EPAM Systems, Inc. (NYSE:EPAM) Holdings Lowered by D.B. Root & Company LLC

D.B. Root & Company LLC cut its stake in EPAM Systems, Inc. (NYSE:EPAM) by 37.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,066 shares of the information technology services provider’s stock after selling 645 shares during the period. D.B. Root & Company LLC’s holdings in EPAM Systems were worth $212,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. ORG Partners LLC raised its stake in shares of EPAM Systems by 5,000.0% in the 2nd quarter. ORG Partners LLC now owns 153 shares of the information technology services provider’s stock worth $28,000 after buying an additional 150 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in EPAM Systems in the second quarter worth about $29,000. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in EPAM Systems by 181.8% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 155 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 100 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of EPAM Systems by 101.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 211 shares of the information technology services provider’s stock worth $42,000 after purchasing an additional 106 shares during the last quarter. Finally, Sentry Investment Management LLC bought a new stake in shares of EPAM Systems in the 3rd quarter worth approximately $52,000. Institutional investors and hedge funds own 91.58% of the company’s stock.

EPAM Systems Stock Performance

Shares of NYSE EPAM opened at $232.96 on Friday. The firm has a market capitalization of $13.26 billion, a price-to-earnings ratio of 33.38, a PEG ratio of 4.16 and a beta of 1.46. EPAM Systems, Inc. has a one year low of $169.43 and a one year high of $317.50. The business has a fifty day simple moving average of $198.28 and a 200 day simple moving average of $198.37. The company has a current ratio of 4.84, a quick ratio of 4.84 and a debt-to-equity ratio of 0.01.

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

EPAM Systems announced that its Board of Directors has authorized a share repurchase 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 repurchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on EPAM shares. JPMorgan Chase & Co. raised their target price on shares of EPAM Systems from $222.00 to $262.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Citigroup lifted their target price on shares of EPAM Systems from $207.00 to $210.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Jefferies Financial Group upped their price target on shares of EPAM Systems from $237.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Itau BBA Securities upgraded EPAM Systems from an “underperform” rating to a “market perform” rating in a research note on Friday, August 9th. Finally, Piper Sandler raised their price target on EPAM Systems from $225.00 to $258.00 and gave the stock an “overweight” rating in a research note on Thursday. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, EPAM Systems has an average rating of “Hold” and an average target price of $256.63.

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.