Virtu Financial LLC Invests $1.25 Million in EPAM Systems, Inc. (NYSE:EPAM)

Virtu Financial LLC bought a new position in shares of EPAM Systems, Inc. (NYSE:EPAM) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,533 shares of the information technology services provider’s stock, valued at approximately $1,252,000.

Several other hedge funds have also made changes to their positions in the business. Raymond James Financial Services Advisors Inc. lifted its position in EPAM Systems by 8.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 4,233 shares of the information technology services provider’s stock valued at $1,259,000 after purchasing an additional 345 shares during the period. AdvisorNet Financial Inc lifted its position in EPAM Systems by 3,684.6% in the fourth quarter. AdvisorNet Financial Inc now owns 492 shares of the information technology services provider’s stock valued at $146,000 after purchasing an additional 479 shares during the period. Veracity Capital LLC acquired a new stake in EPAM Systems in the fourth quarter valued at about $228,000. Arizona State Retirement System lifted its position in EPAM Systems by 0.8% in the fourth quarter. Arizona State Retirement System now owns 15,930 shares of the information technology services provider’s stock valued at $4,737,000 after purchasing an additional 133 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in EPAM Systems in the fourth quarter valued at about $663,080,000. Institutional investors and hedge funds own 91.58% of the company’s stock.

EPAM Systems Trading Down 2.8 %

Shares of EPAM traded down $6.09 during mid-day trading on Friday, reaching $208.85. The company had a trading volume of 452,624 shares, compared to its average volume of 630,443. The stock has a market cap of $12.11 billion, a price-to-earnings ratio of 28.57, a price-to-earnings-growth ratio of 4.97 and a beta of 1.45. The firm has a fifty day simple moving average of $189.39 and a 200-day simple moving average of $240.79. EPAM Systems, Inc. has a fifty-two week low of $169.43 and a fifty-two week high of $317.50. The company has a current ratio of 4.68, a quick ratio of 4.68 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAM) last announced its quarterly earnings results on Thursday, May 9th. The information technology services provider reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.09. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. EPAM Systems had a net margin of 9.28% and a return on equity of 14.95%. On average, sell-side analysts anticipate that EPAM Systems, Inc. will post 7.81 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on EPAM. Mizuho reduced their price objective on shares of EPAM Systems from $345.00 to $258.00 and set a “buy” rating for the company in a research report on Tuesday, May 14th. Wedbush reaffirmed an “outperform” rating and issued a $340.00 target price on shares of EPAM Systems in a report on Wednesday, April 10th. Scotiabank cut shares of EPAM Systems from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the company from $300.00 to $245.00 in a report on Friday, May 10th. Needham & Company LLC dropped their target price on shares of EPAM Systems from $350.00 to $210.00 and set a “buy” rating for the company in a report on Friday, May 10th. Finally, The Goldman Sachs Group began coverage on shares of EPAM Systems in a report on Monday, June 24th. They issued a “neutral” rating and a $200.00 target price for the company. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $270.28.

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.