Mediolanum International Funds Ltd Invests $685,000 in EPAM Systems, Inc. (NYSE:EPAM)

Mediolanum International Funds Ltd bought a new position in shares of EPAM Systems, Inc. (NYSE:EPAM) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,480 shares of the information technology services provider’s stock, valued at approximately $685,000.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in EPAM Systems during the fourth quarter worth approximately $184,713,000. Price T Rowe Associates Inc. MD grew its holdings in shares of EPAM Systems by 372.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 476,311 shares of the information technology services provider’s stock worth $141,627,000 after purchasing an additional 375,439 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of EPAM Systems in the fourth quarter worth $663,080,000. TD Asset Management Inc raised its stake in EPAM Systems by 317.4% in the fourth quarter. TD Asset Management Inc now owns 263,255 shares of the information technology services provider’s stock valued at $78,276,000 after purchasing an additional 200,181 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in EPAM Systems by 265.7% during the third quarter. Royal Bank of Canada now owns 183,284 shares of the information technology services provider’s stock worth $46,864,000 after purchasing an additional 133,163 shares during the period. 91.58% of the stock is owned by institutional investors and hedge funds.

EPAM Systems Trading Down 0.5 %

NYSE EPAM traded down $0.90 on Wednesday, reaching $181.69. The company had a trading volume of 450,673 shares, compared to its average volume of 639,846. The firm has a market cap of $10.53 billion, a price-to-earnings ratio of 24.98, a P/E/G ratio of 4.31 and a beta of 1.45. EPAM Systems, Inc. has a fifty-two week low of $169.43 and a fifty-two week high of $317.50. The business has a 50 day moving average of $189.26 and a two-hundred day moving average of $251.51. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.68 and a quick ratio of 4.68.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings data on Thursday, May 9th. The information technology services provider reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.09. EPAM Systems had a return on equity of 14.95% and a net margin of 9.28%. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. Analysts forecast that EPAM Systems, Inc. will post 7.8 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. The Goldman Sachs Group assumed coverage on shares of EPAM Systems in a report on Monday, June 24th. They issued a “neutral” rating and a $200.00 target price on the stock. Wedbush restated an “outperform” rating and set a $340.00 target price on shares of EPAM Systems in a research note on Wednesday, April 10th. Morgan Stanley upgraded EPAM Systems from an “underweight” rating to an “equal weight” rating and decreased their price target for the company from $236.00 to $225.00 in a research note on Friday, April 26th. Citigroup dropped their price objective on EPAM Systems from $325.00 to $275.00 and set a “neutral” rating for the company in a research report on Monday, April 22nd. Finally, Redburn Atlantic began coverage on EPAM Systems in a research note on Friday, May 24th. They issued a “neutral” rating and a $195.00 price objective on the stock. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $272.11.

EPAM Systems 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.