Fred Alger Management LLC Has $65,000 Position in EPAM Systems, Inc. (NYSE:EPAM)

Fred Alger Management LLC lessened its stake in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 99.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 347 shares of the information technology services provider's stock after selling 40,759 shares during the period. Fred Alger Management LLC's holdings in EPAM Systems were worth $65,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Riverview Trust Co acquired a new position in shares of EPAM Systems during the 1st quarter worth about $29,000. ORG Partners LLC boosted its stake 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 acquiring an additional 150 shares during the period. Opal Wealth Advisors LLC bought a new position in shares of EPAM Systems during the 2nd quarter worth approximately $29,000. Whittier Trust Co. acquired a new position in shares of EPAM Systems during the 1st quarter worth approximately $64,000. Finally, Mather Group LLC. bought a new stake in EPAM Systems in the 1st quarter valued at $87,000. 91.58% of the stock is owned by institutional investors and hedge funds.

EPAM Systems Trading Down 0.6 %

EPAM Systems stock traded down $1.12 during trading hours on Friday, hitting $199.46. The stock had a trading volume of 300,932 shares, compared to its average volume of 632,124. The business's 50 day simple moving average is $202.17 and its 200-day simple moving average is $213.29. EPAM Systems, Inc. has a one year low of $169.43 and a one year 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. The stock has a market cap of $11.56 billion, a price-to-earnings ratio of 27.29, a P/E/G ratio of 4.36 and a beta of 1.45.

EPAM Systems (NYSE:EPAM - Get Free Report) last released 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 during the quarter, compared to the consensus estimate of $1.14 billion. EPAM Systems had a net margin of 8.86% and a return on equity of 14.31%. The company's revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.21 earnings per share. On average, equities analysts predict that EPAM Systems, Inc. will post 8.07 EPS for the current fiscal year.

EPAM Systems announced that its Board of Directors has authorized a share buyback program on Thursday, August 8th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the information technology services provider to purchase up to 4.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Jefferies Financial Group upped their price objective on shares of EPAM Systems from $237.00 to $250.00 and gave the company a "buy" rating in a report on Monday, September 9th. Susquehanna lowered their price target on shares of EPAM Systems from $260.00 to $240.00 and set a "positive" rating on the stock in a report on Friday, August 9th. StockNews.com downgraded shares of EPAM Systems from a "buy" rating to a "hold" rating in a research report on Wednesday. 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 target price on the stock. Finally, Piper Sandler reissued an "overweight" rating and set a $225.00 price target on shares of EPAM Systems in a report on Wednesday, September 4th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, EPAM Systems currently has a consensus rating of "Hold" and a consensus price target of $258.32.

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.