EPAM Systems, Inc. (NYSE:EPAM) Shares Purchased by Lazard Asset Management LLC

Lazard Asset Management LLC increased its stake in shares of EPAM Systems, Inc. (NYSE:EPAM) by 11.6% in the 4th quarter, HoldingsChannel reports. The firm owned 24,703 shares of the information technology services provider’s stock after buying an additional 2,559 shares during the quarter. Lazard Asset Management LLC’s holdings in EPAM Systems were worth $5,775,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in EPAM. Norges Bank purchased a new position in shares of EPAM Systems during the 4th quarter worth $173,053,000. William Blair Investment Management LLC acquired a new stake in shares of EPAM Systems during the fourth quarter valued at about $166,906,000. Ameriprise Financial Inc. grew its stake in shares of EPAM Systems by 39.8% during the fourth quarter. Ameriprise Financial Inc. now owns 2,181,143 shares of the information technology services provider’s stock valued at $510,053,000 after acquiring an additional 620,551 shares in the last quarter. Marshall Wace LLP grew its stake in shares of EPAM Systems by 126.4% during the fourth quarter. Marshall Wace LLP now owns 769,584 shares of the information technology services provider’s stock valued at $179,944,000 after acquiring an additional 429,644 shares in the last quarter. Finally, Capital World Investors lifted its position in shares of EPAM Systems by 22.0% during the fourth quarter. Capital World Investors now owns 2,304,243 shares of the information technology services provider’s stock worth $538,778,000 after purchasing an additional 414,942 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

EPAM Systems Stock Up 0.1%

EPAM stock opened at $184.65 on Friday. The company has a quick ratio of 4.56, a current ratio of 2.96 and a debt-to-equity ratio of 0.01. The business’s 50-day simple moving average is $164.93 and its 200 day simple moving average is $210.76. The company has a market cap of $10.54 billion, a PE ratio of 23.55, a price-to-earnings-growth ratio of 3.38 and a beta of 1.71. EPAM Systems, Inc. has a twelve month low of $138.15 and a twelve month high of $269.00.

EPAM Systems (NYSE:EPAM) last posted its quarterly earnings data on Thursday, May 8th. The information technology services provider reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.14. EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the previous year, the company posted $2.46 EPS. EPAM Systems’s revenue was up 11.7% on a year-over-year basis. On average, research analysts anticipate that EPAM Systems, Inc. will post 8.9 earnings per share for the current year.

Analysts Set New Price Targets

EPAM has been the topic of several research analyst reports. Barclays increased their price target on shares of EPAM Systems from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Monday. Stifel Nicolaus decreased their price target on EPAM Systems from $275.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Guggenheim raised their price objective on EPAM Systems from $210.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Scotiabank reduced their price objective on EPAM Systems from $250.00 to $200.00 and set a “sector outperform” rating for the company in a research note on Tuesday, April 29th. Finally, Piper Sandler increased their target price on EPAM Systems from $170.00 to $194.00 and gave the company a “neutral” rating in a report on Friday, May 9th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $231.50.

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.