In the first quarter of this year, Resources Investment Advisors LLC. made a notable investment in EPAM Systems, Inc., a prominent information technology services provider. The institutional investor acquired 817 shares of the company’s stock, valued at approximately $244,000, as reported in its 13F filing with the Securities and Exchange Commission (SEC).
EPAM Systems recently announced its quarterly earnings results on Thursday, August 3rd. For the quarter, the company reported an impressive $2.21 earnings per share (EPS), surpassing the consensus estimate of $1.88 by $0.33. This positive performance reflected a return on equity of 18.60% and a net margin of 11.02%. In terms of revenue, EPAM Systems generated $1.17 billion during the quarter, slightly surpassing the consensus estimate of $1.16 billion.
These favorable financial results reinforce analyst predictions for EPAM Systems’ future outlook. As a group, research analysts anticipate that the company will achieve an earnings per share figure of 8.06 for the current fiscal year.
EPAM Systems has consistently demonstrated its strong position within the information technology services industry through its solid financial performance and exceeding market expectations in its latest quarterly report. With this recent investment made by Resources Investment Advisors LLC., it reflects growing confidence in EPAM Systems’ potential and further solidifies its reputation as an attractive investment opportunity.
The strategic decision to invest in EPAM Systems is likely based on several factors contributing to its success – such as its expansive range of IT services offered to clients worldwide and its ongoing dedication to delivering innovative solutions to meet evolving industry needs.
As we progress into the future, market experts will continue to monitor EPAM Systems closely for any developments that may impact its financial performance or strategic direction within the information technology services sector.
Please note that this article is fictional and written by OpenAI’s language model GPT-3 with the reference date set to August 25, 2023.
EPAM Systems, Inc.
Updated on: 25/08/2023
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James E Friedman
James Friedman Friedman
Institutional Investors and Hedge Funds Show Growing Interest in EPAM Systems
August 25, 2023 – EPAM Systems, Inc. (NYSE: EPAM) has seen a flurry of activity from institutional investors and hedge funds recently. Several prominent investment firms have made changes to their positions in the company, including Mirae Asset Global Investments Co. Ltd., Nordea Investment Management AB, Banco Bilbao Vizcaya Argentaria S.A., Natixis, and Arizona State Retirement System. Collectively, these institutional investors and hedge funds now own a substantial 91.78% of EPAM’s stock.
Mirae Asset Global Investments Co. Ltd. increased its holdings in EPAM by 8.0% during the fourth quarter, bringing its total number of shares to 17,348 with a value of $5,686,000. Similarly, Nordea Investment Management AB raised its position by an impressive 103.2% during the same period, resulting in ownership of 108,748 shares valued at $35,131,000.
EPAM also caught the attention of Banco Bilbao Vizcaya Argentaria S.A., which saw fit to grow its stake in the company by 21.8% during the first quarter. This move resulted in ownership of 1,780 shares worth $532,000 for Banco Bilbao Vizcaya Argentaria S.A.
Additionally, Natixis significantly grew its stake in EPAM Systems by 120.6% during the fourth quarter. The firm now holds 27,825 shares valued at $9,119,000.
Lastly, Arizona State Retirement System raised its holdings in PRGX Global by 3.5% during the fourth quarter as well. The organization now owns 16,238 shares with a total value of $5,322,000.
In terms of research analyst reports on EPAM Systems’ performance in the market and potential trends moving forward:
– Scotiabank initiated coverage on EPAM Systems with a “sector perform” rating and set a price target of $265.00 for the stock.
– Citigroup increased its price objective from $240.00 to $270.00 and gave the stock a “neutral” rating.
– Barclays raised its target price from $250.00 to $265.00 and rated the stock as “equal weight.”
– Piper Sandler also raised its price objective from $215.00 to $240.00, maintaining a “neutral” rating.
– HSBC recently began covering EPAM Systems, issuing a “hold” rating alongside a $255.00 price objective.
Overall, the consensus among analysts, according to data from Bloomberg, is that EPAM Systems currently holds a consensus rating of “Hold” with an average target price of $308.79.
In other news, Eugene Roman, a Director at EPAM Systems, sold 1,552 shares in early August at an average price of $237.44 per share. As it stands now, Roman holds 982 shares in the company valued at approximately $233,166.08.
Looking at recent market performance, NYSE-listed EPAM opened trading at $242.10 on Friday. The company boasts a market capitalization of approximately $14.03 billion with a P/E ratio of 26.90 and a beta of 1.49.
EPAM Systems’ stock has experienced fluctuations over the past year, hitting both highs and lows within this timeframe; its lowest point was recorded at $197.99 while reaching its peak at $449.24.
With a quick ratio and current ratio both standing at 4:92, reflecting strong liquidity positions for EPAM Systems, the firm maintains minimal debt-to-equity leverage with an impressive ratio of 0:01.
Analysts also note that EPAM’s moving averages indicate somewhat bearish trends, with a 50-day simple moving average of $234.56 and a 200-day simple moving average of $264.93.
As investors and analysts continue to analyze EPAM Systems’ financial performance and market outlook, its diverse ownership among institutional investors and hedge funds reflects the widespread interest in the company’s potential growth prospects.
Please note that all figures and details mentioned in this article are accurate as of August 25th, 2023. For further information on EPAM Systems or additional disclosures, please refer to the official filing with the Securities and Exchange Commission (SEC) available on their website.