ProShare Advisors LLC Boosts Stock Holdings in EPAM Systems, Inc. (NYSE:EPAM)

ProShare Advisors LLC boosted its stake in EPAM Systems, Inc. (NYSE:EPAM) by 9.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,542 shares of the information technology services provider’s stock after purchasing an additional 979 shares during the quarter. ProShare Advisors LLC’s holdings in EPAM Systems were worth $2,171,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Profund Advisors LLC lifted its position in shares of EPAM Systems by 7.1% in the second quarter. Profund Advisors LLC now owns 1,194 shares of the information technology services provider’s stock worth $225,000 after buying an additional 79 shares in the last quarter. Sompo Asset Management Co. Ltd. raised its position in EPAM Systems by 46.4% during the second quarter. Sompo Asset Management Co. Ltd. now owns 4,420 shares of the information technology services provider’s stock valued at $831,000 after purchasing an additional 1,400 shares during the period. Transatlantique Private Wealth LLC lifted its stake in shares of EPAM Systems by 49.8% in the 2nd quarter. Transatlantique Private Wealth LLC now owns 5,291 shares of the information technology services provider’s stock valued at $984,000 after purchasing an additional 1,758 shares during the last quarter. Summit Trail Advisors LLC increased its position in shares of EPAM Systems by 12.5% during the 2nd quarter. Summit Trail Advisors LLC now owns 1,222 shares of the information technology services provider’s stock valued at $230,000 after purchasing an additional 136 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in EPAM Systems by 37.3% during the 2nd quarter. Sei Investments Co. now owns 25,432 shares of the information technology services provider’s stock valued at $4,785,000 after buying an additional 6,914 shares during the period. Institutional investors own 91.58% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of EPAM Systems in a research report on Monday, June 24th. They set a “neutral” rating and a $200.00 price objective on the stock. Barclays increased their price objective 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 boosted their target price on EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Piper Sandler reiterated an “overweight” rating and issued a $225.00 price target on shares of EPAM Systems in a report on Wednesday, September 4th. Finally, Itau BBA Securities raised EPAM Systems from an “underperform” rating to a “market perform” rating in a research note on Friday, August 9th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, EPAM Systems currently has a consensus rating of “Hold” and an average price target of $258.32.

EPAM Systems Stock Performance

Shares of NYSE:EPAM opened at $199.46 on Friday. The firm has a 50 day moving average of $202.17 and a 200 day moving average of $213.95. The company has a quick ratio of 4.84, a current ratio of 4.84 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $11.56 billion, a price-to-earnings ratio of 27.29, a price-to-earnings-growth ratio of 4.36 and a beta of 1.45. EPAM Systems, Inc. has a 52 week low of $169.43 and a 52 week high of $317.50.

EPAM Systems (NYSE:EPAM) last released its quarterly earnings results on Thursday, August 8th. The information technology services provider reported $2.45 EPS for the quarter, topping the consensus estimate of $2.26 by $0.19. EPAM Systems had a return on equity of 14.31% and a net margin of 8.86%. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the company posted $2.21 EPS. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, sell-side analysts predict that EPAM Systems, Inc. will post 8.07 earnings per share for the current fiscal year.

EPAM Systems declared that its board has initiated a stock buyback program on Thursday, August 8th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are 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.