EPAM Systems, Inc. (NYSE:EPAM) Shares Bought by Retirement Systems of Alabama

Retirement Systems of Alabama lifted its stake in shares of EPAM Systems, Inc. (NYSE:EPAM) by 0.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,788 shares of the information technology services provider’s stock after buying an additional 52 shares during the quarter. Retirement Systems of Alabama’s holdings in EPAM Systems were worth $2,406,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Federated Hermes Inc. grew its position in shares of EPAM Systems by 1,451.0% in the 4th quarter. Federated Hermes Inc. now owns 5,692 shares of the information technology services provider’s stock worth $1,692,000 after acquiring an additional 5,325 shares in the last quarter. Atria Wealth Solutions Inc. grew its stake in EPAM Systems by 3.3% during the 4th quarter. Atria Wealth Solutions Inc. now owns 1,235 shares of the information technology services provider’s stock worth $367,000 after buying an additional 40 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of EPAM Systems by 152.0% during the fourth quarter. Russell Investments Group Ltd. now owns 28,533 shares of the information technology services provider’s stock worth $8,488,000 after acquiring an additional 17,212 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of EPAM Systems by 7.1% in the 4th quarter. Van ECK Associates Corp now owns 8,328 shares of the information technology services provider’s stock worth $2,476,000 after acquiring an additional 553 shares during the period. Finally, First Trust Direct Indexing L.P. acquired a new position in EPAM Systems during the 4th quarter valued at about $231,000. Institutional investors own 91.58% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on EPAM. Piper Sandler dropped their price target on shares of EPAM Systems from $230.00 to $225.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. decreased their price target on EPAM Systems from $331.00 to $311.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of EPAM Systems in a research report on Thursday, August 22nd. They issued a “hold” rating and a $204.00 target price for the company. Itau BBA Securities upgraded shares of EPAM Systems from an “underperform” rating to a “market perform” rating in a research note on Friday, August 9th. Finally, Redburn Atlantic assumed coverage on EPAM Systems in a research report on Friday, May 24th. They set a “neutral” rating and a $195.00 price target on the stock. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $260.21.

EPAM Systems Stock Performance

Shares of EPAM opened at $200.25 on Wednesday. The company has a market capitalization of $11.61 billion, a PE ratio of 27.39, a PEG ratio of 4.97 and a beta of 1.45. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.68 and a current ratio of 4.68. The company’s 50 day moving average price is $197.00 and its 200 day moving average price is $229.15. 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 EPS for the quarter, beating the consensus estimate of $2.26 by $0.19. EPAM Systems had a net margin of 9.28% and a return on equity of 14.95%. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the previous year, the company posted $2.21 EPS. EPAM Systems’s revenue was down 2.0% on a year-over-year basis. Research analysts expect that EPAM Systems, Inc. will post 7.81 EPS for the current fiscal year.

EPAM Systems announced that its Board of Directors has initiated a stock buyback plan 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 repurchase up to 4.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are 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.