EPAM Systems, Inc. (NYSE:EPAM) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its position in EPAM Systems, Inc. (NYSE:EPAM) by 6.4% in the 1st quarter, Holdings Channel reports. The fund owned 50,867 shares of the information technology services provider’s stock after selling 3,500 shares during the period. New York State Teachers Retirement System’s holdings in EPAM Systems were worth $8,588,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its stake in shares of EPAM Systems by 90.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 54 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of EPAM Systems by 2,500.0% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 130 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 125 shares during the period. Sentry Investment Management LLC acquired a new stake in shares of EPAM Systems in the 1st quarter worth $33,000. TD Private Client Wealth LLC lifted its stake in shares of EPAM Systems by 88.5% in the 4th quarter. TD Private Client Wealth LLC now owns 147 shares of the information technology services provider’s stock worth $34,000 after acquiring an additional 69 shares during the period. Finally, CX Institutional acquired a new stake in shares of EPAM Systems in the 1st quarter worth $42,000. Institutional investors and hedge funds own 91.58% of the company’s stock.

EPAM Systems Stock Performance

Shares of EPAM opened at $182.71 on Friday. The company has a current ratio of 3.06, a quick ratio of 3.06 and a debt-to-equity ratio of 0.01. The stock has a market cap of $10.35 billion, a P/E ratio of 25.55, a PEG ratio of 2.44 and a beta of 1.70. The company has a 50-day moving average of $173.82 and a two-hundred day moving average of $196.43. EPAM Systems, Inc. has a 12-month low of $138.15 and a 12-month high of $269.00.

EPAM Systems (NYSE:EPAM) last announced its earnings results on Thursday, May 8th. The information technology services provider reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.14. The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.28 billion. EPAM Systems had a net margin of 8.47% and a return on equity of 14.15%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.46 earnings per share. As a group, research analysts predict that EPAM Systems, Inc. will post 8.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Barclays raised their target price on shares of EPAM Systems from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Monday, May 12th. Susquehanna reduced their price objective on shares of EPAM Systems from $270.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday, April 23rd. Wall Street Zen cut shares of EPAM Systems from a “buy” rating to a “hold” rating in a research note on Saturday, April 12th. Piper Sandler raised their price objective on shares of EPAM Systems from $170.00 to $194.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. Finally, Needham & Company LLC raised their price objective on shares of EPAM Systems from $185.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $233.93.

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.