Bristlecone Advisors LLC Boosts Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Bristlecone Advisors LLC lifted its stake in shares of EPAM Systems, Inc. (NYSE:EPAM) by 6.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,557 shares of the information technology services provider’s stock after acquiring an additional 223 shares during the period. Bristlecone Advisors LLC’s holdings in EPAM Systems were worth $708,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in 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 purchasing an additional 39,531 shares during the period. Pacer Advisors Inc. boosted its holdings in EPAM Systems by 14,325.2% in the second quarter. Pacer Advisors Inc. now owns 657,070 shares of the information technology services provider’s stock valued at $123,601,000 after acquiring an additional 652,515 shares during the last quarter. TD Asset Management Inc boosted its holdings in EPAM Systems by 80.0% in the second quarter. TD Asset Management Inc now owns 595,486 shares of the information technology services provider’s stock valued at $112,017,000 after acquiring an additional 264,570 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in EPAM Systems by 22.6% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 512,353 shares of the information technology services provider’s stock valued at $139,516,000 after acquiring an additional 94,544 shares during the period. Finally, Manning & Napier Advisors LLC purchased a new position in shares of EPAM Systems in the 2nd quarter worth about $84,850,000. 91.58% of the stock is owned by institutional investors and hedge funds.

EPAM Systems Stock Performance

Shares of EPAM stock opened at $191.52 on Monday. The stock has a market capitalization of $11.10 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 4.35 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’s 50-day simple moving average is $198.79 and its 200-day simple moving average is $201.20. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.84 and a current ratio of 4.84.

EPAM Systems (NYSE:EPAM) last issued its earnings results on Thursday, August 8th. The information technology services provider reported $2.45 EPS for the quarter, topping the consensus estimate of $2.26 by $0.19. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. EPAM Systems had a return on equity of 14.31% and a net margin of 8.86%. The business’s revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.21 EPS. Equities analysts anticipate that EPAM Systems, Inc. will post 8.08 earnings per share for the current fiscal year.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on EPAM. StockNews.com upgraded EPAM Systems from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Piper Sandler reissued an “overweight” rating and issued a $225.00 price objective on shares of EPAM Systems in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of EPAM Systems in a report on Thursday, August 22nd. They set a “hold” rating and a $204.00 target price on the stock. JPMorgan Chase & Co. increased their price target on EPAM Systems from $222.00 to $262.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Finally, Itau BBA Securities upgraded EPAM Systems from an “underperform” rating to a “market perform” rating in a research note on Friday, August 9th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, EPAM Systems currently has an average rating of “Moderate Buy” and an average price target 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.