Oak Thistle LLC Invests $586,000 in EPAM Systems, Inc. (NYSE:EPAM)

Oak Thistle LLC bought a new position in EPAM Systems, Inc. (NYSE:EPAM) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,123 shares of the information technology services provider’s stock, valued at approximately $586,000.

Several other hedge funds have also recently modified their holdings of the stock. Capital Research Global Investors lifted its holdings in shares of EPAM Systems by 0.7% in the fourth quarter. Capital Research Global Investors now owns 7,698,930 shares of the information technology services provider’s stock worth $2,289,207,000 after buying an additional 51,228 shares in the last quarter. Vanguard Group Inc. raised its stake in EPAM Systems by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 6,825,592 shares of the information technology services provider’s stock valued at $2,029,522,000 after purchasing an additional 34,575 shares in the last quarter. Lone Pine Capital LLC raised its stake in EPAM Systems by 9.2% during the third quarter. Lone Pine Capital LLC now owns 1,054,229 shares of the information technology services provider’s stock valued at $269,556,000 after purchasing an additional 88,641 shares in the last quarter. Norges Bank purchased a new stake in EPAM Systems during the fourth quarter valued at $184,713,000. Finally, Price T Rowe Associates Inc. MD raised its stake in EPAM Systems by 372.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 476,311 shares of the information technology services provider’s stock valued at $141,627,000 after purchasing an additional 375,439 shares in the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on EPAM. Piper Sandler decreased their price target on shares of EPAM Systems from $252.00 to $230.00 and set an “overweight” rating on the stock in a research note on Thursday, June 13th. Redburn Atlantic assumed coverage on shares of EPAM Systems in a research report on Friday, May 24th. They set a “neutral” rating and a $195.00 price objective on the stock. Morgan Stanley upgraded shares of EPAM Systems from an “underweight” rating to an “equal weight” rating and cut their price objective for the company from $236.00 to $225.00 in a research report on Friday, April 26th. The Goldman Sachs Group assumed coverage on shares of EPAM Systems in a research report on Monday, June 24th. They set a “neutral” rating and a $200.00 price objective on the stock. Finally, TD Cowen cut their price objective on shares of EPAM Systems from $282.00 to $203.00 and set a “hold” rating on the stock in a research report on Friday, May 10th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, EPAM Systems presently has a consensus rating of “Hold” and an average price target of $272.11.

EPAM Systems Stock Down 1.3 %

NYSE:EPAM traded down $2.49 during mid-day trading on Monday, reaching $185.62. The company’s stock had a trading volume of 353,941 shares, compared to its average volume of 650,164. EPAM Systems, Inc. has a 1 year low of $169.43 and a 1 year high of $317.50. The stock has a fifty day moving average of $195.96 and a 200-day moving average of $256.18. The firm has a market capitalization of $10.76 billion, a PE ratio of 25.39, a price-to-earnings-growth ratio of 4.35 and a beta of 1.45. The company has a quick ratio of 4.68, a current ratio of 4.68 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAM) last released its quarterly earnings data on Thursday, May 9th. The information technology services provider reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.09. EPAM Systems had a net margin of 9.28% and a return on equity of 14.95%. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.16 billion. Equities research analysts forecast that EPAM Systems, Inc. will post 7.8 earnings per share for the current year.

About EPAM Systems

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.