58,760 Shares in EPAM Systems, Inc. (NYSE:EPAM) Purchased by Clearline Capital LP

Clearline Capital LP purchased a new stake in EPAM Systems, Inc. (NYSE:EPAM - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 58,760 shares of the information technology services provider's stock, valued at approximately $11,053,000. Clearline Capital LP owned 0.10% of EPAM Systems at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in EPAM. D.A. Davidson & CO. bought a new stake in EPAM Systems in the 4th quarter valued at $210,000. Corient Private Wealth LLC increased its position in EPAM Systems by 62.8% during the 4th quarter. Corient Private Wealth LLC now owns 3,462 shares of the information technology services provider's stock worth $1,029,000 after buying an additional 1,336 shares during the period. US Bancorp DE lifted its holdings in shares of EPAM Systems by 144.5% during the fourth quarter. US Bancorp DE now owns 7,076 shares of the information technology services provider's stock worth $2,104,000 after buying an additional 4,182 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of EPAM Systems during the fourth quarter worth $285,000. Finally, Allianz Asset Management GmbH lifted its holdings in shares of EPAM Systems by 12.7% during the fourth quarter. Allianz Asset Management GmbH now owns 60,126 shares of the information technology services provider's stock worth $17,878,000 after buying an additional 6,798 shares in the last quarter. Institutional investors own 91.58% of the company's stock.

EPAM Systems Stock Down 0.6 %

Shares of NYSE:EPAM traded down $1.12 during trading on Friday, reaching $199.46. 300,932 shares of the stock were exchanged, compared to its average volume of 632,124. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.84 and a quick ratio of 4.84. EPAM Systems, Inc. has a 1-year low of $169.43 and a 1-year high of $317.50. The stock has a fifty day moving average of $202.17 and a two-hundred day moving average of $213.29. The firm has a market cap 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 (NYSE:EPAM - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.19. EPAM Systems had a return on equity of 14.31% and a net margin of 8.86%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the company posted $2.21 earnings per share. EPAM Systems's revenue was down 2.0% compared to the same quarter last year. Research analysts anticipate that EPAM Systems, Inc. will post 8.07 earnings per share for the current fiscal year.

EPAM Systems declared that its Board of Directors has initiated a share 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 buy up to 4.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on EPAM. The Goldman Sachs Group began coverage on EPAM Systems in a report on Monday, June 24th. They set a "neutral" rating and a $200.00 target price for the company. Deutsche Bank Aktiengesellschaft started coverage on EPAM Systems in a report on Thursday, August 22nd. They set a "hold" rating and a $204.00 target price for the company. Itau BBA Securities raised EPAM Systems from an "underperform" rating to a "market perform" rating in a research note on Friday, August 9th. Barclays boosted their price target on EPAM Systems from $200.00 to $225.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 23rd. Finally, Susquehanna dropped their price target on EPAM Systems from $260.00 to $240.00 and set a "positive" rating for the company in a research note on Friday, August 9th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price 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.