Public Sector Pension Investment Board Acquires 962 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Public Sector Pension Investment Board raised its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM) by 76.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,226 shares of the information technology services provider’s stock after purchasing an additional 962 shares during the quarter. Public Sector Pension Investment Board’s holdings in EPAM Systems were worth $419,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Epoch Investment Partners Inc. boosted its holdings in shares of EPAM Systems by 97.7% during the 2nd quarter. Epoch Investment Partners Inc. now owns 338,667 shares of the information technology services provider’s stock worth $63,707,000 after buying an additional 167,343 shares during the period. ProShare Advisors LLC grew its position in shares of EPAM Systems by 9.3% in the second quarter. ProShare Advisors LLC now owns 11,542 shares of the information technology services provider’s stock valued at $2,171,000 after purchasing an additional 979 shares during the last quarter. Profund Advisors LLC lifted its holdings in EPAM Systems by 7.1% during the 2nd quarter. Profund Advisors LLC now owns 1,194 shares of the information technology services provider’s stock worth $225,000 after purchasing an additional 79 shares during the last quarter. Sompo Asset Management Co. Ltd. boosted its stake in EPAM Systems by 46.4% in the 2nd quarter. Sompo Asset Management Co. Ltd. now owns 4,420 shares of the information technology services provider’s stock valued at $831,000 after purchasing an additional 1,400 shares during the period. Finally, Transatlantique Private Wealth LLC grew its holdings in EPAM Systems by 49.8% in the 2nd quarter. Transatlantique Private Wealth LLC now owns 5,291 shares of the information technology services provider’s stock valued at $984,000 after buying an additional 1,758 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on EPAM. StockNews.com cut shares of EPAM Systems from a “buy” rating to a “hold” rating in a research report on Friday. Jefferies Financial Group increased their target price on shares of EPAM Systems from $237.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Itau BBA Securities upgraded EPAM Systems from an “underperform” rating to a “market perform” rating in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft assumed coverage on EPAM Systems in a research note on Thursday, August 22nd. They set a “hold” rating and a $204.00 price objective on the stock. Finally, The Goldman Sachs Group initiated coverage on EPAM Systems in a research report on Monday, June 24th. They set a “neutral” rating and a $200.00 target price for the company. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $258.32.

EPAM Systems Trading Down 0.1 %

Shares of EPAM stock opened at $195.72 on Friday. The company has a quick ratio of 4.84, a current ratio of 4.84 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $11.35 billion, a P/E ratio of 26.77, a P/E/G ratio of 4.36 and a beta of 1.45. EPAM Systems, Inc. has a twelve month low of $169.43 and a twelve month high of $317.50. The stock’s fifty day simple moving average is $201.51 and its 200 day simple moving average is $211.10.

EPAM Systems (NYSE:EPAM) last announced its earnings results on Thursday, August 8th. The information technology services provider reported $2.45 EPS for the quarter, beating the consensus estimate of $2.26 by $0.19. EPAM Systems had a return on equity of 14.31% and a net margin of 8.86%. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the prior year, the business posted $2.21 earnings per share. The firm’s revenue was down 2.0% on a year-over-year basis. As a group, sell-side analysts predict that EPAM Systems, Inc. will post 8.07 EPS for the current fiscal year.

EPAM Systems announced that its board has approved a stock repurchase program on Thursday, August 8th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the information technology services provider to reacquire up to 4.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is 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.