Clark Capital Management Group Inc. Acquires Shares of 3,383 EPAM Systems, Inc. (NYSE:EPAM)

Clark Capital Management Group Inc. bought a new position in shares of EPAM Systems, Inc. (NYSE:EPAM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,383 shares of the information technology services provider’s stock, valued at approximately $791,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EPAM. Aurora Investment Counsel boosted its stake in shares of EPAM Systems by 0.7% in the fourth quarter. Aurora Investment Counsel now owns 6,101 shares of the information technology services provider’s stock worth $1,427,000 after acquiring an additional 45 shares during the last quarter. UniSuper Management Pty Ltd boosted its stake in EPAM Systems by 0.3% during the 4th quarter. UniSuper Management Pty Ltd now owns 15,632 shares of the information technology services provider’s stock worth $3,655,000 after purchasing an additional 52 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of EPAM Systems by 90.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider’s stock worth $27,000 after buying an additional 54 shares in the last quarter. Baker Tilly Wealth Management LLC lifted its stake in shares of EPAM Systems by 4.9% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 1,465 shares of the information technology services provider’s stock worth $343,000 after buying an additional 69 shares in the last quarter. Finally, TD Private Client Wealth LLC boosted its position in EPAM Systems by 88.5% during the fourth 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 last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Stifel Nicolaus decreased their target price on shares of EPAM Systems from $275.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Barclays lowered their price objective on EPAM Systems from $270.00 to $200.00 and set an “overweight” rating on the stock in a research note on Friday, April 25th. Scotiabank reduced their price target on EPAM Systems from $250.00 to $200.00 and set a “sector outperform” rating on the stock in a report on Tuesday, April 29th. Needham & Company LLC upped their price objective on shares of EPAM Systems from $185.00 to $215.00 and gave the company a “buy” rating in a report on Friday. Finally, Jefferies Financial Group reduced their target price on shares of EPAM Systems from $305.00 to $288.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. Eight 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $228.94.

EPAM Systems Price Performance

Shares of NYSE:EPAM opened at $176.87 on Friday. 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 12 month low of $138.15 and a 12 month high of $269.00. The firm has a market capitalization of $10.09 billion, a P/E ratio of 22.56, a P/E/G ratio of 3.38 and a beta of 1.71. The company’s fifty day moving average price is $165.80 and its 200 day moving average price is $210.92.

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

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.