Zurcher Kantonalbank Zurich Cantonalbank Has $2.07 Million Position in EPAM Systems, Inc. (NYSE:EPAM)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of EPAM Systems, Inc. (NYSE:EPAM) by 4.7% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 11,014 shares of the information technology services provider’s stock after buying an additional 492 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in EPAM Systems were worth $2,072,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Benjamin F. Edwards & Company Inc. acquired a new position in shares of EPAM Systems in the fourth quarter valued at $25,000. ORG Partners LLC increased its holdings in EPAM Systems by 5,000.0% in the 2nd quarter. ORG Partners LLC now owns 153 shares of the information technology services provider’s stock valued at $28,000 after buying an additional 150 shares during the period. Riverview Trust Co acquired a new position in shares of EPAM Systems in the 1st quarter valued at $29,000. Opal Wealth Advisors LLC bought a new position in shares of EPAM Systems during the 2nd quarter worth about $29,000. Finally, Principal Securities Inc. acquired a new stake in shares of EPAM Systems during the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 91.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on EPAM. Barclays increased their price target on shares of EPAM Systems from $200.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Jefferies Financial Group raised EPAM Systems from a “hold” rating to a “buy” rating and increased their target price for the stock from $202.00 to $237.00 in a report on Tuesday, July 16th. Mizuho decreased their price target on EPAM Systems from $345.00 to $258.00 and set a “buy” rating on the stock in a research note on Tuesday, May 14th. Piper Sandler lowered their price target on EPAM Systems from $230.00 to $225.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Finally, Wolfe Research cut EPAM Systems from an “outperform” rating to a “peer perform” rating in a report on Friday, May 17th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, EPAM Systems currently has an average rating of “Hold” and a consensus target price of $260.21.

EPAM Systems Trading Down 0.2 %

EPAM opened at $200.76 on Friday. EPAM Systems, Inc. has a 1-year low of $169.43 and a 1-year high of $317.50. The stock has a market capitalization of $11.64 billion, a PE ratio of 27.46, a PEG ratio of 4.97 and a beta of 1.45. The company has a current ratio of 4.68, a quick ratio of 4.68 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average price of $198.28 and a two-hundred day moving average price of $227.81.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings results on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the business posted $2.21 earnings per share. EPAM Systems’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, equities analysts anticipate that EPAM Systems, Inc. will post 7.81 earnings per share for the current fiscal year.

EPAM Systems declared that its Board of Directors has initiated a stock repurchase plan on Thursday, August 8th that permits the company to buyback $500.00 million in outstanding 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 plans are usually a sign that the company’s leadership 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.