Public Employees Retirement Association of Colorado Lowers Stake in EPAM Systems, Inc. (NYSE:EPAM)

Public Employees Retirement Association of Colorado lowered its stake in shares of EPAM Systems, Inc. (NYSE:EPAM) by 6.8% in the first quarter, Holdings Channel reports. The institutional investor owned 6,148 shares of the information technology services provider’s stock after selling 451 shares during the period. Public Employees Retirement Association of Colorado’s holdings in EPAM Systems were worth $1,698,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of EPAM Systems during the 4th quarter valued at $25,000. Riverview Trust Co purchased a new stake in shares of EPAM Systems during the 1st quarter valued at $29,000. Principal Securities Inc. purchased a new stake in shares of EPAM Systems during the 4th quarter valued at $43,000. Westpac Banking Corp lifted its holdings in shares of EPAM Systems by 151.4% during the 4th quarter. Westpac Banking Corp now owns 176 shares of the information technology services provider’s stock valued at $52,000 after purchasing an additional 106 shares during the last quarter. Finally, Whittier Trust Co. purchased a new stake in shares of EPAM Systems during the 1st quarter valued at $64,000. Hedge funds and other institutional investors own 91.58% of the company’s stock.

EPAM Systems Price Performance

Shares of NYSE:EPAM opened at $210.04 on Tuesday. The company has a 50-day simple moving average of $187.28 and a 200-day simple moving average of $242.51. EPAM Systems, Inc. has a one year low of $169.43 and a one year high of $317.50. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.68 and a current ratio of 4.68. The stock has a market capitalization of $12.18 billion, a price-to-earnings ratio of 28.73, a PEG ratio of 4.88 and a beta of 1.45.

EPAM Systems (NYSE:EPAM) last announced its earnings results on Thursday, May 9th. The information technology services provider reported $1.86 EPS for the quarter, beating 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 business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. On average, analysts predict that EPAM Systems, Inc. will post 7.81 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Barclays raised their target price on EPAM Systems from $200.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Scotiabank downgraded EPAM Systems from a “sector outperform” rating to a “sector perform” rating and cut their price target for the stock from $300.00 to $245.00 in a research report on Friday, May 10th. Mizuho cut their price target on EPAM Systems from $345.00 to $258.00 and set a “buy” rating on the stock in a research report on Tuesday, May 14th. JPMorgan Chase & Co. cut 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, Needham & Company LLC dropped their target price on EPAM Systems from $350.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $270.28.

EPAM Systems Company 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, performance tuning, deployment, maintenance, and support services.