Harvest Portfolios Group Inc. Lowers Stock Position in EPAM Systems, Inc. (NYSE:EPAM)

Harvest Portfolios Group Inc. trimmed its position in EPAM Systems, Inc. (NYSE:EPAM) by 6.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,853 shares of the information technology services provider’s stock after selling 349 shares during the period. Harvest Portfolios Group Inc.’s holdings in EPAM Systems were worth $966,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ORG Partners LLC grew 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 buying an additional 150 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in EPAM Systems in the second quarter valued at $29,000. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in 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 acquiring an additional 100 shares during the period. Farther Finance Advisors LLC lifted its holdings in EPAM Systems by 101.0% in the third quarter. Farther Finance Advisors LLC now owns 211 shares of the information technology services provider’s stock valued at $42,000 after acquiring an additional 106 shares during the period. Finally, Whittier Trust Co. acquired a new stake in EPAM Systems in the first quarter valued at $64,000. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on EPAM shares. Susquehanna reduced their target price on EPAM Systems from $260.00 to $240.00 and set a “positive” rating for the company in a report on Friday, August 9th. StockNews.com raised EPAM Systems from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Piper Sandler reaffirmed an “overweight” rating and set a $225.00 price target on shares of EPAM Systems in a research note on Tuesday, October 8th. Citigroup lifted their price target on EPAM Systems from $207.00 to $210.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Finally, Barclays lifted their price target on EPAM Systems from $200.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, EPAM Systems currently has a consensus rating of “Moderate Buy” and an average price target of $254.89.

EPAM Systems Stock Performance

Shares of NYSE EPAM opened at $202.69 on Thursday. The stock has a 50 day moving average price of $197.65 and a 200 day moving average price of $198.13. EPAM Systems, Inc. has a 52 week low of $169.43 and a 52 week 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 stock has a market capitalization of $11.54 billion, a PE ratio of 29.04, a price-to-earnings-growth ratio of 4.15 and a beta of 1.46.

EPAM Systems (NYSE:EPAM) last released its quarterly earnings data on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period last year, the firm posted $2.21 earnings per share. The business’s revenue was down 2.0% on a year-over-year basis. Analysts predict that EPAM Systems, Inc. will post 8.08 earnings per share for the current fiscal year.

EPAM Systems announced that its board has initiated a share buyback plan on Thursday, August 8th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the information technology services provider to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

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.