EPAM Systems, Inc. (NYSE:EPAM) Position Reduced by DNB Asset Management AS

DNB Asset Management AS lessened its holdings in EPAM Systems, Inc. (NYSE:EPAM) by 44.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,289 shares of the information technology services provider’s stock after selling 7,477 shares during the period. DNB Asset Management AS’s holdings in EPAM Systems were worth $1,747,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of EPAM Systems in the fourth quarter worth about $25,000. Riverview Trust Co bought a new stake in shares of EPAM Systems in the 1st quarter valued at approximately $29,000. Principal Securities Inc. bought a new position in shares of EPAM Systems during the fourth quarter valued at $43,000. Westpac Banking Corp boosted its position in EPAM Systems by 151.4% in the fourth quarter. Westpac Banking Corp now owns 176 shares of the information technology services provider’s stock valued at $52,000 after buying an additional 106 shares in the last quarter. Finally, Whittier Trust Co. acquired a new stake in 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 Stock Performance

EPAM Systems stock opened at $212.15 on Wednesday. The firm has a fifty day simple moving average of $190.42 and a two-hundred day simple moving average of $238.65. 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, Inc. has a twelve month low of $169.43 and a twelve month high of $317.50. The company has a market capitalization of $12.30 billion, a PE ratio of 28.27, a P/E/G ratio of 4.97 and a beta of 1.45.

EPAM Systems (NYSE:EPAM) last issued its earnings results on Thursday, May 9th. The information technology services provider reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.09. EPAM Systems had a return on equity of 14.95% and a net margin of 9.28%. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Research analysts expect that EPAM Systems, Inc. will post 7.81 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. TD Cowen lowered their price objective on EPAM Systems from $282.00 to $203.00 and set a “hold” rating for the company in a research report on Friday, May 10th. JPMorgan Chase & Co. cut their target price on EPAM Systems from $331.00 to $311.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. Piper Sandler dropped their price objective on EPAM Systems from $252.00 to $230.00 and set an “overweight” rating on the stock in a research note on Thursday, June 13th. Needham & Company LLC decreased their price objective on shares of EPAM Systems from $350.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Finally, Wedbush restated an “outperform” rating and issued a $340.00 price target on shares of EPAM Systems in a research note on Wednesday, April 10th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $270.28.

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, performance tuning, deployment, maintenance, and support services.