State of Alaska Department of Revenue Lowers Holdings in EPAM Systems, Inc. (NYSE:EPAM)

State of Alaska Department of Revenue reduced its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 27.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,991 shares of the information technology services provider’s stock after selling 3,700 shares during the quarter. State of Alaska Department of Revenue’s holdings in EPAM Systems were worth $1,987,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

EPAM has been the topic of several recent analyst reports. Citigroup increased their price objective on EPAM Systems from $207.00 to $210.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Susquehanna reduced their price target on shares of EPAM Systems from $260.00 to $240.00 and set a “positive” rating for the company in a research note on Friday, August 9th. StockNews.com raised shares of EPAM Systems from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Deutsche Bank Aktiengesellschaft started coverage on shares of EPAM Systems in a report on Thursday, August 22nd. They issued a “hold” rating and a $204.00 target price on the stock. Finally, Jefferies Financial Group lifted their target price on shares of EPAM Systems from $237.00 to $250.00 and gave the stock 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 stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $254.89.

EPAM Systems Price Performance

NYSE EPAM opened at $189.13 on Friday. 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, Inc. has a 12 month low of $169.43 and a 12 month high of $317.50. The stock has a market cap of $10.77 billion, a price-to-earnings ratio of 27.10, a PEG ratio of 4.15 and a beta of 1.45. The company’s 50 day moving average is $198.06 and its two-hundred day moving average is $200.05.

EPAM Systems (NYSE:EPAM) last released its earnings results on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.19. The company had revenue of $1.15 billion for 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%. EPAM Systems’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.21 EPS. As a group, research analysts anticipate that EPAM Systems, Inc. will post 8.08 earnings per share for the current year.

EPAM Systems announced that its board has initiated a stock repurchase program on Thursday, August 8th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the information technology services provider to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management 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.