DekaBank Deutsche Girozentrale Purchases 644 Shares of EPAM Systems, Inc. (NYSE:EPAM)

DekaBank Deutsche Girozentrale increased its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM) by 6.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,117 shares of the information technology services provider’s stock after acquiring an additional 644 shares during the period. DekaBank Deutsche Girozentrale’s holdings in EPAM Systems were worth $1,992,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Securities Inc. bought a new stake in shares of EPAM Systems during the fourth quarter worth $43,000. Dimensional Fund Advisors LP grew its holdings in EPAM Systems by 16.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 249,569 shares of the information technology services provider’s stock worth $74,210,000 after acquiring an additional 35,568 shares during the last quarter. Panagora Asset Management Inc. acquired a new stake in EPAM Systems in the 4th quarter valued at about $658,000. Brown Advisory Inc. raised its stake in shares of EPAM Systems by 290.3% in the fourth quarter. Brown Advisory Inc. now owns 3,275 shares of the information technology services provider’s stock worth $974,000 after acquiring an additional 2,436 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of EPAM Systems during the fourth quarter worth approximately $184,713,000. 91.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on EPAM shares. Itau BBA Securities upgraded shares of EPAM Systems from an “underperform” rating to a “market perform” rating in a research report on Friday, August 9th. StockNews.com upgraded EPAM Systems from a “hold” rating to a “buy” rating in a research report on Monday. The Goldman Sachs Group assumed coverage on EPAM Systems in a report on Monday, June 24th. They issued a “neutral” rating and a $200.00 price target on the stock. Barclays boosted their price objective on EPAM Systems from $200.00 to $225.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. raised their target price on shares of EPAM Systems from $222.00 to $262.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $258.32.

EPAM Systems Price Performance

Shares of EPAM stock opened at $197.94 on Thursday. The company has a quick ratio of 4.84, a current ratio of 4.84 and a debt-to-equity ratio of 0.01. EPAM Systems, Inc. has a 12-month low of $169.43 and a 12-month high of $317.50. The firm has a fifty day moving average of $202.63 and a 200-day moving average of $218.83. The firm has a market capitalization of $11.48 billion, a price-to-earnings ratio of 27.08, a price-to-earnings-growth 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.19. The firm had revenue of $1.15 billion during 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 revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.21 earnings per share. On average, equities research analysts forecast that EPAM Systems, Inc. will post 8.06 earnings per share for the current year.

EPAM Systems declared that its Board of Directors has authorized a share buyback plan on Thursday, August 8th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

About EPAM Systems

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.