Bank of Montreal Can Increases Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Bank of Montreal Can increased its stake in EPAM Systems, Inc. (NYSE:EPAM) by 107.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 174,813 shares of the information technology services provider’s stock after buying an additional 90,411 shares during the quarter. Bank of Montreal Can owned 0.30% of EPAM Systems worth $32,900,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. D.A. Davidson & CO. purchased a new position in EPAM Systems in the fourth quarter valued at about $210,000. Corient Private Wealth LLC grew its holdings in EPAM Systems by 62.8% during the fourth quarter. Corient Private Wealth LLC now owns 3,462 shares of the information technology services provider’s stock valued at $1,029,000 after purchasing an additional 1,336 shares during the period. US Bancorp DE increased its position in EPAM Systems by 144.5% in the fourth quarter. US Bancorp DE now owns 7,076 shares of the information technology services provider’s stock worth $2,104,000 after buying an additional 4,182 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of EPAM Systems by 5.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 14,992 shares of the information technology services provider’s stock valued at $4,458,000 after buying an additional 785 shares during the period. Finally, Intech Investment Management LLC purchased a new position in shares of EPAM Systems during the 4th quarter valued at $285,000. Institutional investors own 91.58% of the company’s stock.

Analyst Ratings Changes

EPAM has been the subject of several recent research reports. Itau BBA Securities raised EPAM Systems from an “underperform” rating to a “market perform” rating in a report on Friday, August 9th. StockNews.com lowered shares of EPAM Systems from a “buy” rating to a “hold” rating in a research report on Wednesday. Jefferies Financial Group raised their price objective on shares of EPAM Systems from $237.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Piper Sandler reissued an “overweight” rating and set a $225.00 target price on shares of EPAM Systems in a report on Wednesday, September 4th. Finally, Susquehanna cut their price target on EPAM Systems from $260.00 to $240.00 and set a “positive” rating for the company in a report on Friday, August 9th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, EPAM Systems has a consensus rating of “Hold” and an average price target of $258.32.

EPAM Systems Trading Up 2.2 %

EPAM stock opened at $200.58 on Friday. The company has a market capitalization of $11.63 billion, a PE ratio of 27.44, a price-to-earnings-growth ratio of 4.36 and a beta of 1.45. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.84 and a current ratio of 4.84. EPAM Systems, Inc. has a one year low of $169.43 and a one year high of $317.50. The company’s 50 day moving average price is $202.36 and its two-hundred day moving average price is $214.68.

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 for the quarter, topping the consensus estimate of $2.26 by $0.19. EPAM Systems had a net margin of 8.86% and a return on equity of 14.31%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the previous year, the firm posted $2.21 earnings per share. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, analysts predict that EPAM Systems, Inc. will post 8.07 earnings per share for the current fiscal year.

EPAM Systems announced that its Board of Directors has authorized a stock buyback plan on Thursday, August 8th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the information technology services provider to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

EPAM Systems 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.