Diversify Advisory Services LLC Makes New Investment in EPAM Systems, Inc. (NYSE:EPAM)

Diversify Advisory Services LLC acquired a new stake in shares of EPAM Systems, Inc. (NYSE:EPAM) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 1,285 shares of the information technology services provider’s stock, valued at approximately $254,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Pacer Advisors Inc. boosted its position in EPAM Systems by 14,325.2% during the 2nd quarter. Pacer Advisors Inc. now owns 657,070 shares of the information technology services provider’s stock worth $123,601,000 after acquiring an additional 652,515 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of EPAM Systems in the second quarter worth $84,850,000. TD Asset Management Inc boosted its holdings in EPAM Systems by 80.0% during the second 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 increased its stake in EPAM Systems by 47,294.2% in the 2nd quarter. Acadian Asset Management LLC now owns 189,103 shares of the information technology services provider’s stock valued at $35,560,000 after buying an additional 188,704 shares during the last quarter. Finally, Epoch Investment Partners Inc. increased its stake in EPAM Systems by 97.7% in the 2nd quarter. Epoch Investment Partners Inc. now owns 338,667 shares of the information technology services provider’s stock valued at $63,707,000 after buying an additional 167,343 shares during the last quarter. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on EPAM. Piper Sandler reiterated an “overweight” rating and set a $225.00 target price on shares of EPAM Systems in a report on Tuesday, October 8th. JPMorgan Chase & Co. upped their price objective on EPAM Systems from $222.00 to $262.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. StockNews.com raised shares of EPAM Systems from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Barclays upped their price target on shares of EPAM Systems from $200.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Finally, Jefferies Financial Group lifted their price objective on shares of EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $254.89.

EPAM Systems Price Performance

EPAM Systems stock opened at $189.13 on Friday. EPAM Systems, Inc. has a 52 week low of $169.43 and a 52 week high of $317.50. The company’s 50 day moving average price is $198.06 and its two-hundred day moving average price is $200.05. The stock has a market cap of $10.77 billion, a P/E ratio of 27.10, a P/E/G ratio of 4.15 and a beta of 1.45. The company has a quick ratio of 4.84, a current ratio of 4.84 and a debt-to-equity ratio of 0.01.

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, beating the consensus estimate of $2.26 by $0.19. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. EPAM Systems had a return on equity of 14.31% and a net margin of 8.86%. The business’s revenue was down 2.0% compared to the same quarter last year. During the same period last year, the firm posted $2.21 EPS. On average, equities analysts predict that EPAM Systems, Inc. will post 8.08 earnings per share for the current year.

EPAM Systems announced that its Board of Directors has approved a share buyback plan on Thursday, August 8th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the information technology services provider to purchase up to 4.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

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.