Texas Permanent School Fund Reduces Position in EPAM Systems, Inc. (NYSE:EPAM)

Texas Permanent School Fund lessened its stake in shares of EPAM Systems, Inc. (NYSE:EPAM – Get Rating) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,021 shares of the information technology services provider’s stock after selling 96 shares during the quarter. Texas Permanent School Fund’s holdings in EPAM Systems were worth $2,629,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of EPAM Systems by 1.0% during the third quarter. Vanguard Group Inc. now owns 6,358,658 shares of the information technology services provider’s stock valued at $2,303,042,000 after purchasing an additional 60,794 shares during the period. Alliancebernstein L.P. raised its holdings in shares of EPAM Systems by 4.0% during the third quarter. Alliancebernstein L.P. now owns 2,810,173 shares of the information technology services provider’s stock valued at $1,017,817,000 after acquiring an additional 107,002 shares in the last quarter. State Street Corp raised its holdings in shares of EPAM Systems by 9.1% during the first quarter. State Street Corp now owns 2,471,924 shares of the information technology services provider’s stock valued at $733,197,000 after acquiring an additional 206,636 shares in the last quarter. Capital World Investors raised its holdings in shares of EPAM Systems by 2.2% during the first quarter. Capital World Investors now owns 1,764,856 shares of the information technology services provider’s stock valued at $523,474,000 after acquiring an additional 38,642 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of EPAM Systems by 4.1% during the first quarter. Invesco Ltd. now owns 1,299,265 shares of the information technology services provider’s stock valued at $385,376,000 after acquiring an additional 50,627 shares in the last quarter. Hedge funds and other institutional investors own 92.29% of the company’s stock.

EPAM Systems Price Performance

Shares of NYSE:EPAM opened at $231.34 on Wednesday. EPAM Systems, Inc. has a 1-year low of $223.65 and a 1-year high of $462.99. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.15 and a quick ratio of 3.69. The business has a fifty day moving average price of $284.11 and a 200-day moving average price of $320.56. The company has a market capitalization of $13.36 billion, a PE ratio of 31.73, a PEG ratio of 1.64 and a beta of 1.56.

EPAM Systems (NYSE:EPAM – Get Rating) last issued its quarterly earnings results on Thursday, February 16th. The information technology services provider reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.48. EPAM Systems had a return on equity of 19.60% and a net margin of 8.88%. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.23 billion. As a group, equities analysts expect that EPAM Systems, Inc. will post 9.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on EPAM. Needham & Company LLC upped their target price on EPAM Systems from $400.00 to $415.00 and gave the company a “buy” rating in a report on Friday, February 17th. Morgan Stanley decreased their target price on EPAM Systems from $410.00 to $400.00 and set an “overweight” rating for the company in a report on Friday, February 17th. StockNews.com assumed coverage on EPAM Systems in a report on Thursday, March 16th. They issued a “hold” rating for the company. Cowen downgraded EPAM Systems from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $390.00 to $370.00 in a report on Friday, February 17th. Finally, Barclays decreased their price objective on EPAM Systems from $380.00 to $310.00 in a report on Sunday. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, EPAM Systems has an average rating of “Moderate Buy” and a consensus target price of $386.15.

About EPAM Systems

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EPAM Systems, Inc engages in the provision of software product development and digital platform engineering services. It operates through the following geographical segments: North America, Europe, and Russia. The company was founded by Leonid Lozner and Arkadiy Dobkin in 1993 and is headquartered in Newtown, PA.