White Oak Capital Partners Pte. Ltd. Acquires New Holdings in EPAM Systems, Inc. (NYSE:EPAM)

White Oak Capital Partners Pte. Ltd. bought a new position in EPAM Systems, Inc. (NYSE:EPAM - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,732 shares of the information technology services provider's stock, valued at approximately $406,000. EPAM Systems accounts for about 0.2% of White Oak Capital Partners Pte. Ltd.'s investment portfolio, making the stock its 11th largest position.

A number of other hedge funds have also added to or reduced their stakes in the stock. Pinebridge Investments L.P. increased its position in EPAM Systems by 66.6% during the fourth quarter. Pinebridge Investments L.P. now owns 18,953 shares of the information technology services provider's stock valued at $4,432,000 after acquiring an additional 7,576 shares during the last quarter. Quantessence Capital LLC bought a new stake in shares of EPAM Systems during the 4th quarter valued at about $739,000. Arvin Capital Management LP increased its position in shares of EPAM Systems by 22.0% during the 4th quarter. Arvin Capital Management LP now owns 62,145 shares of the information technology services provider's stock valued at $14,531,000 after purchasing an additional 11,187 shares during the last quarter. Hsbc Holdings PLC lifted its stake in shares of EPAM Systems by 2.1% in the 4th quarter. Hsbc Holdings PLC now owns 240,194 shares of the information technology services provider's stock worth $56,158,000 after purchasing an additional 4,848 shares during the period. Finally, SIH Partners LLLP purchased a new position in shares of EPAM Systems in the fourth quarter worth approximately $439,000. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on EPAM. Jefferies Financial Group cut their price objective on shares of EPAM Systems from $305.00 to $288.00 and set a "buy" rating for the company in a research report on Tuesday, January 21st. Barclays decreased their price objective on EPAM Systems from $290.00 to $270.00 and set an "overweight" rating on the stock in a research note on Monday, March 10th. Piper Sandler downgraded EPAM Systems from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $251.00 to $170.00 in a research note on Wednesday, April 16th. StockNews.com cut shares of EPAM Systems from a "buy" rating to a "hold" rating in a research note on Saturday, April 12th. Finally, Morgan Stanley upped their price target on shares of EPAM Systems from $230.00 to $256.00 and gave the stock an "equal weight" rating in a research report on Friday, January 31st. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, EPAM Systems presently has a consensus rating of "Moderate Buy" and a consensus price target of $245.93.

EPAM Systems Trading Up 1.3 %

Shares of EPAM Systems stock opened at $147.46 on Wednesday. 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 $8.42 billion, a price-to-earnings ratio of 18.81, a PEG ratio of 3.38 and a beta of 1.69. EPAM Systems, Inc. has a twelve month low of $138.15 and a twelve month high of $269.00. The business has a 50-day moving average price of $182.38 and a 200-day moving average price of $214.23.

EPAM Systems (NYSE:EPAM - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.21 billion. EPAM Systems had a return on equity of 14.60% and a net margin of 9.61%. Equities research analysts anticipate that EPAM Systems, Inc. will post 8.9 EPS for the current fiscal year.

Insiders Place Their Bets

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

About EPAM Systems

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.

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