Bank of New York Mellon Corp Sells 19,766 Shares of EPAM Systems, Inc. $EPAM

Bank of New York Mellon Corp trimmed its holdings in EPAM Systems, Inc. (NYSE:EPAM) by 6.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 288,424 shares of the information technology services provider’s stock after selling 19,766 shares during the period. Bank of New York Mellon Corp owned about 0.55% of EPAM Systems worth $39,053,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Boston Partners bought a new stake in EPAM Systems in the 4th quarter valued at $349,428,000. Capital World Investors increased its holdings in shares of EPAM Systems by 59.4% in the fourth quarter. Capital World Investors now owns 3,679,590 shares of the information technology services provider’s stock worth $753,874,000 after purchasing an additional 1,371,557 shares during the last quarter. Norges Bank bought a new stake in shares of EPAM Systems in the fourth quarter worth about $147,870,000. Price T Rowe Associates Inc. MD lifted its position in shares of EPAM Systems by 849.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 784,101 shares of the information technology services provider’s stock worth $160,649,000 after buying an additional 701,500 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of EPAM Systems by 56.9% in the fourth quarter. JPMorgan Chase & Co. now owns 1,147,930 shares of the information technology services provider’s stock worth $235,188,000 after buying an additional 416,324 shares in the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

EPAM Systems Stock Performance

NYSE EPAM opened at $89.94 on Friday. The company has a market cap of $4.70 billion, a P/E ratio of 12.90, a P/E/G ratio of 0.85 and a beta of 1.43. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.67 and a current ratio of 2.67. The business’s 50 day moving average price is $90.89 and its 200-day moving average price is $131.65. EPAM Systems, Inc. has a fifty-two week low of $73.06 and a fifty-two week high of $222.53.

EPAM Systems (NYSE:EPAM) last released its quarterly earnings results on Wednesday, May 6th. The information technology services provider reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.75 by $0.11. EPAM Systems had a return on equity of 14.71% and a net margin of 6.96%.The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the prior year, the firm posted $2.41 EPS. EPAM Systems’s quarterly revenue was up 7.6% compared to the same quarter last year. Sell-side analysts predict that EPAM Systems, Inc. will post 10.4 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on EPAM shares. The Goldman Sachs Group cut EPAM Systems from a “buy” rating to a “neutral” rating and cut their price target for the company from $215.00 to $110.00 in a report on Friday, May 8th. Truist Financial decreased their price objective on EPAM Systems from $146.00 to $112.00 and set a “hold” rating on the stock in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $85.00 target price on shares of EPAM Systems in a research report on Friday, July 10th. Needham & Company LLC cut their target price on shares of EPAM Systems from $175.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Finally, TD Cowen reduced their price target on shares of EPAM Systems from $170.00 to $131.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Seven investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, EPAM Systems currently has a consensus rating of “Hold” and a consensus price target of $134.36.

EPAM Systems Profile

EPAM Systems, Inc is a global provider of digital platform engineering and software development services. The company partners with clients across industries—such as financial services, healthcare, retail, and technology—to design, develop, and maintain complex software applications and digital experiences. EPAM’s offerings include custom software development, application management, infrastructure management, quality assurance, and testing services, enabling organizations to accelerate digital transformation and enhance operational efficiency.

In addition to its core engineering capabilities, EPAM delivers a range of specialized services, including product design and consulting, data and analytics, cloud computing, DevOps, and cybersecurity.