1,396 Shares in EPAM Systems, Inc. (NYSE:EPAM) Acquired by Baker Tilly Wealth Management LLC

Baker Tilly Wealth Management LLC acquired a new stake in EPAM Systems, Inc. (NYSE:EPAM) in the third quarter, Holdings Channel reports. The fund acquired 1,396 shares of the information technology services provider’s stock, valued at approximately $278,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of EPAM. ORG Partners LLC increased its holdings in EPAM Systems by 5,000.0% during the 2nd quarter. ORG Partners LLC now owns 153 shares of the information technology services provider’s stock worth $28,000 after purchasing an additional 150 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in EPAM Systems during the second quarter worth $29,000. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in EPAM Systems by 181.8% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 155 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 100 shares in the last quarter. Whittier Trust Co. purchased a new position in EPAM Systems during the 1st quarter worth $64,000. Finally, 1620 Investment Advisors Inc. purchased a new position in EPAM Systems during the 2nd quarter worth $69,000. Institutional investors own 91.58% of the company’s stock.

EPAM Systems Stock Performance

EPAM Systems stock opened at $191.29 on Tuesday. EPAM Systems, Inc. has a 1-year low of $169.43 and a 1-year high of $317.50. 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 firm has a market capitalization of $11.09 billion, a PE ratio of 26.17, a price-to-earnings-growth ratio of 4.35 and a beta of 1.45. The firm’s 50 day simple moving average is $198.57 and its 200 day simple moving average is $200.67.

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 for the quarter, topping the consensus estimate of $2.26 by $0.19. The firm 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 business’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.21 earnings per share. As a group, analysts expect that EPAM Systems, Inc. will post 8.08 earnings per share for the current fiscal year.

EPAM Systems declared that its Board of Directors has approved a stock buyback program on Thursday, August 8th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the information technology services provider to reacquire up to 4.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

EPAM has been the topic of a number of recent analyst reports. StockNews.com raised shares of EPAM Systems from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. Barclays lifted their target price on shares of EPAM Systems from $200.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft started coverage on EPAM Systems in a report on Thursday, August 22nd. They issued a “hold” rating and a $204.00 target price for the company. Itau BBA Securities upgraded EPAM Systems from an “underperform” rating to a “market perform” rating in a report on Friday, August 9th. Finally, Piper Sandler restated an “overweight” rating and issued a $225.00 price objective on shares of EPAM Systems in a research note on Tuesday, October 8th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, EPAM Systems has an average rating of “Moderate Buy” and an average price target of $254.89.

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.