Sound Income Strategies LLC Makes New $191,000 Investment in EPAM Systems, Inc. (NYSE:EPAM)

Sound Income Strategies LLC bought a new stake in shares of EPAM Systems, Inc. (NYSE:EPAM) in the 3rd quarter, HoldingsChannel reports. The firm bought 961 shares of the information technology services provider’s stock, valued at approximately $191,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in EPAM Systems by 0.6% in 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 purchasing an additional 39,531 shares during the period. Pacer Advisors Inc. lifted its stake in shares of EPAM Systems by 14,325.2% in the 2nd quarter. Pacer Advisors Inc. now owns 657,070 shares of the information technology services provider’s stock valued at $123,601,000 after acquiring an additional 652,515 shares during the last quarter. TD Asset Management Inc grew its position in EPAM Systems by 80.0% during the 2nd quarter. TD Asset Management Inc now owns 595,486 shares of the information technology services provider’s stock worth $112,017,000 after acquiring an additional 264,570 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its stake in EPAM Systems by 22.6% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 512,353 shares of the information technology services provider’s stock worth $139,516,000 after purchasing an additional 94,544 shares during the period. Finally, Manning & Napier Advisors LLC purchased a new stake in EPAM Systems during the 2nd quarter valued at $84,850,000. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of EPAM Systems from $222.00 to $262.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Jefferies Financial Group boosted their target price on shares of EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 9th. Susquehanna lowered their price target on shares of EPAM Systems from $260.00 to $240.00 and set a “positive” rating for the company in a research report on Friday, August 9th. Barclays raised their price objective on shares of EPAM Systems from $200.00 to $225.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Finally, StockNews.com upgraded EPAM Systems from a “hold” rating to a “buy” rating in a report on Saturday. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $258.32.

EPAM Systems Stock Up 1.2 %

Shares of NYSE:EPAM opened at $195.03 on Monday. The business’s 50 day moving average is $199.18 and its 200 day moving average is $206.37. The stock has a market cap of $11.31 billion, a P/E ratio of 26.68, a price-to-earnings-growth ratio of 4.26 and a beta of 1.45. EPAM Systems, Inc. has a 52-week low of $169.43 and a 52-week high of $317.50. The company has a quick ratio of 4.84, a current ratio of 4.84 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAM) last posted its quarterly 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. EPAM Systems had a return on equity of 14.31% and a net margin of 8.86%. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the company earned $2.21 EPS. The business’s revenue was down 2.0% compared to the same quarter last year. Sell-side analysts predict that EPAM Systems, Inc. will post 8.08 EPS for the current year.

EPAM Systems declared that its Board of Directors has approved a stock buyback 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 leadership 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.