Bank of Montreal Can Acquires 90,411 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Bank of Montreal Can boosted its position in EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 107.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 174,813 shares of the information technology services provider's stock after buying an additional 90,411 shares during the quarter. Bank of Montreal Can owned approximately 0.30% of EPAM Systems worth $32,900,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. ORG Partners LLC lifted its position in shares of EPAM Systems by 5,000.0% during the 2nd quarter. ORG Partners LLC now owns 153 shares of the information technology services provider's stock worth $28,000 after purchasing an additional 150 shares during the last quarter. Riverview Trust Co acquired a new position in shares of EPAM Systems during the first quarter worth approximately $29,000. Opal Wealth Advisors LLC bought a new stake in shares of EPAM Systems in the second quarter valued at approximately $29,000. Whittier Trust Co. acquired a new stake in shares of EPAM Systems in the first quarter worth $64,000. Finally, 1620 Investment Advisors Inc. bought a new position in EPAM Systems during the second quarter worth $69,000. Institutional investors own 91.58% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on EPAM. Barclays lifted their target price on EPAM Systems from $200.00 to $225.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group initiated coverage on EPAM Systems in a research report on Monday, June 24th. They issued a "neutral" rating and a $200.00 price objective for the company. Piper Sandler reiterated an "overweight" rating and issued a $225.00 price objective on shares of EPAM Systems in a research report on Wednesday, September 4th. JPMorgan Chase & Co. raised their price objective on EPAM Systems from $222.00 to $262.00 and gave the stock an "overweight" rating in a research report on Friday, September 6th. Finally, Itau BBA Securities upgraded EPAM Systems from an "underperform" rating to a "market perform" rating in a research report on Friday, August 9th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $258.32.

EPAM Systems Price Performance

EPAM traded down $1.12 during trading on Friday, hitting $199.46. The company's stock had a trading volume of 300,932 shares, compared to its average volume of 632,124. The firm's 50 day moving average price is $202.17 and its two-hundred day moving average price is $213.95. The stock 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 12 month low of $169.43 and a 12 month high of $317.50. The company has a quick ratio of 4.84, a current ratio of 4.84 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAM - Get Free Report) last released its earnings results on Thursday, August 8th. The information technology services provider reported $2.45 EPS for the quarter, beating the consensus estimate of $2.26 by $0.19. The company had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.14 billion. EPAM Systems had a return on equity of 14.31% and a net margin of 8.86%. The business's revenue for the quarter was down 2.0% on a year-over-year basis. During the same period last year, the firm earned $2.21 EPS. Sell-side analysts forecast that EPAM Systems, Inc. will post 8.07 earnings per share for the current fiscal year.

EPAM Systems announced that its board has approved a stock buyback plan on Thursday, August 8th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the information technology services provider to purchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board believes its shares are undervalued.

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.