Van ECK Associates Corp Boosts Stake in EPAM Systems, Inc. (NYSE:EPAM)

Van ECK Associates Corp increased its stake in EPAM Systems, Inc. (NYSE:EPAM) by 7.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,328 shares of the information technology services provider’s stock after purchasing an additional 553 shares during the quarter. Van ECK Associates Corp’s holdings in EPAM Systems were worth $2,476,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of EPAM. VisionPoint Advisory Group LLC raised its stake in shares of EPAM Systems by 103.0% in the third quarter. VisionPoint Advisory Group LLC now owns 136 shares of the information technology services provider’s stock worth $35,000 after buying an additional 69 shares during the period. Lindbrook Capital LLC lifted its holdings in EPAM Systems by 123.3% during the third quarter. Lindbrook Capital LLC now owns 163 shares of the information technology services provider’s stock valued at $42,000 after purchasing an additional 90 shares in the last quarter. NBC Securities Inc. bought a new position in shares of EPAM Systems in the third quarter worth approximately $46,000. Mendota Financial Group LLC purchased a new stake in shares of EPAM Systems in the fourth quarter worth $117,000. Finally, GAMMA Investing LLC bought a new stake in shares of EPAM Systems during the 4th quarter valued at $120,000. Institutional investors own 91.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Barclays cut their price target on EPAM Systems from $315.00 to $265.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Piper Sandler decreased their price target on EPAM Systems from $369.00 to $317.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Needham & Company LLC raised their price target on EPAM Systems from $295.00 to $350.00 and gave the company a “buy” rating in a report on Thursday, February 15th. Guggenheim started coverage on EPAM Systems in a report on Tuesday, March 19th. They set a “buy” rating and a $350.00 price target on the stock. Finally, Jefferies Financial Group reissued a “hold” rating and set a $295.00 price target on shares of EPAM Systems in a report on Thursday, January 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, EPAM Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $315.60.

EPAM Systems Trading Up 1.4 %

EPAM opened at $249.72 on Wednesday. The stock has a 50-day moving average of $272.17 and a 200 day moving average of $273.96. The company has a current ratio of 4.79, a quick ratio of 4.79 and a debt-to-equity ratio of 0.01. EPAM Systems, Inc. has a 12 month low of $197.99 and a 12 month high of $317.50. The firm has a market cap of $14.48 billion, a P/E ratio of 35.32, a P/E/G ratio of 10.58 and a beta of 1.46.

EPAM Systems (NYSE:EPAM) last posted its quarterly earnings data on Thursday, February 15th. The information technology services provider reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.51 by $0.24. EPAM Systems had a return on equity of 15.53% and a net margin of 8.89%. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the company earned $2.71 EPS. The company’s revenue for the quarter was down 6.0% on a year-over-year basis. As a group, research analysts forecast that EPAM Systems, Inc. will post 7.7 EPS for the current year.

Insider Activity at EPAM Systems

In other EPAM Systems news, SVP Lawrence F. Solomon sold 5,350 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $306.00, for a total value of $1,637,100.00. Following the completion of the sale, the senior vice president now directly owns 12,117 shares in the company, valued at approximately $3,707,802. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, SVP Lawrence F. Solomon sold 5,350 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 12,117 shares of the company’s stock, valued at approximately $3,707,802. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Sergey Yezhkov sold 8,000 shares of EPAM Systems stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 12,770 shares in the company, valued at $3,857,050.80. The disclosure for this sale can be found here. Insiders sold a total of 16,820 shares of company stock worth $5,101,117 in the last quarter. 4.30% of the stock is owned by company insiders.

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.