EPAM Systems, Inc. (NYSE:EPAM) Shares Purchased by abrdn plc

abrdn plc raised its stake in EPAM Systems, Inc. (NYSE:EPAM) by 42.7% in the third quarter, HoldingsChannel.com reports. The fund owned 29,203 shares of the information technology services provider’s stock after buying an additional 8,739 shares during the quarter. abrdn plc’s holdings in EPAM Systems were worth $5,791,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Duality Advisers LP increased its holdings in shares of EPAM Systems by 60.7% in the 1st 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 period. Diversified Trust Co bought a new position in EPAM Systems in the 2nd quarter worth about $734,000. Raymond James & Associates increased its stake in shares of EPAM Systems by 1,741.1% in the third quarter. Raymond James & Associates now owns 36,694 shares of the information technology services provider’s stock valued at $7,303,000 after purchasing an additional 34,701 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of EPAM Systems by 251.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 19,128 shares of the information technology services provider’s stock valued at $3,807,000 after buying an additional 13,690 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position 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 buying an additional 39,531 shares during the period. 91.58% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on EPAM. Susquehanna lowered their target price on EPAM Systems from $260.00 to $240.00 and set a “positive” rating on the stock in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of EPAM Systems in a research note on Thursday, August 22nd. They set a “hold” rating and a $204.00 price objective on the stock. Citigroup increased their target price on shares of EPAM Systems from $207.00 to $210.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. boosted their price target on shares of EPAM Systems from $222.00 to $262.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $225.00 price objective on shares of EPAM Systems in a report on Tuesday, October 8th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $254.89.

EPAM Systems Stock Performance

Shares of EPAM opened at $189.22 on Monday. EPAM Systems, Inc. has a one year low of $169.43 and a one year high of $317.50. The company has a 50-day moving average of $197.86 and a two-hundred day moving average of $199.24. 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 stock has a market cap of $10.77 billion, a price-to-earnings ratio of 27.11, a PEG ratio of 4.14 and a beta of 1.46.

EPAM Systems (NYSE:EPAM) last posted its quarterly earnings data 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. EPAM Systems had a net margin of 8.86% and a return on equity of 14.31%. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the business posted $2.21 EPS. The company’s revenue was down 2.0% on a year-over-year basis. On average, equities research analysts expect that EPAM Systems, Inc. will post 8.08 earnings per share for the current year.

EPAM Systems declared that its board has authorized a stock repurchase plan on Thursday, August 8th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the information technology services provider to purchase up to 4.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are 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.