Capital World Investors Boosts Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Capital World Investors raised its position in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 22.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,304,243 shares of the information technology services provider's stock after purchasing an additional 414,942 shares during the quarter. Capital World Investors owned 4.06% of EPAM Systems worth $538,778,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of EPAM. EverSource Wealth Advisors LLC raised its holdings in shares of EPAM Systems by 90.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider's stock worth $27,000 after purchasing an additional 54 shares during the last quarter. TD Private Client Wealth LLC boosted its stake in shares of EPAM Systems by 88.5% in the fourth quarter. TD Private Client Wealth LLC now owns 147 shares of the information technology services provider's stock worth $34,000 after buying an additional 69 shares during the last quarter. Versant Capital Management Inc acquired a new stake in EPAM Systems during the fourth quarter worth about $35,000. Manchester Capital Management LLC raised its position in EPAM Systems by 590.0% during the fourth quarter. Manchester Capital Management LLC now owns 207 shares of the information technology services provider's stock valued at $48,000 after acquiring an additional 177 shares in the last quarter. Finally, Physician Wealth Advisors Inc. acquired a new position in EPAM Systems in the fourth quarter valued at approximately $49,000. 91.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EPAM has been the topic of several recent analyst reports. Piper Sandler lowered shares of EPAM Systems from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $251.00 to $170.00 in a research note on Wednesday, April 16th. Jefferies Financial Group lowered their price target on shares of EPAM Systems from $305.00 to $288.00 and set a "buy" rating on the stock in a research report on Tuesday, January 21st. StockNews.com lowered EPAM Systems from a "buy" rating to a "hold" rating in a research report on Saturday, April 12th. Needham & Company LLC reiterated a "buy" rating and set a $265.00 price target on shares of EPAM Systems in a research report on Thursday, February 20th. Finally, Morgan Stanley boosted their price objective on EPAM Systems from $230.00 to $256.00 and gave the company an "equal weight" rating in a report on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $241.93.

EPAM Systems Stock Performance

EPAM stock traded up $5.78 during trading on Wednesday, hitting $153.17. The company had a trading volume of 523,974 shares, compared to its average volume of 698,938. The firm has a 50-day moving average price of $180.12 and a 200-day moving average price of $213.80. The company has a quick ratio of 4.56, a current ratio of 2.96 and a debt-to-equity ratio of 0.01. The firm has a market cap of $8.74 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 3.38 and a beta of 1.69. EPAM Systems, Inc. has a 1-year low of $138.15 and a 1-year high of $269.00.

EPAM Systems (NYSE:EPAM - Get Free Report) last released its earnings results on Thursday, February 20th. The information technology services provider reported $2.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.75 by ($0.52). The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.21 billion. EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. On average, analysts expect that EPAM Systems, Inc. will post 8.9 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Jason D. Peterson sold 1,078 shares of the company's stock in a transaction on Monday, January 27th. The shares were sold at an average price of $257.00, for a total transaction of $277,046.00. Following the transaction, the chief financial officer now directly owns 23,382 shares of the company's stock, valued at $6,009,174. This represents a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.30% of the stock is currently owned by corporate insiders.

EPAM Systems Company 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.