Intact Investment Management Inc. Purchases Shares of 360 EPAM Systems, Inc. (NYSE:EPAM)

Intact Investment Management Inc. purchased a new stake in EPAM Systems, Inc. (NYSE:EPAM) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 360 shares of the information technology services provider’s stock, valued at approximately $72,000.

Other large investors have also recently bought and sold shares of the company. Retirement Systems of Alabama grew its position in shares of EPAM Systems by 0.4% during the 2nd quarter. Retirement Systems of Alabama now owns 12,788 shares of the information technology services provider’s stock worth $2,406,000 after purchasing an additional 52 shares in the last quarter. Motley Fool Asset Management LLC grew its position in shares of EPAM Systems by 5.2% during the 1st quarter. Motley Fool Asset Management LLC now owns 1,124 shares of the information technology services provider’s stock worth $310,000 after purchasing an additional 56 shares in the last quarter. Taylor Frigon Capital Management LLC grew its position in shares of EPAM Systems by 0.5% during the 2nd quarter. Taylor Frigon Capital Management LLC now owns 12,339 shares of the information technology services provider’s stock worth $2,321,000 after purchasing an additional 56 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of EPAM Systems by 1.1% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,788 shares of the information technology services provider’s stock worth $1,089,000 after purchasing an additional 63 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its position in shares of EPAM Systems by 4.3% during the 3rd quarter. V Square Quantitative Management LLC now owns 1,562 shares of the information technology services provider’s stock worth $311,000 after purchasing an additional 65 shares in the last quarter. 91.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on EPAM. Piper Sandler restated an “overweight” rating and set a $225.00 target price on shares of EPAM Systems in a research report on Tuesday, October 8th. Susquehanna reduced their price target on shares of EPAM Systems from $260.00 to $240.00 and set a “positive” rating on the stock in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft started coverage on shares of EPAM Systems in a research report on Thursday, August 22nd. They set a “hold” rating and a $204.00 price target on the stock. Jefferies Financial Group increased their price target on shares of EPAM Systems from $237.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Finally, Itau BBA Securities upgraded shares of EPAM Systems from an “underperform” rating to a “market perform” rating in a research report on Friday, August 9th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $254.89.

EPAM Systems Price Performance

EPAM stock opened at $192.21 on Wednesday. The company has a fifty day moving average price of $197.57 and a 200-day moving average price of $198.10. The company has a market capitalization of $10.94 billion, a P/E ratio of 27.54, a PEG ratio of 4.15 and a beta of 1.46. EPAM Systems, Inc. has a 52-week low of $169.43 and a 52-week high of $317.50. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.84 and a current ratio of 4.84.

EPAM Systems (NYSE:EPAM) last released its quarterly earnings results on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.19. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. EPAM Systems had a net margin of 8.86% and a return on equity of 14.31%. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.21 earnings per share. As a group, equities analysts expect that EPAM Systems, Inc. will post 8.08 EPS for the current year.

EPAM Systems declared that its Board of Directors has authorized a share repurchase program on Thursday, August 8th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the information technology services provider to buy up to 4.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

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.