Jupiter Asset Management Ltd. Makes New $4.07 Million Investment in EPAM Systems, Inc. (NYSE:EPAM)

Jupiter Asset Management Ltd. bought a new position in EPAM Systems, Inc. (NYSE:EPAM) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 18,104 shares of the information technology services provider’s stock, valued at approximately $4,065,000.

Other large investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its holdings in EPAM Systems by 304.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 68,741 shares of the information technology services provider’s stock worth $15,450,000 after purchasing an additional 51,744 shares in the last quarter. MBM Wealth Consultants LLC increased its holdings in shares of EPAM Systems by 41.7% during the second quarter. MBM Wealth Consultants LLC now owns 2,190 shares of the information technology services provider’s stock valued at $511,000 after acquiring an additional 645 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. increased its holdings in shares of EPAM Systems by 21.8% during the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 1,780 shares of the information technology services provider’s stock valued at $532,000 after acquiring an additional 318 shares in the last quarter. Handelsbanken Fonder AB increased its holdings in shares of EPAM Systems by 52.7% during the second quarter. Handelsbanken Fonder AB now owns 10,481 shares of the information technology services provider’s stock valued at $2,356,000 after acquiring an additional 3,615 shares in the last quarter. Finally, Resources Investment Advisors LLC. acquired a new position in shares of EPAM Systems during the first quarter valued at about $244,000. 90.88% of the stock is currently owned by institutional investors.

EPAM Systems Trading Up 0.9 %

EPAM Systems stock opened at $258.24 on Friday. The company has a current ratio of 4.77, a quick ratio of 4.77 and a debt-to-equity ratio of 0.01. EPAM Systems, Inc. has a 12 month low of $197.99 and a 12 month high of $385.96. The stock’s 50 day simple moving average is $244.09 and its two-hundred day simple moving average is $240.59. The firm has a market cap of $14.90 billion, a PE ratio of 32.20, a P/E/G ratio of 6.16 and a beta of 1.46.

EPAM Systems (NYSE:EPAM) last released its quarterly earnings data on Thursday, November 2nd. The information technology services provider reported $2.73 EPS for the quarter, topping the consensus estimate of $2.56 by $0.17. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.15 billion. EPAM Systems had a return on equity of 16.98% and a net margin of 9.96%. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.65 EPS. Analysts anticipate that EPAM Systems, Inc. will post 8.44 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on EPAM shares. JPMorgan Chase & Co. upped their price objective on shares of EPAM Systems from $272.00 to $319.00 and gave the company an “overweight” rating in a report on Tuesday, August 22nd. StockNews.com began coverage on shares of EPAM Systems in a report on Thursday, October 5th. They set a “hold” rating on the stock. Citigroup upped their target price on EPAM Systems from $240.00 to $270.00 and gave the company a “neutral” rating in a research report on Friday, August 4th. Piper Sandler upgraded EPAM Systems from a “neutral” rating to an “overweight” rating and upped their target price for the company from $243.00 to $265.00 in a research report on Friday, November 3rd. Finally, Scotiabank began coverage on EPAM Systems in a research report on Wednesday, August 23rd. They issued a “sector perform” rating and a $265.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, EPAM Systems currently has a consensus rating of “Hold” and a consensus price target of $287.42.

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, and maintenance with private, public, and infrastructure management for application, database, network, server, storage, and systems operations management, as well as monitoring, incident notification, and resolution services; and maintenance and support services.