Boston Private Wealth LLC Makes New Investment in EPAM Systems, Inc. (NYSE:EPAM)

Boston Private Wealth LLC bought a new position in EPAM Systems, Inc. (NYSE:EPAM) during the third quarter, according to its most recent 13F filing with the SEC. The fund bought 358 shares of the information technology services provider’s stock, valued at approximately $204,000.

Several other hedge funds and other institutional investors have also made changes to their positions in EPAM. Vanguard Group Inc. lifted its holdings in shares of EPAM Systems by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 5,091,704 shares of the information technology services provider’s stock valued at $2,601,658,000 after acquiring an additional 19,351 shares during the last quarter. BlackRock Inc. raised its position in EPAM Systems by 2.5% during the second quarter. BlackRock Inc. now owns 3,485,495 shares of the information technology services provider’s stock valued at $1,780,950,000 after purchasing an additional 84,466 shares during the period. State Street Corp lifted its stake in shares of EPAM Systems by 12.9% in the 2nd quarter. State Street Corp now owns 1,251,452 shares of the information technology services provider’s stock valued at $639,442,000 after purchasing an additional 143,407 shares during the last quarter. UBS Asset Management Americas Inc. boosted its holdings in shares of EPAM Systems by 8.9% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 869,935 shares of the information technology services provider’s stock worth $444,502,000 after purchasing an additional 71,015 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of EPAM Systems by 8.8% during the 2nd quarter. Geode Capital Management LLC now owns 684,720 shares of the information technology services provider’s stock valued at $349,328,000 after purchasing an additional 55,206 shares during the last quarter. Hedge funds and other institutional investors own 89.98% of the company’s stock.

Several research analysts have commented on the stock. VTB Capital raised shares of EPAM Systems from a “hold” rating to a “buy” rating and set a $750.00 price objective for the company in a research note on Tuesday, November 23rd. Zacks Investment Research lowered shares of EPAM Systems from a “buy” rating to a “hold” rating and set a $607.00 target price for the company. in a report on Wednesday, October 6th. Finally, Piper Sandler upped their price target on shares of EPAM Systems from $689.00 to $824.00 and gave the company an “overweight” rating in a report on Thursday, November 4th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, EPAM Systems currently has a consensus rating of “Buy” and a consensus target price of $645.11.

Shares of EPAM opened at $543.06 on Friday. The firm has a market capitalization of $30.80 billion, a price-to-earnings ratio of 75.32, a PEG ratio of 1.99 and a beta of 1.44. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.31 and a quick ratio of 3.31. EPAM Systems, Inc. has a 1-year low of $333.68 and a 1-year high of $725.40. The company has a 50-day moving average of $636.62 and a 200 day moving average of $611.60.

EPAM Systems (NYSE:EPAM) last issued its earnings results on Thursday, November 4th. The information technology services provider reported $2.42 EPS for the quarter, topping the Zacks’ consensus estimate of $2.22 by $0.20. EPAM Systems had a net margin of 12.59% and a return on equity of 19.79%. The business had revenue of $988.50 million for the quarter, compared to analyst estimates of $964.12 million. During the same period last year, the company posted $1.41 earnings per share. The company’s quarterly revenue was up 51.6% compared to the same quarter last year. On average, equities analysts anticipate that EPAM Systems, Inc. will post 7.35 earnings per share for the current fiscal year.

In other EPAM Systems news, VP Gary C. Abrahams sold 157 shares of the firm’s stock in a transaction dated Thursday, December 9th. The shares were sold at an average price of $702.92, for a total transaction of $110,358.44. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ronald P. Vargo sold 850 shares of the company’s stock in a transaction that occurred on Thursday, December 2nd. The stock was sold at an average price of $611.03, for a total transaction of $519,375.50. The disclosure for this sale can be found here. Insiders have sold a total of 83,011 shares of company stock worth $56,859,180 over the last 90 days. 4.80% of the stock is currently owned by company insiders.

EPAM Systems Profile

EPAM Systems, Inc engages in the provision of software product development and digital platform engineering services. It operates through the following geographical segments: North America, Europe, and Russia. The company was founded by Leonid Lozner and Arkadiy Dobkin in 1993 and is headquartered in Newtown, PA.

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Institutional Ownership by Quarter for EPAM Systems (NYSE:EPAM)

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