Raymond James & Associates Increases Stake in EPAM Systems, Inc. (NYSE:EPAM)

Raymond James & Associates increased its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM – Get Rating) by 6.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,371 shares of the information technology services provider’s stock after purchasing an additional 893 shares during the quarter. Raymond James & Associates’ holdings in EPAM Systems were worth $5,038,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in shares of EPAM Systems by 3.6% in the third quarter. Brighton Jones LLC now owns 942 shares of the information technology services provider’s stock valued at $341,000 after acquiring an additional 33 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of EPAM Systems by 0.8% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,437 shares of the information technology services provider’s stock worth $1,454,000 after acquiring an additional 36 shares in the last quarter. Utah Retirement Systems grew its position in shares of EPAM Systems by 0.4% in the 3rd quarter. Utah Retirement Systems now owns 9,827 shares of the information technology services provider’s stock worth $3,559,000 after acquiring an additional 39 shares in the last quarter. Connable Office Inc. grew its position in shares of EPAM Systems by 1.3% in the 4th quarter. Connable Office Inc. now owns 3,054 shares of the information technology services provider’s stock worth $1,001,000 after acquiring an additional 39 shares in the last quarter. Finally, Semmax Financial Advisors Inc. grew its position in shares of EPAM Systems by 84.3% in the 3rd quarter. Semmax Financial Advisors Inc. now owns 94 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 92.29% of the company’s stock.

EPAM Systems Stock Up 6.5 %

Shares of NYSE:EPAM opened at $263.67 on Tuesday. The company has a fifty day moving average of $273.04 and a 200-day moving average of $314.25. The company has a market capitalization of $15.27 billion, a PE ratio of 36.17, a price-to-earnings-growth ratio of 2.37 and a beta of 1.56. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.15 and a current ratio of 4.15. EPAM Systems, Inc. has a 52-week low of $223.65 and a 52-week high of $462.99.

Analyst Upgrades and Downgrades

EPAM has been the topic of several recent analyst reports. Stifel Nicolaus cut their target price on EPAM Systems from $407.00 to $350.00 in a research note on Tuesday, May 2nd. Piper Sandler restated an “overweight” rating and issued a $391.00 target price on shares of EPAM Systems in a report on Tuesday, February 28th. Barclays lowered their price target on EPAM Systems from $380.00 to $310.00 in a report on Sunday, May 7th. Cowen cut EPAM Systems from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $390.00 to $370.00 in a research report on Friday, February 17th. Finally, StockNews.com began coverage on EPAM Systems in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $386.15.

EPAM Systems Profile

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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.