Perpetual Ltd Invests $272,000 in EPAM Systems, Inc. (NYSE:EPAM)

Perpetual Ltd bought a new stake in shares of EPAM Systems, Inc. (NYSE:EPAM) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,369 shares of the information technology services provider’s stock, valued at approximately $272,000.

Other institutional investors also recently bought and sold shares of the company. Riverview Trust Co purchased a new stake in EPAM Systems during the 1st quarter valued at about $29,000. ORG Partners LLC lifted its holdings in EPAM Systems by 5,000.0% in the 2nd quarter. ORG Partners LLC now owns 153 shares of the information technology services provider’s stock worth $28,000 after buying an additional 150 shares during the period. Opal Wealth Advisors LLC purchased a new stake in EPAM Systems in the 2nd quarter worth approximately $29,000. Whittier Trust Co. purchased a new stake in EPAM Systems in the 1st quarter worth approximately $64,000. Finally, Mather Group LLC. purchased a new stake in EPAM Systems in the 1st quarter worth approximately $87,000. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

EPAM Systems Stock Performance

EPAM stock opened at $195.03 on Friday. The company has a market cap of $11.31 billion, a P/E ratio of 26.68, a price-to-earnings-growth ratio of 4.26 and a beta of 1.45. 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’s fifty day moving average price is $199.18 and its 200-day moving average price is $206.86. EPAM Systems, Inc. has a 1 year low of $169.43 and a 1 year high of $317.50.

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, beating the consensus estimate of $2.26 by $0.19. The company had revenue of $1.15 billion for 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 period in the previous year, the business earned $2.21 earnings per share. On average, equities analysts forecast 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 buyback plan on Thursday, August 8th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to repurchase up to 4.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. StockNews.com upgraded EPAM Systems from a “hold” rating to a “buy” rating in a report on Saturday. Itau BBA Securities upgraded EPAM Systems from an “underperform” rating to a “market perform” rating in a report on Friday, August 9th. Barclays increased their target price on EPAM Systems from $200.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. increased their target price on 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 reissued an “overweight” rating and issued a $225.00 target price on shares of EPAM Systems in a research report on Tuesday, October 8th. 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 stock has a consensus rating of “Moderate Buy” and a consensus price target of $258.32.

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.