D.B. Root & Company LLC Has $212,000 Stake in EPAM Systems, Inc. (NYSE:EPAM)

D.B. Root & Company LLC reduced its holdings in EPAM Systems, Inc. (NYSE:EPAM) by 37.7% during the 3rd quarter, Holdings Channel reports. The fund owned 1,066 shares of the information technology services provider’s stock after selling 645 shares during the quarter. D.B. Root & Company LLC’s holdings in EPAM Systems were worth $212,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. ORG Partners LLC raised its position 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 purchasing an additional 150 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of EPAM Systems in the second quarter valued at $29,000. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of EPAM Systems by 181.8% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 155 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 100 shares during the last quarter. Farther Finance Advisors LLC lifted its position in EPAM Systems by 101.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 211 shares of the information technology services provider’s stock worth $42,000 after buying an additional 106 shares in the last quarter. Finally, Sentry Investment Management LLC bought a new stake in EPAM Systems during the 3rd quarter worth about $52,000. 91.58% of the stock is currently owned by institutional investors.

EPAM Systems Stock Performance

Shares of EPAM opened at $232.96 on Friday. The firm has a market cap of $13.26 billion, a P/E ratio of 33.38, a PEG ratio of 4.16 and a beta of 1.46. EPAM Systems, Inc. has a twelve month low of $169.43 and a twelve month 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. The firm’s 50 day moving average price is $198.28 and its two-hundred day moving average price is $198.37.

EPAM Systems (NYSE:EPAM) last posted its quarterly earnings data on Thursday, August 8th. The information technology services provider reported $2.45 EPS for the quarter, beating the consensus estimate of $2.26 by $0.19. The business had revenue of $1.15 billion for 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 firm’s revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.21 EPS. On average, analysts forecast that EPAM Systems, Inc. will post 8.08 EPS for the current fiscal year.

EPAM Systems declared that its board has authorized a stock 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 repurchase up to 4.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on EPAM. 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 target price on the stock. Itau BBA Securities raised EPAM Systems from an “underperform” rating to a “market perform” rating in a report on Friday, August 9th. Susquehanna lowered their target price on EPAM Systems from $260.00 to $240.00 and set a “positive” rating for the company in a research note on Friday, August 9th. Piper Sandler upped their price target on EPAM Systems from $225.00 to $258.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, StockNews.com cut shares of EPAM Systems from a “buy” rating to a “hold” rating in a research note on Thursday. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $256.63.

EPAM Systems 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.