Sara Bay Financial Has $2.69 Million Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Sara Bay Financial lessened its stake in EPAM Systems, Inc. (NYSE:EPAM) by 45.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,283 shares of the information technology services provider’s stock after selling 11,724 shares during the quarter. EPAM Systems makes up 1.1% of Sara Bay Financial’s holdings, making the stock its 13th biggest position. Sara Bay Financial’s holdings in EPAM Systems were worth $2,687,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. bought a new stake in EPAM Systems in the 4th quarter valued at $25,000. ORG Partners LLC raised its stake in EPAM Systems by 5,000.0% in the 2nd quarter. ORG Partners LLC now owns 153 shares of the information technology services provider’s stock valued at $28,000 after acquiring an additional 150 shares during the period. Riverview Trust Co bought a new stake in EPAM Systems in the 1st quarter valued at $29,000. Opal Wealth Advisors LLC bought a new stake in EPAM Systems in the 2nd quarter valued at $29,000. Finally, Principal Securities Inc. bought a new position in EPAM Systems during the 4th quarter worth $43,000. Institutional investors and hedge funds own 91.58% of the company’s stock.

Analysts Set New Price Targets

EPAM has been the topic of several recent research reports. Citigroup lowered their price objective on EPAM Systems from $325.00 to $275.00 and set a “neutral” rating on the stock in a research report on Monday, April 22nd. Morgan Stanley upgraded EPAM Systems from an “underweight” rating to an “equal weight” rating and lowered their price objective for the stock from $236.00 to $225.00 in a research report on Friday, April 26th. Jefferies Financial Group upgraded EPAM Systems from a “hold” rating to a “buy” rating and increased their price objective for the stock from $202.00 to $237.00 in a research report on Tuesday, July 16th. Redburn Atlantic initiated coverage on EPAM Systems in a research report on Friday, May 24th. They set a “neutral” rating and a $195.00 price objective on the stock. Finally, TD Cowen lowered their price objective on EPAM Systems from $282.00 to $203.00 and set a “hold” rating on the stock in a research report on Friday, May 10th. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, EPAM Systems presently has an average rating of “Moderate Buy” and an average price target of $263.33.

EPAM Systems Price Performance

EPAM Systems stock traded up $0.94 during midday trading on Monday, reaching $202.29. The company’s stock had a trading volume of 206,762 shares, compared to its average volume of 633,420. EPAM Systems, Inc. has a 52 week low of $169.43 and a 52 week high of $317.50. The company has a current ratio of 4.68, a quick ratio of 4.68 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average price of $193.81 and a 200-day moving average price of $233.51. The stock has a market cap of $11.73 billion, a PE ratio of 27.67, a price-to-earnings-growth ratio of 4.97 and a beta of 1.45.

EPAM Systems (NYSE:EPAM) last released its earnings results on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.19. EPAM Systems had a return on equity of 14.95% and a net margin of 9.28%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the business posted $2.21 earnings per share. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, sell-side analysts predict that EPAM Systems, Inc. will post 7.81 EPS for the current year.

EPAM Systems announced that its board has authorized a stock buyback program on Thursday, August 8th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the information technology services provider to repurchase up to 4.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

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.