Fintel reports that on July 17, 2023, HSBC initiated coverage of EPAM Systems (NYSE:EPAM) with a Hold recommendation.
Analyst Price Forecast Suggests 8.35% Upside
As of July 6, 2023, the average one-year price target for EPAM Systems is 262.14. The forecasts range from a low of 217.15 to a high of $405.30. The average price target represents an increase of 8.35% from its latest reported closing price of 241.94.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for EPAM Systems is 5,779MM, an increase of 18.81%. The projected annual non-GAAP EPS is 12.74.
What is the Fund Sentiment?
There are 1305 funds or institutions reporting positions in EPAM Systems. This is a decrease of 42 owner(s) or 3.12% in the last quarter. Average portfolio weight of all funds dedicated to EPAM is 0.24%, a decrease of 27.67%. Total shares owned by institutions decreased in the last three months by 0.71% to 67,176K shares. 
The put/call ratio of EPAM is 1.04, indicating a bearish outlook.
What are Other Shareholders Doing?
Capital Research Global Investors holds 6,841K shares representing 11.81% ownership of the company. In it's prior filing, the firm reported owning 6,841K shares, representing an increase of 0.01%. The firm decreased its portfolio allocation in EPAM by 13.85% over the last quarter.
Alliancebernstein holds 3,570K shares representing 6.17% ownership of the company. In it's prior filing, the firm reported owning 3,489K shares, representing an increase of 2.27%. The firm decreased its portfolio allocation in EPAM by 11.13% over the last quarter.
Wcm Investment Management holds 2,895K shares representing 5.00% ownership of the company. In it's prior filing, the firm reported owning 2,797K shares, representing an increase of 3.39%. The firm decreased its portfolio allocation in EPAM by 27.07% over the last quarter.
Capital World Investors holds 2,531K shares representing 4.37% ownership of the company. In it's prior filing, the firm reported owning 2,112K shares, representing an increase of 16.57%. The firm increased its portfolio allocation in EPAM by 6.03% over the last quarter.
Jpmorgan Chase holds 2,150K shares representing 3.71% ownership of the company. In it's prior filing, the firm reported owning 2,527K shares, representing a decrease of 17.55%. The firm decreased its portfolio allocation in EPAM by 28.28% over the last quarter.
EPAM Systems Background Information
(This description is provided by the company.)
Since 1993, EPAM Systems, Inc. has leveraged its software engineering expertise to become a leading global product development, digital platform engineering, and top digital and product design agency. Through its 'Engineering DNA' and innovative strategy, consulting, and design capabilities, EPAM works in collaboration with its customers to deliver next-gen solutions that turn complex business challenges into real business outcomes. EPAM's global teams serve customers in more than 35 countries across North America, Europe, Asia and Australia. As a recognized market leader in multiple categories among top global independent research agencies, EPAM was one of only four technology companies to appear on Forbes 25 Fastest Growing Public Tech Companies list every year of publication since 2013 and ranked as the top IT services company on Fortune's 100 Fastest-Growing Companies list of 2019 and 2020.
Additional reading:
- #10388242v3 AMENDED AND RESTATED BYLAWS OF EPAM SYSTEMS, INC. ARTICLE 1 OFFICES Section 1.01. Registered Office. The registered office of EPAM Systems, Inc. (the “Corporation”) shall be in the City of Wilmington, County of New Castle, State of Delawa
- Exhibit 99.1 41 University Drive, Suite 202 Newtown, PA 18940 press@epam.com EPAM Welcomes Chandra McMahon to its Board of Directors Bringing extensive cybersecurity expertise and a diverse background working in software development, IT solutions and
- SYSTEMS, INC. AND SUBSIDIARIES Reconciliations of Guidance Non-GAAP Financial Measures to Comparable GAAP Financial Measures
- EPAM SYSTEMS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF INCOME (In thousands, except per share data)
- EPAM Reports Results Q 1 2 0 2 3 0.5% 3.0% O U T L O O K Q 2 2 0 2 3 O U T L O O K F Y 2 0 2 3Q 1 R E V E N U E S YoY (reported) YoY (constant currency) $1.211B 3.4% 4.9% YoY (midpoint of the range) YoY (midpoint of the range) $1.195B-$1.205B $4.950B
This story originally appeared on Fintel.
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