Empowered Funds LLC Boosts Holdings in EPAM Systems, Inc. $EPAM

Empowered Funds LLC boosted its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM) by 1,969.7% in the first quarter, HoldingsChannel.com reports. The fund owned 87,568 shares of the information technology services provider’s stock after buying an additional 83,337 shares during the quarter. Empowered Funds LLC’s holdings in EPAM Systems were worth $11,857,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Boston Partners acquired a new stake in shares of EPAM Systems in the fourth quarter valued at approximately $349,428,000. Capital World Investors raised its position in shares of EPAM Systems by 59.4% during the 4th quarter. Capital World Investors now owns 3,679,590 shares of the information technology services provider’s stock worth $753,874,000 after purchasing an additional 1,371,557 shares during the last quarter. Norges Bank acquired a new position in shares of EPAM Systems during the 4th quarter worth approximately $147,870,000. Price T Rowe Associates Inc. MD lifted its stake in EPAM Systems by 849.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 784,101 shares of the information technology services provider’s stock valued at $160,649,000 after buying an additional 701,500 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in EPAM Systems by 56.9% in the 4th quarter. JPMorgan Chase & Co. now owns 1,147,930 shares of the information technology services provider’s stock valued at $235,188,000 after buying an additional 416,324 shares in the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

EPAM Systems Stock Up 6.8%

EPAM stock opened at $107.26 on Thursday. The company has a 50 day moving average price of $90.83 and a two-hundred day moving average price of $128.62. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.67 and a current ratio of 2.67. The stock has a market capitalization of $5.60 billion, a P/E ratio of 15.39, a PEG ratio of 0.95 and a beta of 1.43. EPAM Systems, Inc. has a one year low of $73.06 and a one year high of $222.53.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings results on Wednesday, May 6th. The information technology services provider reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $2.75 by $0.11. EPAM Systems had a return on equity of 14.71% and a net margin of 6.96%.The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the prior year, the company posted $2.41 EPS. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, sell-side analysts expect that EPAM Systems, Inc. will post 10.4 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Jefferies Financial Group downgraded EPAM Systems from a “buy” rating to a “hold” rating and dropped their price target for the stock from $130.00 to $110.00 in a research report on Friday, May 29th. Wells Fargo & Company reduced their price objective on EPAM Systems from $151.00 to $125.00 and set an “overweight” rating on the stock in a research report on Friday, July 10th. Wedbush started coverage on EPAM Systems in a research note on Monday, June 15th. They set a “neutral” rating and a $99.00 price objective on the stock. Citigroup decreased their price objective on EPAM Systems from $112.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, Susquehanna dropped their price objective on EPAM Systems from $199.00 to $167.00 and set a “positive” rating for the company in a research report on Monday, May 4th. Seven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $133.50.

About EPAM Systems

EPAM Systems, Inc is a global provider of digital platform engineering and software development services. The company partners with clients across industries—such as financial services, healthcare, retail, and technology—to design, develop, and maintain complex software applications and digital experiences. EPAM’s offerings include custom software development, application management, infrastructure management, quality assurance, and testing services, enabling organizations to accelerate digital transformation and enhance operational efficiency.

In addition to its core engineering capabilities, EPAM delivers a range of specialized services, including product design and consulting, data and analytics, cloud computing, DevOps, and cybersecurity.