Clark Capital Management Group Inc. Invests $791,000 in EPAM Systems, Inc. (NYSE:EPAM)

Clark Capital Management Group Inc. acquired a new stake in shares of EPAM Systems, Inc. (NYSE:EPAM) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 3,383 shares of the information technology services provider’s stock, valued at approximately $791,000.

Several other hedge funds also recently bought and sold shares of EPAM. Norges Bank purchased a new stake in EPAM Systems in the 4th quarter valued at about $173,053,000. William Blair Investment Management LLC bought a new position in EPAM Systems in the fourth quarter worth approximately $166,906,000. Ameriprise Financial Inc. increased its holdings in EPAM Systems by 39.8% during the 4th quarter. Ameriprise Financial Inc. now owns 2,181,143 shares of the information technology services provider’s stock worth $510,053,000 after purchasing an additional 620,551 shares during the period. Marshall Wace LLP raised its position in EPAM Systems by 126.4% during the 4th quarter. Marshall Wace LLP now owns 769,584 shares of the information technology services provider’s stock valued at $179,944,000 after purchasing an additional 429,644 shares in the last quarter. Finally, Capital World Investors lifted its holdings in shares of EPAM Systems by 22.0% in the 4th quarter. Capital World Investors now owns 2,304,243 shares of the information technology services provider’s stock worth $538,778,000 after buying an additional 414,942 shares during the period. Institutional investors own 91.58% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Barclays lowered their price objective on shares of EPAM Systems from $270.00 to $200.00 and set an “overweight” rating for the company in a research note on Friday, April 25th. Scotiabank cut their price target on shares of EPAM Systems from $250.00 to $200.00 and set a “sector outperform” rating on the stock in a report on Tuesday, April 29th. Jefferies Financial Group lowered their price objective on EPAM Systems from $305.00 to $288.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Guggenheim increased their price target on EPAM Systems from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Friday. Finally, Stifel Nicolaus dropped their price target on EPAM Systems from $275.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Eight 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, the company presently has an average rating of “Moderate Buy” and an average target price of $228.94.

EPAM Systems Stock Down 1.6 %

Shares of EPAM stock opened at $176.87 on Friday. The company has a current ratio of 2.96, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01. EPAM Systems, Inc. has a twelve month low of $138.15 and a twelve month high of $269.00. The stock has a 50 day moving average of $165.80 and a 200 day moving average of $210.92. The stock has a market cap of $10.09 billion, a P/E ratio of 22.56, a P/E/G ratio of 3.38 and a beta of 1.71.

EPAM Systems (NYSE:EPAM) last posted its earnings results on Thursday, May 8th. The information technology services provider reported $2.41 earnings per share (EPS) for the quarter, beating 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 period in the previous year, the business posted $2.46 EPS. The business’s revenue was up 11.7% compared to the same quarter last year. As a group, sell-side analysts expect that EPAM Systems, Inc. will post 8.9 EPS for the current year.

EPAM Systems Profile

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.