems Price Performance

EPAM stock opened at $199.46 on Friday. The firm has a 50 day simple moving average of $202.17 and a two-hundred day simple moving average of $213.29. The stock has a market cap of $11.56 billion, a PE ratio of 27.29, a P/E/G ratio of 4.36 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 company has a debt-to-equity ratio of 0.01, a current ratio of 4.84 and a quick ratio of 4.84.

EPAM Systems (NYSE:EPAM) last released its 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 the consensus estimate of $1.14 billion. EPAM Systems had a return on equity of 14.31% and a net margin of 8.86%. EPAM Systems’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.21 EPS. On average, analysts predict 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 allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to purchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

EPAM has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft started 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 on the stock. Piper Sandler reissued an “overweight” rating and set a $225.00 price target 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 report on Friday, August 9th. The Goldman Sachs Group initiated coverage on EPAM Systems in a report on Monday, June 24th. They set a “neutral” rating and a $200.00 target price on the stock. Finally, Barclays boosted their price target on EPAM Systems from $200.00 to $225.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus 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.