1,352 Shares in EPAM Systems, Inc. (NYSE:EPAM) Bought by Meeder Asset Management Inc.

Meeder Asset Management Inc. purchased a new stake in EPAM Systems, Inc. (NYSE:EPAM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,352 shares of the information technology services provider’s stock, valued at approximately $254,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of EPAM. 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 worth $141,627,000 after acquiring an additional 375,439 shares in the last quarter. Intech Investment Management LLC acquired a new position in EPAM Systems in the fourth quarter valued at about $285,000. Duality Advisers LP increased its holdings in shares of EPAM Systems by 60.7% during the first quarter. Duality Advisers LP now owns 10,754 shares of the information technology services provider’s stock worth $2,970,000 after buying an additional 4,061 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in shares of EPAM Systems by 12.7% during the fourth quarter. Allianz Asset Management GmbH now owns 60,126 shares of the information technology services provider’s stock worth $17,878,000 after buying an additional 6,798 shares in the last quarter. Finally, Diversified Trust Co acquired a new stake in shares of EPAM Systems during the second quarter worth approximately $734,000. Institutional investors own 91.58% of the company’s stock.

EPAM Systems Stock Down 0.3 %

EPAM Systems stock opened at $201.74 on Friday. The firm has a market capitalization of $11.49 billion, a price-to-earnings ratio of 27.60, a PEG ratio of 4.48 and a beta of 1.45. The company’s 50 day simple moving average is $201.88 and its 200 day simple moving average is $221.48. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.84 and a quick ratio of 4.84. EPAM Systems, Inc. has a fifty-two week low of $169.43 and a fifty-two week high of $317.50.

EPAM Systems (NYSE:EPAM) last announced its quarterly earnings results on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.19. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. EPAM Systems had a net margin of 8.86% and a return on equity of 14.31%. The firm’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.21 EPS. As a group, sell-side analysts anticipate that EPAM Systems, Inc. will post 8.06 EPS for the current year.

EPAM Systems announced that its Board of Directors has approved a share repurchase plan on Thursday, August 8th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms recently commented on EPAM. Deutsche Bank Aktiengesellschaft started coverage on EPAM Systems in a research report on Thursday, August 22nd. They set a “hold” rating and a $204.00 price target on the stock. Jefferies Financial Group increased their price objective on shares of EPAM Systems from $237.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Barclays raised their price objective on shares of EPAM Systems from $200.00 to $225.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group initiated coverage on shares of EPAM Systems in a research note on Monday, June 24th. They set a “neutral” rating and a $200.00 price target on the stock. Finally, Redburn Atlantic assumed coverage on shares of EPAM Systems in a report on Friday, May 24th. They issued a “neutral” rating and a $195.00 price target for the company. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, EPAM Systems currently has a consensus rating of “Hold” and an average target price of $258.32.

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.