EPAM Systems, Inc. (NYSE:EPAM) Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp lifted its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM) by 11.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,540 shares of the information technology services provider’s stock after purchasing an additional 946 shares during the quarter. Van ECK Associates Corp’s holdings in EPAM Systems were worth $1,843,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Raymond James & Associates increased its holdings in shares of EPAM Systems by 1,741.1% during the 3rd quarter. Raymond James & Associates now owns 36,694 shares of the information technology services provider’s stock worth $7,303,000 after buying an additional 34,701 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of EPAM Systems by 251.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 19,128 shares of the information technology services provider’s stock valued at $3,807,000 after purchasing an additional 13,690 shares in the last quarter. Diversified Trust Co purchased a new stake in shares of EPAM Systems during the 2nd quarter worth about $734,000. Vanguard Group Inc. increased its position in EPAM Systems by 0.6% during the 1st 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 in the last quarter. Finally, MBB Public Markets I LLC purchased a new position in EPAM Systems in the second quarter valued at approximately $631,000. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on EPAM shares. StockNews.com lowered shares of EPAM Systems from a “buy” rating to a “hold” rating in a report on Thursday. Needham & Company LLC boosted their target price on shares of EPAM Systems from $215.00 to $265.00 and gave the stock a “buy” rating in a research report on Friday. Jefferies Financial Group raised their price target on shares of EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 9th. Susquehanna upped their price objective on shares of EPAM Systems from $240.00 to $270.00 and gave the company a “positive” rating in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft began coverage on EPAM Systems in a research report on Thursday, August 22nd. They set a “hold” rating and a $204.00 target price on the stock. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $261.50.

EPAM Systems Stock Performance

EPAM opened at $233.45 on Monday. The stock has a 50-day moving average of $198.94 and a 200-day moving average of $197.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.84 and a current ratio of 4.84. The company has a market cap of $13.29 billion, a PE ratio of 33.45, a price-to-earnings-growth ratio of 4.45 and a beta of 1.46. EPAM Systems, Inc. has a 52-week low of $169.43 and a 52-week high of $317.50.

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

EPAM Systems announced that its Board of Directors has initiated a share repurchase 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 buy up to 4.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership 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.