Rafferty Asset Management LLC bought a new stake in EPAM Systems, Inc. (NYSE:EPAM – Get Rating) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 11,785 shares of the information technology services provider’s stock, valued at approximately $7,878,000.
Several other institutional investors and hedge funds have also modified their holdings of the company. Goldman Sachs Group Inc. lifted its stake in EPAM Systems by 94.2% in the 3rd quarter. Goldman Sachs Group Inc. now owns 589,359 shares of the information technology services provider’s stock valued at $336,217,000 after purchasing an additional 285,923 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of EPAM Systems during the 4th quarter valued at $172,415,000. Northern Trust Corp grew its position in EPAM Systems by 30.4% during the 4th quarter. Northern Trust Corp now owns 787,734 shares of the information technology services provider’s stock worth $526,561,000 after acquiring an additional 183,846 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in EPAM Systems by 110.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 277,274 shares of the information technology services provider’s stock worth $158,179,000 after purchasing an additional 145,499 shares in the last quarter. Finally, Two Sigma Investments LP raised its position in EPAM Systems by 19,271.8% in the third quarter. Two Sigma Investments LP now owns 116,231 shares of the information technology services provider’s stock valued at $66,307,000 after purchasing an additional 115,631 shares during the last quarter. Institutional investors own 95.24% of the company’s stock.
In other EPAM Systems news, CFO Jason D. Peterson sold 1,000 shares of the stock in a transaction dated Wednesday, May 11th. The stock was sold at an average price of $325.00, for a total transaction of $325,000.00. Following the completion of the sale, the chief financial officer now directly owns 12,162 shares in the company, valued at approximately $3,952,650. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 4.80% of the company’s stock.
EPAM Systems (NYSE:EPAM – Get Rating) last issued its quarterly earnings results on Thursday, May 5th. The information technology services provider reported $2.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.62. EPAM Systems had a return on equity of 21.92% and a net margin of 11.14%. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the business posted $1.63 EPS. The business’s revenue was up 50.1% compared to the same quarter last year. Equities research analysts forecast that EPAM Systems, Inc. will post 7.39 EPS for the current fiscal year.
A number of research analysts recently issued reports on the stock. Cowen dropped their price objective on shares of EPAM Systems from $615.00 to $355.00 in a report on Thursday, March 3rd. Morgan Stanley raised their price target on shares of EPAM Systems from $450.00 to $465.00 in a research note on Friday, May 6th. TheStreet cut shares of EPAM Systems from a “b” rating to a “c+” rating in a research note on Friday, February 25th. Wolfe Research raised EPAM Systems from a “peer perform” rating to an “outperform” rating and set a $390.00 target price for the company in a research report on Monday, April 11th. Finally, Piper Sandler raised EPAM Systems from a “neutral” rating to an “overweight” rating and lowered their target price for the stock from $359.00 to $348.00 in a research report on Monday, May 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $423.08.
EPAM Systems Profile (Get Rating)
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.
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