Mutual of America Capital Management LLC Cuts Stake in EPAM Systems, Inc. (NYSE:EPAM)

Mutual of America Capital Management LLC trimmed its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM) by 3.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,897 shares of the information technology services provider’s stock after selling 305 shares during the quarter. Mutual of America Capital Management LLC’s holdings in EPAM Systems were worth $1,333,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of EPAM. Capital World Investors boosted its stake in EPAM Systems by 22.0% in the fourth quarter. Capital World Investors now owns 2,304,243 shares of the information technology services provider’s stock valued at $538,778,000 after acquiring an additional 414,942 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of EPAM Systems by 39.8% in the fourth quarter. Ameriprise Financial Inc. now owns 2,181,143 shares of the information technology services provider’s stock valued at $510,053,000 after buying an additional 620,551 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of EPAM Systems by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 1,349,088 shares of the information technology services provider’s stock valued at $314,616,000 after buying an additional 37,119 shares in the last quarter. Ninety One UK Ltd bought a new position in shares of EPAM Systems in the first quarter valued at $186,280,000. Finally, Massachusetts Financial Services Co. MA raised its stake in EPAM Systems by 96.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 818,881 shares of the information technology services provider’s stock valued at $191,471,000 after purchasing an additional 401,355 shares during the period. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Scotiabank dropped their price target on shares of EPAM Systems from $250.00 to $200.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, April 29th. Wall Street Zen cut shares of EPAM Systems from a “buy” rating to a “hold” rating in a report on Friday. Piper Sandler increased their target price on shares of EPAM Systems from $170.00 to $194.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. Needham & Company LLC increased their target price on shares of EPAM Systems from $185.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Finally, Morgan Stanley dropped their price target on shares of EPAM Systems from $250.00 to $210.00 and set an “equal weight” rating for the company in a research report on Friday, May 9th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, EPAM Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $231.73.

EPAM Systems Price Performance

EPAM opened at $164.75 on Monday. EPAM Systems, Inc. has a one year low of $138.15 and a one year high of $269.00. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.06 and a quick ratio of 3.06. The company’s 50 day simple moving average is $175.66 and its 200-day simple moving average is $191.11. The stock has a market capitalization of $9.33 billion, a P/E ratio of 23.04, a price-to-earnings-growth ratio of 2.32 and a beta of 1.70.

EPAM Systems (NYSE:EPAM) last announced its quarterly earnings data on Thursday, May 8th. The information technology services provider reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.14. EPAM Systems had a net margin of 8.47% and a return on equity of 14.15%. The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the firm earned $2.46 earnings per share. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. Sell-side analysts anticipate that EPAM Systems, Inc. will post 8.9 earnings per share for the current fiscal year.

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.