EPAM Systems, Inc. (NYSE:EPAM) Stake Lessened by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC cut its stake in EPAM Systems, Inc. (NYSE:EPAM) by 10.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 3,274 shares of the information technology services provider’s stock after selling 391 shares during the period. Mount Yale Investment Advisors LLC’s holdings in EPAM Systems were worth $652,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Duality Advisers LP raised its stake in shares of EPAM Systems by 60.7% in the 1st quarter. Duality Advisers LP now owns 10,754 shares of the information technology services provider’s stock valued at $2,970,000 after purchasing an additional 4,061 shares in the last quarter. Diversified Trust Co bought a new stake in EPAM Systems in the second quarter valued at about $734,000. Vanguard Group Inc. raised its stake in EPAM Systems by 0.6% during the first quarter. Vanguard Group Inc. now owns 6,865,123 shares of the information technology services provider’s stock valued at $1,895,872,000 after buying an additional 39,531 shares in the last quarter. MBB Public Markets I LLC bought a new position in EPAM Systems during the 2nd quarter worth approximately $631,000. Finally, Russell Investments Group Ltd. grew its position in shares of EPAM Systems by 62.6% in the 1st quarter. Russell Investments Group Ltd. now owns 46,381 shares of the information technology services provider’s stock worth $12,809,000 after acquiring an additional 17,848 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors.

EPAM Systems Price Performance

NYSE EPAM opened at $191.52 on Friday. The firm has a market capitalization of $10.91 billion, a PE ratio of 27.44, a P/E/G ratio of 4.35 and a beta of 1.45. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.84 and a quick ratio of 4.84. EPAM Systems, Inc. has a 12 month low of $169.43 and a 12 month high of $317.50. The company’s 50 day simple moving average is $198.79 and its 200 day simple moving average is $201.66.

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, topping 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 for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the previous year, the business earned $2.21 EPS. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. As a group, equities research analysts forecast that EPAM Systems, Inc. will post 8.08 EPS for the current fiscal year.

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

Analysts Set New Price Targets

EPAM has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their price objective on EPAM Systems from $222.00 to $262.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of EPAM Systems in a report on Thursday, August 22nd. They issued a “hold” rating and a $204.00 price target for the company. Jefferies Financial Group increased their price objective on shares of EPAM Systems from $237.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Piper Sandler restated an “overweight” rating and issued a $225.00 target price on shares of EPAM Systems in a research note on Tuesday, October 8th. Finally, Itau BBA Securities upgraded EPAM Systems from an “underperform” rating to a “market perform” rating in a research report on Friday, August 9th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $258.32.

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.