Jacobs Levy Equity Management Inc. Increases Stake in EPAM Systems, Inc. (NYSE:EPAM)

Jacobs Levy Equity Management Inc. raised its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM) by 66.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 512,817 shares of the information technology services provider’s stock after purchasing an additional 204,319 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in EPAM Systems were worth $119,907,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of EPAM. Norges Bank purchased a new stake in EPAM Systems during the 4th quarter valued at about $173,053,000. William Blair Investment Management LLC acquired a new position in shares of EPAM Systems during the 4th quarter worth approximately $166,906,000. Ameriprise Financial Inc. grew its position in shares of EPAM Systems by 39.8% in the fourth quarter. Ameriprise Financial Inc. now owns 2,181,143 shares of the information technology services provider’s stock valued at $510,053,000 after purchasing an additional 620,551 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of EPAM Systems by 126.4% in the fourth quarter. Marshall Wace LLP now owns 769,584 shares of the information technology services provider’s stock valued at $179,944,000 after purchasing an additional 429,644 shares during the last quarter. Finally, Capital World Investors lifted its position in EPAM Systems by 22.0% during the fourth quarter. Capital World Investors now owns 2,304,243 shares of the information technology services provider’s stock worth $538,778,000 after buying an additional 414,942 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors and hedge funds.

EPAM Systems Stock Down 1.6 %

Shares of NYSE:EPAM opened at $176.87 on Friday. The firm’s 50-day moving average is $165.80 and its two-hundred day moving average is $211.04. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.96 and a quick ratio of 4.56. EPAM Systems, Inc. has a 1 year low of $138.15 and a 1 year high of $269.00. The firm has a market capitalization of $10.09 billion, a PE ratio of 22.56, a price-to-earnings-growth ratio of 3.38 and a beta of 1.71.

EPAM Systems (NYSE:EPAM) last released its earnings results on Thursday, May 8th. The information technology services provider reported $2.41 EPS for the quarter, topping the consensus estimate of $2.27 by $0.14. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.28 billion. EPAM Systems had a return on equity of 14.60% and a net margin of 9.61%. EPAM Systems’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.46 EPS. Analysts predict that EPAM Systems, Inc. will post 8.9 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on EPAM shares. Susquehanna dropped their target price on EPAM Systems from $270.00 to $210.00 and set a “positive” rating for the company in a report on Wednesday, April 23rd. StockNews.com lowered shares of EPAM Systems from a “buy” rating to a “hold” rating in a report on Saturday, April 12th. Needham & Company LLC lifted their target price on shares of EPAM Systems from $185.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday. Guggenheim increased their price target on shares of EPAM Systems from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Friday. Finally, Piper Sandler upped their price objective on EPAM Systems from $170.00 to $194.00 and gave the company a “neutral” rating in a report on Friday. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $230.56.

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.