Louisiana State Employees Retirement System Sells 100 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Louisiana State Employees Retirement System reduced its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM) by 3.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,200 shares of the information technology services provider’s stock after selling 100 shares during the period. Louisiana State Employees Retirement System’s holdings in EPAM Systems were worth $637,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Raymond James & Associates lifted its position in EPAM Systems by 1,741.1% in the 3rd quarter. Raymond James & Associates now owns 36,694 shares of the information technology services provider’s stock valued at $7,303,000 after acquiring an additional 34,701 shares in the last quarter. Duality Advisers LP increased its position in EPAM Systems by 60.7% during the first quarter. Duality Advisers LP now owns 10,754 shares of the information technology services provider’s stock worth $2,970,000 after buying an additional 4,061 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in EPAM Systems by 251.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 19,128 shares of the information technology services provider’s stock valued at $3,807,000 after acquiring an additional 13,690 shares during the period. Diversified Trust Co acquired a new stake in EPAM Systems during the 2nd quarter valued at $734,000. Finally, Vanguard Group Inc. lifted its stake in shares of EPAM Systems by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 6,865,123 shares of the information technology services provider’s stock worth $1,895,872,000 after buying an additional 39,531 shares during the last quarter. Institutional investors own 91.58% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on EPAM. Citigroup upped their target price on EPAM Systems from $207.00 to $210.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. 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. Barclays lifted their price target on shares of EPAM Systems from $200.00 to $225.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Susquehanna reduced their price target on EPAM Systems from $260.00 to $240.00 and set a “positive” rating on the stock in a research report on Friday, August 9th. Finally, Jefferies Financial Group lifted their price objective on EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 9th. Ten 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 presently has an average rating of “Moderate Buy” and an average price target of $254.89.

EPAM Systems Stock Up 1.5 %

Shares of NYSE:EPAM opened at $192.21 on Wednesday. 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, Inc. has a 52-week low of $169.43 and a 52-week high of $317.50. The company has a market capitalization of $10.94 billion, a PE ratio of 27.54, a price-to-earnings-growth ratio of 4.15 and a beta of 1.46. The company has a fifty day moving average of $197.73 and a 200-day moving average of $198.48.

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

EPAM Systems announced that its board has approved a share repurchase plan on Thursday, August 8th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the information technology services provider to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is 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.