Handelsbanken Fonder AB Purchases 3,500 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Handelsbanken Fonder AB boosted its position in EPAM Systems, Inc. (NYSE:EPAM) by 25.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,300 shares of the information technology services provider’s stock after acquiring an additional 3,500 shares during the quarter. Handelsbanken Fonder AB’s holdings in EPAM Systems were worth $2,921,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in EPAM. American Century Companies Inc. grew its stake in shares of EPAM Systems by 35.8% during the fourth quarter. American Century Companies Inc. now owns 20,597 shares of the information technology services provider’s stock valued at $4,816,000 after buying an additional 5,435 shares during the last quarter. DnB Asset Management AS grew its stake in shares of EPAM Systems by 26.4% during the fourth quarter. DnB Asset Management AS now owns 11,245 shares of the information technology services provider’s stock valued at $2,629,000 after buying an additional 2,349 shares during the last quarter. Pinebridge Investments L.P. grew its stake in shares of EPAM Systems by 66.6% during the fourth quarter. Pinebridge Investments L.P. now owns 18,953 shares of the information technology services provider’s stock valued at $4,432,000 after buying an additional 7,576 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of EPAM Systems by 8.9% during the fourth quarter. ProShare Advisors LLC now owns 12,164 shares of the information technology services provider’s stock valued at $2,844,000 after buying an additional 998 shares during the last quarter. Finally, Groupama Asset Managment bought a new position in shares of EPAM Systems during the fourth quarter valued at about $1,369,000. Institutional investors own 91.58% of the company’s stock.

EPAM Systems Trading Down 3.1%

NYSE:EPAM opened at $170.44 on Friday. The company has a current ratio of 2.96, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01. EPAM Systems, Inc. has a 12 month low of $138.15 and a 12 month high of $269.00. The company has a market cap of $9.66 billion, a PE ratio of 21.74, a price-to-earnings-growth ratio of 3.38 and a beta of 1.72. The company has a 50 day simple moving average of $167.13 and a two-hundred day simple moving average of $203.92.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings data on Thursday, May 8th. The information technology services provider reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.14. EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the firm posted $2.46 EPS. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. Research analysts forecast that EPAM Systems, Inc. will post 8.9 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on EPAM shares. Susquehanna reduced their price objective on EPAM Systems from $270.00 to $210.00 and set a “positive” rating on the stock in a research note on Wednesday, April 23rd. Barclays increased their target price on shares of EPAM Systems from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Monday, May 12th. Needham & Company LLC increased their target price on shares of EPAM Systems from $185.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Wall Street Zen lowered shares of EPAM Systems from a “buy” rating to a “hold” rating in a report on Saturday, April 12th. Finally, Stifel Nicolaus dropped their target price on shares of EPAM Systems from $275.00 to $240.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $233.93.

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.