Allspring Global Investments Holdings LLC owns $1.02M stake in EPAM Systems, Inc. (NYSE:EPAM)

Allspring Global Investments Holdings LLC decreased its position in shares of EPAM Systems, Inc. (NYSE:EPAM – Free Report) by 94.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,438 shares of the information technology services provider’s stock after selling 88,557 shares during the period. Allspring Global Investments Holdings LLC’s holdings in EPAM Systems were worth $1,023,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Research Global Investors raised its position in EPAM Systems by 0.7% during the fourth quarter. Capital Research Global Investors now owns 7,698,930 shares of the information technology services provider’s stock valued at $2,289,207,000 after acquiring an additional 51,228 shares during the last quarter. Vanguard Group Inc. boosted its holdings in EPAM Systems by 0.6% in the first 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 in the last quarter. Norges Bank acquired a new position in EPAM Systems during the fourth quarter valued at $184,713,000. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in EPAM Systems by 22.6% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 512,353 shares of the information technology services provider’s stock valued at $139,516,000 after purchasing an additional 94,544 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of EPAM Systems by 372.2% in the fourth 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 during the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s shares.

Changes in Analyst Ratings

A number of brokerages have recently commented on EPAM. Piper Sandler reissued an “overweight” rating and set a $225.00 price objective on shares of EPAM Systems in a report on Wednesday. Goldman Sachs Group began coverage on shares of EPAM Systems in a research note on Monday, June 24th. They issued a “neutral” rating and a $200.00 price objective for the company. Itau BBA Securities upgraded shares of EPAM Systems from an “underperform” rating to a “market perform” rating in a research note on Friday, August 9th. Jefferies Financial Group raised shares of EPAM Systems from a “hold” rating to a “buy” rating and upped their target price for the stock from $202.00 to $237.00 in a research report on Tuesday, July 16. Finally, TD Cowen cut their price target 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. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. EPAM Systems presently has a consensus rating of “Hold” and an average target price of $260.21, according to MarketBeat.com.

Get our latest analysis on EPAM

EPAM Systems stock performance

Shares of NYSE EPAM stock opened at $200.50 on Thursday. EPAM Systems, Inc. it has a one year low of $169.43 and a one year high of $317.50. The firm has a market cap of $11.62 billion, a price-to-earnings ratio of 27.43, a PEG ratio of 4.41 and a beta of 1.45. The company has a current ratio of 4.84, a quick ratio of 4.84, and a debt-to-equity ratio of 0.01. The company has a fifty day simple moving average of $199.26 and a 200 day simple moving average of $225.74.

EPAM Systems (NYSE:EPAM – Get Your Free Report ) last announced its earnings results 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 business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations 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% year over year. In the same quarter last year, the company posted EPS of $2.21. Sell-side analysts expect that EPAM Systems, Inc. to post 8.07 EPS for the current year.

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

About EPAM systems

(Free Report)

EPAM Systems, Inc provides digital platform engineering and software development services worldwide. The company provides 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.

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