Central Pacific Bank Trust Division Acquires New Position in EPAM Systems, Inc. (NYSE:EPAM)

Central Pacific Bank Trust Division acquired a new stake in shares of EPAM Systems, Inc. (NYSE:EPAMFree Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,318 shares of the information technology services provider’s stock, valued at approximately $631,000.

Several other large investors have also bought and sold shares of EPAM. Whittier Trust Co. purchased a new position in shares of EPAM Systems in the first quarter worth $64,000. Daiwa Securities Group Inc. raised its position in EPAM Systems by 6.7% in the 1st quarter. Daiwa Securities Group Inc. now owns 5,663 shares of the information technology services provider’s stock worth $1,564,000 after buying an additional 354 shares during the last quarter. Nordea Investment Management AB raised its position in EPAM Systems by 5.4% in the 1st quarter. Nordea Investment Management AB now owns 3,656 shares of the information technology services provider’s stock worth $1,008,000 after buying an additional 187 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in EPAM Systems by 10.2% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,763 shares of the information technology services provider’s stock valued at $487,000 after acquiring an additional 163 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of EPAM Systems during the 1st quarter valued at about $272,000. 91.58% of the stock is owned by hedge funds and other institutional investors.

EPAM Systems Price Performance

Shares of NYSE EPAM traded down $0.68 during midday trading on Wednesday, reaching $181.91. The stock had a trading volume of 22,194 shares, compared to its average volume of 636,565. The company has a market capitalization of $10.55 billion, a price-to-earnings ratio of 24.98, a price-to-earnings-growth ratio of 4.31 and a beta of 1.45. EPAM Systems, Inc. has a 12-month low of $169.43 and a 12-month high of $317.50. The stock has a 50-day moving average of $189.26 and a 200-day moving average of $251.51. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.68 and a current ratio of 4.68.

EPAM Systems (NYSE:EPAMGet Free Report) last issued its quarterly earnings results on Thursday, May 9th. The information technology services provider reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.09. EPAM Systems had a return on equity of 14.95% and a net margin of 9.28%. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.16 billion. As a group, research analysts anticipate that EPAM Systems, Inc. will post 7.8 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on EPAM shares. The Goldman Sachs Group began coverage on shares of EPAM Systems in a research report on Monday, June 24th. They set a “neutral” rating and a $200.00 price objective on the stock. HSBC lowered their price target on EPAM Systems from $350.00 to $345.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd. JPMorgan Chase & Co. cut their price objective on EPAM Systems from $331.00 to $311.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Piper Sandler lowered their target price on EPAM Systems from $252.00 to $230.00 and set an “overweight” rating on the stock in a report on Thursday, June 13th. Finally, Morgan Stanley upgraded EPAM Systems from an “underweight” rating to an “equal weight” rating and cut their price target for the company from $236.00 to $225.00 in a research note on Friday, April 26th. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $272.11.

Read Our Latest Research Report on EPAM

EPAM Systems Profile

(Free Report)

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.

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Institutional Ownership by Quarter for EPAM Systems (NYSE:EPAM)

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