abrdn plc Boosts Stake in EPAM Systems, Inc. (NYSE:EPAM)

abrdn plc increased its stake in shares of EPAM Systems, Inc. (NYSE:EPAM) by 70.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 27,855 shares of the information technology services provider’s stock after purchasing an additional 11,549 shares during the period. abrdn plc’s holdings in EPAM Systems were worth $8,282,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. VisionPoint Advisory Group LLC boosted its position in shares of EPAM Systems by 103.0% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 136 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 69 shares during the period. Lindbrook Capital LLC boosted its position in EPAM Systems by 123.3% in the 3rd quarter. Lindbrook Capital LLC now owns 163 shares of the information technology services provider’s stock valued at $42,000 after buying an additional 90 shares during the period. Compagnie Lombard Odier SCmA purchased a new position in EPAM Systems in the 3rd quarter valued at approximately $45,000. NBC Securities Inc. purchased a new position in EPAM Systems in the 3rd quarter valued at approximately $46,000. Finally, Exchange Traded Concepts LLC boosted its position in EPAM Systems by 46.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 214 shares of the information technology services provider’s stock valued at $55,000 after buying an additional 68 shares during the period. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on EPAM. JPMorgan Chase & Co. raised their price target on shares of EPAM Systems from $315.00 to $334.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. Barclays decreased their price objective on shares of EPAM Systems from $315.00 to $265.00 and set an “equal weight” rating for the company in a research report on Friday. Scotiabank raised shares of EPAM Systems from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the stock from $265.00 to $350.00 in a research report on Friday, February 16th. Susquehanna lifted their price objective on shares of EPAM Systems from $300.00 to $360.00 and gave the stock a “positive” rating in a research report on Friday, February 16th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $369.00 price objective on shares of EPAM Systems in a research report on Monday, March 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, EPAM Systems has an average rating of “Moderate Buy” and an average price target of $323.93.

EPAM Systems Price Performance

Shares of NYSE:EPAM opened at $237.75 on Friday. The company’s fifty day moving average price is $282.43 and its 200 day moving average price is $273.43. EPAM Systems, Inc. has a 12 month low of $197.99 and a 12 month high of $317.50. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.79 and a quick ratio of 4.79. The firm has a market capitalization of $13.79 billion, a P/E ratio of 33.63, a P/E/G ratio of 10.69 and a beta of 1.43.

EPAM Systems (NYSE:EPAM) last posted its quarterly earnings data on Thursday, February 15th. The information technology services provider reported $2.75 EPS for the quarter, beating analysts’ consensus estimates of $2.51 by $0.24. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.14 billion. EPAM Systems had a net margin of 8.89% and a return on equity of 15.53%. EPAM Systems’s quarterly revenue was down 6.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.71 earnings per share. As a group, sell-side analysts predict that EPAM Systems, Inc. will post 7.72 earnings per share for the current fiscal year.

Insider Buying and Selling at EPAM Systems

In other EPAM Systems news, SVP Lawrence F. Solomon sold 5,350 shares of EPAM Systems stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $306.00, for a total value of $1,637,100.00. Following the transaction, the senior vice president now directly owns 12,117 shares in the company, valued at $3,707,802. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Lawrence F. Solomon sold 5,350 shares of EPAM Systems stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $306.00, for a total value of $1,637,100.00. Following the sale, the senior vice president now owns 12,117 shares of the company’s stock, valued at $3,707,802. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Sergey Yezhkov sold 8,000 shares of EPAM Systems stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $302.04, for a total transaction of $2,416,320.00. Following the completion of the sale, the senior vice president now directly owns 12,770 shares in the company, valued at approximately $3,857,050.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,820 shares of company stock worth $5,101,117. 4.30% of the stock is owned by company insiders.

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.