Capital World Investors Has $292.40 Million Stock Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Capital World Investors reduced its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM) by 32.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,058,804 shares of the information technology services provider’s stock after selling 515,850 shares during the quarter. Capital World Investors owned approximately 1.83% of EPAM Systems worth $292,399,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EPAM. Flossbach Von Storch AG boosted its holdings in shares of EPAM Systems by 46.7% during the 4th quarter. Flossbach Von Storch AG now owns 11,000 shares of the information technology services provider’s stock worth $3,271,000 after buying an additional 3,500 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of EPAM Systems by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 394,211 shares of the information technology services provider’s stock worth $117,215,000 after purchasing an additional 17,609 shares during the period. Versor Investments LP acquired a new stake in EPAM Systems during the 4th quarter worth approximately $357,000. Price T Rowe Associates Inc. MD boosted its stake in EPAM Systems by 372.2% in the 4th 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 during the period. Finally, Assenagon Asset Management S.A. increased its position in EPAM Systems by 131.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 78,156 shares of the information technology services provider’s stock worth $23,239,000 after buying an additional 44,388 shares during the period. 91.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on EPAM. Scotiabank cut shares of EPAM Systems from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the company from $300.00 to $245.00 in a research report on Friday, May 10th. Barclays increased their price target on EPAM Systems from $200.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Needham & Company LLC dropped their price objective on EPAM Systems from $350.00 to $210.00 and set a “buy” rating for the company in a report on Friday, May 10th. JPMorgan Chase & Co. decreased their price target on EPAM Systems from $331.00 to $311.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Finally, Citigroup cut their price objective on shares of EPAM Systems from $325.00 to $275.00 and set a “neutral” rating for the company in a research report on Monday, April 22nd. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $270.28.

EPAM Systems Price Performance

EPAM traded up $3.91 on Friday, reaching $211.05. The stock had a trading volume of 318,277 shares, compared to its average volume of 600,728. The firm has a 50-day moving average of $186.45 and a 200-day moving average of $244.52. EPAM Systems, Inc. has a fifty-two week low of $169.43 and a fifty-two week high of $317.50. The company has a market capitalization of $12.24 billion, a price-to-earnings ratio of 28.87, a price-to-earnings-growth ratio of 4.79 and a beta of 1.45. The company has a current ratio of 4.68, a quick ratio of 4.68 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAM) last posted its earnings results 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. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. EPAM Systems had a net margin of 9.28% and a return on equity of 14.95%. As a group, sell-side analysts anticipate that EPAM Systems, Inc. will post 7.81 EPS 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.