Bessemer Group Inc. Grows Position in EPAM Systems, Inc. $EPAM

Bessemer Group Inc. increased its holdings in EPAM Systems, Inc. (NYSE:EPAM) by 66.7% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 223,240 shares of the information technology services provider’s stock after buying an additional 89,319 shares during the quarter. Bessemer Group Inc.’s holdings in EPAM Systems were worth $33,662,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of EPAM. Vanguard Group Inc. grew its stake in shares of EPAM Systems by 0.3% in the second quarter. Vanguard Group Inc. now owns 6,985,172 shares of the information technology services provider’s stock worth $1,235,118,000 after acquiring an additional 20,921 shares during the period. Invesco Ltd. boosted its holdings in EPAM Systems by 14.9% in the second quarter. Invesco Ltd. now owns 4,102,790 shares of the information technology services provider’s stock worth $725,455,000 after purchasing an additional 533,292 shares during the last quarter. Geode Capital Management LLC grew its position in EPAM Systems by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 1,418,287 shares of the information technology services provider’s stock worth $250,752,000 after purchasing an additional 15,936 shares during the period. Baillie Gifford & Co. grew its position in EPAM Systems by 20.7% in the 3rd quarter. Baillie Gifford & Co. now owns 1,293,857 shares of the information technology services provider’s stock worth $195,101,000 after purchasing an additional 221,544 shares during the period. Finally, William Blair Investment Management LLC raised its stake in EPAM Systems by 20.9% during the 2nd quarter. William Blair Investment Management LLC now owns 841,922 shares of the information technology services provider’s stock valued at $148,869,000 after buying an additional 145,411 shares during the last quarter. Institutional investors own 91.58% of the company’s stock.

Insider Activity at EPAM Systems

In related news, SVP Viktar Dvorkin sold 2,500 shares of the company’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $181.80, for a total value of $454,500.00. Following the completion of the transaction, the senior vice president owned 38,124 shares of the company’s stock, valued at approximately $6,930,943.20. This represents a 6.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Boris Shnayder sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $207.00, for a total value of $1,035,000.00. Following the sale, the senior vice president directly owned 15,645 shares in the company, valued at approximately $3,238,515. This represents a 24.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 8,100 shares of company stock worth $1,597,074. 4.30% of the stock is owned by corporate insiders.

EPAM Systems Trading Down 4.1%

EPAM Systems stock opened at $177.15 on Friday. EPAM Systems, Inc. has a 12-month low of $138.15 and a 12-month high of $269.00. The firm has a market capitalization of $9.79 billion, a price-to-earnings ratio of 27.05, a P/E/G ratio of 2.21 and a beta of 1.72. The firm has a 50 day moving average of $207.65 and a 200 day moving average of $178.32. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings results on Thursday, November 6th. The information technology services provider reported $3.08 earnings per share for the quarter, beating the consensus estimate of $3.02 by $0.06. The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.39 billion. EPAM Systems had a net margin of 7.01% and a return on equity of 13.16%. The company’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.12 earnings per share. As a group, research analysts predict that EPAM Systems, Inc. will post 8.9 earnings per share for the current year.

EPAM Systems announced that its board has initiated a stock repurchase plan on Tuesday, October 21st that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the information technology services provider to buy up to 12.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on EPAM. JPMorgan Chase & Co. raised their price target on EPAM Systems from $201.00 to $215.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Truist Financial assumed coverage on EPAM Systems in a research report on Tuesday, January 6th. They issued a “hold” rating and a $220.00 target price on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of EPAM Systems in a research note on Monday, December 29th. Zacks Research cut shares of EPAM Systems from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 28th. Finally, Wells Fargo & Company raised their price objective on shares of EPAM Systems from $185.00 to $247.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. Ten analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $214.20.

EPAM Systems Company Profile

EPAM Systems, Inc is a global provider of digital platform engineering and software development services. The company partners with clients across industries—such as financial services, healthcare, retail, and technology—to design, develop, and maintain complex software applications and digital experiences. EPAM’s offerings include custom software development, application management, infrastructure management, quality assurance, and testing services, enabling organizations to accelerate digital transformation and enhance operational efficiency.

In addition to its core engineering capabilities, EPAM delivers a range of specialized services, including product design and consulting, data and analytics, cloud computing, DevOps, and cybersecurity.