Truxt Investmentos Ltda. Purchases New Position in EPAM Systems, Inc. (NYSE:EPAM)

Truxt Investmentos Ltda. purchased a new position in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,571 shares of the information technology services provider's stock, valued at approximately $1,905,000. EPAM Systems accounts for approximately 1.3% of Truxt Investmentos Ltda.'s investment portfolio, making the stock its 14th biggest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EPAM. Pacer Advisors Inc. raised its position in shares of EPAM Systems by 14,325.2% in the second quarter. Pacer Advisors Inc. now owns 657,070 shares of the information technology services provider's stock valued at $123,601,000 after purchasing an additional 652,515 shares during the period. Manning & Napier Advisors LLC acquired a new stake in shares of EPAM Systems in the second quarter worth $84,850,000. TD Asset Management Inc grew its stake in shares of EPAM Systems by 80.0% in the second quarter. TD Asset Management Inc now owns 595,486 shares of the information technology services provider's stock worth $112,017,000 after acquiring an additional 264,570 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of EPAM Systems by 47,294.2% in the second quarter. Acadian Asset Management LLC now owns 189,103 shares of the information technology services provider's stock worth $35,560,000 after acquiring an additional 188,704 shares during the last quarter. Finally, Epoch Investment Partners Inc. grew its stake in shares of EPAM Systems by 97.7% in the second quarter. Epoch Investment Partners Inc. now owns 338,667 shares of the information technology services provider's stock worth $63,707,000 after acquiring an additional 167,343 shares during the last quarter. Institutional investors own 91.58% of the company's stock.

Analysts Set New Price Targets

EPAM has been the topic of several research analyst reports. Citigroup raised their price objective on shares of EPAM Systems from $207.00 to $210.00 and gave the stock a "neutral" rating in a research note on Monday, October 28th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of EPAM Systems in a research note on Thursday, August 22nd. They set a "hold" rating and a $204.00 price target on the stock. Piper Sandler lifted their price target on shares of EPAM Systems from $225.00 to $258.00 and gave the stock an "overweight" rating in a research note on Thursday. Needham & Company LLC lifted their price target on shares of EPAM Systems from $215.00 to $265.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Barclays lifted their price target on shares of EPAM Systems from $200.00 to $225.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 23rd. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $261.50.

EPAM Systems Price Performance

Shares of EPAM Systems stock traded up $0.53 during trading on Friday, reaching $233.45. The company's stock had a trading volume of 794,168 shares, compared to its average volume of 554,863. The company has a current ratio of 4.84, a quick ratio of 4.84 and a debt-to-equity ratio of 0.01. EPAM Systems, Inc. has a one year low of $169.43 and a one year high of $317.50. The stock has a market capitalization of $13.29 billion, a P/E ratio of 33.45, a price-to-earnings-growth ratio of 4.45 and a beta of 1.46. The stock has a 50-day moving average price of $198.94 and a two-hundred day moving average price of $197.93.

EPAM Systems (NYSE:EPAM - Get Free Report) last released its earnings results on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.26 by $0.19. EPAM Systems had a net margin of 8.86% and a return on equity of 14.31%. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the prior year, the company posted $2.21 EPS. The company's revenue was down 2.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that EPAM Systems, Inc. will post 8.08 EPS for the current fiscal year.

EPAM Systems announced that its Board of Directors has authorized a share repurchase plan on Thursday, August 8th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to purchase 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 stock is undervalued.

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.