Lindbrook Capital LLC Acquires 1,026 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Lindbrook Capital LLC grew its holdings in EPAM Systems, Inc. (NYSE:EPAM) by 862.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,145 shares of the information technology services provider’s stock after purchasing an additional 1,026 shares during the quarter. Lindbrook Capital LLC’s holdings in EPAM Systems were worth $228,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Pacer Advisors Inc. raised its stake in EPAM Systems by 14,325.2% in the second quarter. Pacer Advisors Inc. now owns 657,070 shares of the information technology services provider’s stock worth $123,601,000 after buying an additional 652,515 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in shares of EPAM Systems in the 2nd quarter worth $84,850,000. TD Asset Management Inc lifted its stake in shares of 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 worth $112,017,000 after purchasing an additional 264,570 shares during the last quarter. Acadian Asset Management LLC boosted its position in EPAM Systems by 47,294.2% during the second quarter. Acadian Asset Management LLC now owns 189,103 shares of the information technology services provider’s stock valued at $35,560,000 after purchasing an additional 188,704 shares in the last quarter. Finally, Epoch Investment Partners Inc. grew its stake in EPAM Systems by 97.7% in the second quarter. Epoch Investment Partners Inc. now owns 338,667 shares of the information technology services provider’s stock valued at $63,707,000 after purchasing an additional 167,343 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

EPAM Systems Stock Up 0.2 %

NYSE:EPAM opened at $233.45 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.84 and a quick ratio of 4.84. The company’s fifty day moving average price is $198.94 and its 200-day moving average price is $197.60. EPAM Systems, Inc. has a 1-year low of $169.43 and a 1-year high of $317.50. The firm has a market capitalization of $13.29 billion, a P/E ratio of 33.45, a PEG ratio of 4.45 and a beta of 1.46.

EPAM Systems (NYSE:EPAM) last announced its quarterly earnings results on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.19. EPAM Systems had a return on equity of 14.31% and a net margin of 8.86%. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period last year, the firm earned $2.21 EPS. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, equities research analysts anticipate that EPAM Systems, Inc. will post 8.08 EPS for the current year.

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

Analyst Upgrades and Downgrades

Several analysts have commented on EPAM shares. Needham & Company LLC increased their price target on shares of EPAM Systems from $215.00 to $265.00 and gave the company a “buy” rating in a research report on Friday. Citigroup raised 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. StockNews.com lowered shares of EPAM Systems from a “buy” rating to a “hold” rating in a report on Thursday. Itau BBA Securities upgraded EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 price objective for the company in a report on Friday. Finally, Piper Sandler boosted their target price on EPAM Systems from $225.00 to $258.00 and gave the stock an “overweight” rating in a research note on Thursday. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $261.50.

About EPAM Systems

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.