EPAM Systems, Inc. (NYSE:EPAM) Holdings Lifted by 1620 Investment Advisors Inc.

1620 Investment Advisors Inc. increased its holdings in EPAM Systems, Inc. (NYSE:EPAM) by 28.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 470 shares of the information technology services provider’s stock after acquiring an additional 104 shares during the period. 1620 Investment Advisors Inc.’s holdings in EPAM Systems were worth $94,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Diversify Wealth Management LLC acquired a new stake in EPAM Systems in the third quarter valued at approximately $627,000. Diversify Advisory Services LLC bought a new stake in shares of EPAM Systems during the 3rd quarter worth about $254,000. abrdn plc lifted its holdings in EPAM Systems by 42.7% in the 3rd quarter. abrdn plc now owns 29,203 shares of the information technology services provider’s stock worth $5,791,000 after purchasing an additional 8,739 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of EPAM Systems by 115.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,083 shares of the information technology services provider’s stock worth $216,000 after purchasing an additional 581 shares during the last quarter. Finally, Baker Tilly Wealth Management LLC acquired a new stake in EPAM Systems in the 3rd quarter valued at approximately $278,000. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on EPAM shares. Susquehanna reduced their price objective on EPAM Systems from $260.00 to $240.00 and set a “positive” rating for the company in a research report on Friday, August 9th. Barclays lifted their price objective on EPAM Systems from $200.00 to $225.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Itau BBA Securities raised shares of EPAM Systems from an “underperform” rating to a “market perform” rating in a report on Friday, August 9th. Piper Sandler restated an “overweight” rating and issued a $225.00 price target on shares of EPAM Systems in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. raised their price objective on shares of EPAM Systems from $222.00 to $262.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $254.89.

EPAM Systems Price Performance

EPAM stock opened at $189.01 on Thursday. EPAM Systems, Inc. has a 52-week low of $169.43 and a 52-week high of $317.50. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.84 and a current ratio of 4.84. The company has a market capitalization of $10.96 billion, a P/E ratio of 25.86, a PEG ratio of 4.35 and a beta of 1.45. The company has a fifty day moving average price of $198.45 and a 200-day moving average price of $200.21.

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 (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.19. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. EPAM Systems had a return on equity of 14.31% and a net margin of 8.86%. The company’s revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.21 earnings per share. As a group, equities analysts expect that EPAM Systems, Inc. will post 8.08 EPS for the current year.

EPAM Systems declared that its board has initiated a stock repurchase plan on Thursday, August 8th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the information technology services provider to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are usually an indication 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.