Rhumbline Advisers Increases Stock Position in EPAM Systems, Inc. (NYSE:EPAM)

Rhumbline Advisers boosted its stake in EPAM Systems, Inc. (NYSE:EPAMGet Rating) by 6.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,903 shares of the information technology services provider’s stock after purchasing an additional 5,940 shares during the quarter. Rhumbline Advisers’ holdings in EPAM Systems were worth $29,155,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Capital Research Global Investors grew its position in EPAM Systems by 276.4% during the first quarter. Capital Research Global Investors now owns 6,534,789 shares of the information technology services provider’s stock valued at $1,938,272,000 after acquiring an additional 4,798,503 shares during the last quarter. Vanguard Group Inc. grew its position in EPAM Systems by 1.9% during the first quarter. Vanguard Group Inc. now owns 6,234,948 shares of the information technology services provider’s stock valued at $1,849,348,000 after acquiring an additional 115,422 shares during the last quarter. State Street Corp grew its position in EPAM Systems by 9.1% during the first quarter. State Street Corp now owns 2,471,924 shares of the information technology services provider’s stock valued at $733,197,000 after acquiring an additional 206,636 shares during the last quarter. Capital World Investors grew its holdings in shares of EPAM Systems by 2.2% in the first quarter. Capital World Investors now owns 1,764,856 shares of the information technology services provider’s stock worth $523,474,000 after purchasing an additional 38,642 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of EPAM Systems by 4.1% in the first quarter. Invesco Ltd. now owns 1,299,265 shares of the information technology services provider’s stock worth $385,376,000 after purchasing an additional 50,627 shares during the last quarter. 90.90% of the stock is currently owned by institutional investors.

EPAM Systems Stock Performance

Shares of EPAM Systems stock opened at $348.86 on Thursday. The company has a current ratio of 3.47, a quick ratio of 3.47 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $20.06 billion, a P/E ratio of 50.78, a P/E/G ratio of 1.96 and a beta of 1.60. The business has a fifty day simple moving average of $348.16 and a two-hundred day simple moving average of $352.04. EPAM Systems, Inc. has a 12 month low of $168.59 and a 12 month high of $719.56.

Analysts Set New Price Targets

Several brokerages have recently issued reports on EPAM. Cowen raised their target price on shares of EPAM Systems from $400.00 to $440.00 in a report on Friday, August 5th. StockNews.com began coverage on shares of EPAM Systems in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. cut their target price on shares of EPAM Systems from $550.00 to $420.00 and set an “overweight” rating on the stock in a report on Friday, October 14th. Susquehanna cut their target price on shares of EPAM Systems from $496.00 to $475.00 and set a “positive” rating on the stock in a report on Friday, September 16th. Finally, Citigroup cut their target price on shares of EPAM Systems from $520.00 to $400.00 in a report on Friday, November 4th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $419.87.

About EPAM Systems

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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, and maintenance with private, public, and mobile infrastructures for application, database, network, server, storage, and systems operations management, as well as monitoring, incident notification, and resolution services; and maintenance and support services.

Further Reading

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Institutional Ownership by Quarter for EPAM Systems (NYSE:EPAM)

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