Portside Wealth Group LLC Takes Position in EPAM Systems, Inc. (NYSE:EPAM)

Portside Wealth Group LLC acquired a new position in EPAM Systems, Inc. (NYSE:EPAM) during the third quarter, HoldingsChannel.com reports. The institutional investor acquired 5,136 shares of the information technology services provider’s stock, valued at approximately $1,022,000.

A number of other large investors have also modified their holdings of EPAM. Pacer Advisors Inc. boosted its position in EPAM Systems by 14,325.2% during the 2nd quarter. Pacer Advisors Inc. now owns 657,070 shares of the information technology services provider’s stock worth $123,601,000 after acquiring an additional 652,515 shares during the period. Manning & Napier Advisors LLC bought a new position in EPAM Systems in the 2nd quarter valued at about $84,850,000. TD Asset Management Inc increased its stake in EPAM Systems by 80.0% during the 2nd quarter. TD Asset Management Inc now owns 595,486 shares of the information technology services provider’s stock valued at $112,017,000 after buying an additional 264,570 shares during the period. Acadian Asset Management LLC raised its position in shares of EPAM Systems by 47,294.2% during the 2nd quarter. Acadian Asset Management LLC now owns 189,103 shares of the information technology services provider’s stock worth $35,560,000 after buying an additional 188,704 shares in the last quarter. Finally, Epoch Investment Partners Inc. lifted its stake in shares of EPAM Systems by 97.7% in the 2nd 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 period. Institutional investors and hedge funds own 91.58% of the company’s stock.

EPAM Systems Stock Performance

Shares of EPAM stock opened at $233.45 on Friday. The company has a market capitalization of $13.29 billion, a price-to-earnings ratio of 30.32, a P/E/G ratio of 4.16 and a beta of 1.46. EPAM Systems, Inc. has a 1-year low of $169.43 and a 1-year high of $317.50. The company has a current ratio of 4.84, a quick ratio of 4.84 and a debt-to-equity ratio of 0.01. The stock’s fifty day simple moving average is $198.94 and its 200-day simple moving average is $198.28.

EPAM Systems (NYSE:EPAM) last issued its earnings results on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.19. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. EPAM Systems had a return on equity of 14.31% and a net margin of 8.86%. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.21 EPS. On average, sell-side analysts predict that EPAM Systems, Inc. will post 8.08 earnings per share for the current fiscal year.

EPAM Systems declared that its board has authorized a stock buyback plan on Thursday, August 8th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to buy up to 4.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of research firms recently commented on EPAM. StockNews.com lowered shares of EPAM Systems from a “buy” rating to a “hold” rating in a research note on Thursday. Piper Sandler boosted their price objective on EPAM Systems from $225.00 to $258.00 and gave the stock an “overweight” rating in a research note on Thursday. Barclays raised their target price 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. Jefferies Financial Group boosted their price target on shares of EPAM Systems from $237.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Finally, Susquehanna raised their price objective on shares of EPAM Systems from $240.00 to $270.00 and gave the company a “positive” rating in a research report on Friday. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $261.50.

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.