Belpointe Asset Management LLC Takes $93,000 Position in EPAM Systems, Inc. (NYSE:EPAM)

Belpointe Asset Management LLC acquired a new position in EPAM Systems, Inc. (NYSE:EPAM – Get Rating) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 285 shares of the information technology services provider’s stock, valued at approximately $93,000.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in EPAM Systems by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 6,358,658 shares of the information technology services provider’s stock worth $2,303,042,000 after acquiring an additional 60,794 shares during the last quarter. Alliancebernstein L.P. grew its stake in 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 worth $1,017,817,000 after buying an additional 107,002 shares during the last quarter. State Street Corp grew its stake in 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 worth $733,197,000 after buying an additional 206,636 shares during the last quarter. Capital World Investors grew its stake in 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 worth $523,474,000 after buying an additional 38,642 shares during the last quarter. Finally, Invesco Ltd. grew its stake in 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 worth $385,376,000 after buying an additional 50,627 shares during the last quarter. 92.29% of the stock is currently owned by institutional investors.

EPAM Systems Stock Up 3.9 %

Shares of EPAM opened at $247.50 on Friday. EPAM Systems, Inc. has a 52 week low of $223.65 and a 52 week high of $462.99. The firm has a market cap of $14.33 billion, a P/E ratio of 33.95, a price-to-earnings-growth ratio of 2.23 and a beta of 1.56. The firm’s 50-day simple moving average is $273.38 and its 200 day simple moving average is $314.79. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.15 and a current ratio of 4.15.

EPAM Systems (NYSE:EPAM – Get Rating) last announced its quarterly earnings results on Thursday, February 16th. The information technology services provider reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.48. EPAM Systems had a net margin of 8.88% and a return on equity of 19.60%. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.23 billion. On average, analysts forecast that EPAM Systems, Inc. will post 8.81 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Cowen cut shares of 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 research note on Friday, February 17th. Barclays cut their price objective on shares of EPAM Systems from $380.00 to $310.00 in a report on Sunday, May 7th. Piper Sandler restated an “overweight” rating and issued a $391.00 price objective on shares of EPAM Systems in a report on Tuesday, February 28th. Susquehanna cut their target price on shares of EPAM Systems from $410.00 to $350.00 in a report on Monday, May 8th. Finally, Citigroup cut their target price on shares of EPAM Systems from $430.00 to $360.00 in a report on Monday, May 1st. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently 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.