Diversify Advisory Services LLC Invests $254,000 in EPAM Systems, Inc. (NYSE:EPAM)

Diversify Advisory Services LLC purchased a new stake in EPAM Systems, Inc. (NYSE:EPAM) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,285 shares of the information technology services provider’s stock, valued at approximately $254,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. abrdn plc raised its position in EPAM Systems by 42.7% during the 3rd quarter. abrdn plc now owns 29,203 shares of the information technology services provider’s stock worth $5,791,000 after buying an additional 8,739 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of EPAM Systems by 115.7% during the third quarter. Nisa Investment Advisors LLC now owns 1,083 shares of the information technology services provider’s stock worth $216,000 after acquiring an additional 581 shares during the period. Baker Tilly Wealth Management LLC purchased a new position in EPAM Systems during the third quarter worth about $278,000. Bristlecone Advisors LLC lifted its position in EPAM Systems by 6.7% in the third quarter. Bristlecone Advisors LLC now owns 3,557 shares of the information technology services provider’s stock valued at $708,000 after purchasing an additional 223 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in EPAM Systems by 143.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,306 shares of the information technology services provider’s stock valued at $857,000 after purchasing an additional 2,540 shares in the last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on EPAM shares. Itau BBA Securities raised EPAM Systems from an “underperform” rating to a “market perform” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. raised their target price on EPAM Systems from $222.00 to $262.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Deutsche Bank Aktiengesellschaft started coverage on shares of EPAM Systems in a research report on Thursday, August 22nd. They set a “hold” rating and a $204.00 target price on the stock. Citigroup increased their price target on shares of EPAM Systems from $207.00 to $210.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Finally, StockNews.com raised shares of EPAM Systems from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $254.89.

EPAM Systems Trading Up 0.3 %

EPAM Systems stock opened at $189.13 on Friday. EPAM Systems, Inc. has a one year low of $169.43 and a one year high of $317.50. The company’s fifty day moving average price is $198.06 and its two-hundred day moving average price is $200.05. 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 company has a market capitalization of $10.77 billion, a price-to-earnings ratio of 27.10, a PEG ratio of 4.15 and a beta of 1.45.

EPAM Systems (NYSE:EPAM) last released its quarterly 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. EPAM Systems had a net margin of 8.86% and a return on equity of 14.31%. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the prior year, the company earned $2.21 earnings per share. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, analysts forecast that EPAM Systems, Inc. will post 8.08 earnings per share for the current fiscal year.

EPAM Systems announced that its board has authorized a stock buyback program on Thursday, August 8th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the information technology services provider to reacquire up to 4.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management 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.