Bayesian Capital Management LP Acquires New Stake in EPAM Systems, Inc. (NYSE:EPAM)

Bayesian Capital Management LP acquired a new stake in EPAM Systems, Inc. (NYSE:EPAM) during the first quarter, according to its most recent filing with the SEC. The firm acquired 4,374 shares of the information technology services provider’s stock, valued at approximately $1,208,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. acquired a new stake in EPAM Systems in the fourth quarter valued at $25,000. Riverview Trust Co acquired a new stake in EPAM Systems in the first quarter valued at $29,000. Principal Securities Inc. acquired a new stake in EPAM Systems in the fourth quarter valued at $43,000. Westpac Banking Corp lifted its holdings in EPAM Systems by 151.4% in the fourth quarter. Westpac Banking Corp now owns 176 shares of the information technology services provider’s stock valued at $52,000 after acquiring an additional 106 shares during the period. Finally, Whittier Trust Co. acquired a new stake in EPAM Systems in the first quarter valued at $64,000. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Mizuho cut their price target on EPAM Systems from $345.00 to $258.00 and set a “buy” rating for the company in a research note on Tuesday, May 14th. Wolfe Research downgraded EPAM Systems from an “outperform” rating to a “peer perform” rating in a research note on Friday, May 17th. Redburn Atlantic assumed coverage on EPAM Systems in a research note on Friday, May 24th. They set a “neutral” rating and a $195.00 price target for the company. Wedbush reaffirmed an “outperform” rating and set a $340.00 price target on shares of EPAM Systems in a research note on Wednesday, April 10th. Finally, Citigroup cut their price target on EPAM Systems from $325.00 to $275.00 and set a “neutral” rating for the company in a research note on Monday, April 22nd. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, EPAM Systems has a consensus rating of “Moderate Buy” and a consensus target price of $270.28.

EPAM Systems Stock Performance

Shares of EPAM opened at $212.74 on Wednesday. The business’s 50 day moving average is $187.74 and its two-hundred day moving average is $241.85. EPAM Systems, Inc. has a 52-week low of $169.43 and a 52-week high of $317.50. The firm has a market cap of $12.33 billion, a price-to-earnings ratio of 29.24, a PEG ratio of 4.86 and a beta of 1.45. 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 posted its quarterly earnings results on Thursday, May 9th. The information technology services provider reported $1.86 earnings per share (EPS) 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 analyst estimates of $1.16 billion. EPAM Systems had a return on equity of 14.95% and a net margin of 9.28%. Analysts forecast that EPAM Systems, Inc. will post 7.81 EPS for the current fiscal year.

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.