UniSuper Management Pty Ltd Raises Stock Holdings in EPAM Systems, Inc. (NYSE:EPAM)

UniSuper Management Pty Ltd increased its stake in shares of EPAM Systems, Inc. (NYSE:EPAM) by 46.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,350 shares of the information technology services provider’s stock after purchasing an additional 3,302 shares during the quarter. UniSuper Management Pty Ltd’s holdings in EPAM Systems were worth $2,858,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in EPAM. Atria Wealth Solutions Inc. increased its holdings in shares of EPAM Systems by 3.3% in the fourth quarter. Atria Wealth Solutions Inc. now owns 1,235 shares of the information technology services provider’s stock valued at $367,000 after purchasing an additional 40 shares during the period. Equitable Trust Co. increased its holdings in shares of EPAM Systems by 0.8% in the first quarter. Equitable Trust Co. now owns 5,941 shares of the information technology services provider’s stock valued at $1,641,000 after purchasing an additional 46 shares during the period. Czech National Bank increased its holdings in shares of EPAM Systems by 0.5% in the first quarter. Czech National Bank now owns 10,152 shares of the information technology services provider’s stock valued at $2,804,000 after purchasing an additional 46 shares during the period. Meridian Management Co. increased its holdings in shares of EPAM Systems by 0.6% in the fourth quarter. Meridian Management Co. now owns 8,287 shares of the information technology services provider’s stock valued at $2,372,000 after purchasing an additional 48 shares during the period. Finally, Kentucky Retirement Systems increased its holdings in shares of EPAM Systems by 1.4% in the fourth quarter. Kentucky Retirement Systems now owns 4,617 shares of the information technology services provider’s stock valued at $1,373,000 after purchasing an additional 63 shares during the period. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

EPAM Systems Price Performance

Shares of NYSE EPAM traded down $4.78 during midday trading on Tuesday, hitting $207.32. The stock had a trading volume of 399,919 shares, compared to its average volume of 644,170. The company has a market capitalization of $12.02 billion, a PE ratio of 28.36, a P/E/G ratio of 4.83 and a beta of 1.45. The stock has a 50 day simple moving average of $185.80 and a 200-day simple moving average of $245.06. EPAM Systems, Inc. has a 1 year low of $169.43 and a 1 year high of $317.50. The company has a quick ratio of 4.68, a current ratio of 4.68 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAM) last released its earnings results on Thursday, May 9th. The information technology services provider reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.09. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. EPAM Systems had a return on equity of 14.95% and a net margin of 9.28%. On average, sell-side analysts expect that EPAM Systems, Inc. will post 7.81 EPS for the current fiscal year.

Wall Street Analyst Weigh In

EPAM has been the topic of a number of recent research reports. Barclays upped their target price on EPAM Systems from $200.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Tuesday. HSBC lowered their target price on EPAM Systems from $350.00 to $345.00 and set a “buy” rating on the stock in a research note on Wednesday, April 3rd. Citigroup lowered their target price on EPAM Systems from $325.00 to $275.00 and set a “neutral” rating on the stock in a research note on Monday, April 22nd. Mizuho lowered their target price on EPAM Systems from $345.00 to $258.00 and set a “buy” rating on the stock in a research note on Tuesday, May 14th. Finally, Morgan Stanley upgraded EPAM Systems from an “underweight” rating to an “equal weight” rating and lowered their target price for the stock from $236.00 to $225.00 in a research note on Friday, April 26th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $270.28.

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.