Norris Perne & French LLP MI Increases Stock Position in EPAM Systems, Inc. (NYSE:EPAM)

Norris Perne & French LLP MI grew its stake in shares of EPAM Systems, Inc. (NYSE:EPAM) by 28.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 67,316 shares of the information technology services provider’s stock after buying an additional 14,752 shares during the quarter. Norris Perne & French LLP MI’s holdings in EPAM Systems were worth $13,398,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Oak Ridge Investments LLC boosted its position in EPAM Systems by 6.8% during the 3rd quarter. Oak Ridge Investments LLC now owns 13,492 shares of the information technology services provider’s stock worth $2,685,000 after purchasing an additional 855 shares during the period. US Bancorp DE boosted its position in EPAM Systems by 17.4% during the 3rd quarter. US Bancorp DE now owns 9,488 shares of the information technology services provider’s stock worth $1,888,000 after purchasing an additional 1,404 shares during the period. 1620 Investment Advisors Inc. boosted its position in EPAM Systems by 28.4% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 470 shares of the information technology services provider’s stock worth $94,000 after purchasing an additional 104 shares during the period. Diversify Wealth Management LLC purchased a new stake in EPAM Systems during the 3rd quarter worth $627,000. Finally, Diversify Advisory Services LLC purchased a new stake in EPAM Systems during the 3rd quarter worth $254,000. 91.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. StockNews.com upgraded shares of EPAM Systems from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Citigroup boosted their price objective on shares of EPAM Systems from $207.00 to $210.00 and gave the company a “neutral” rating in a research report on Monday. Itau BBA Securities upgraded shares of EPAM Systems from an “underperform” rating to a “market perform” rating in a research report on Friday, August 9th. Susquehanna decreased their price objective on shares of EPAM Systems from $260.00 to $240.00 and set a “positive” rating for the company in a report on Friday, August 9th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $225.00 price objective on shares of EPAM Systems in a report on Tuesday, October 8th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, EPAM Systems currently has an average rating of “Moderate Buy” and a consensus target price of $254.89.

EPAM Systems Stock Performance

EPAM opened at $188.65 on Friday. The company has a quick ratio of 4.84, a current ratio of 4.84 and a debt-to-equity ratio of 0.01. The stock has a market cap of $10.74 billion, a price-to-earnings ratio of 27.03, a PEG ratio of 4.15 and a beta of 1.45. EPAM Systems, Inc. has a 12-month low of $169.43 and a 12-month high of $317.50. The business has a 50 day moving average of $198.22 and a 200-day moving average of $200.13.

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

EPAM Systems announced that its Board of Directors has authorized a stock repurchase program on Thursday, August 8th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to reacquire up to 4.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

EPAM Systems Company 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.