Wishbone Management Acquires $15.08 Million Stake in EPAM Systems
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2h ago
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Source: Fool
- New Investment Position: Wishbone Management initiated a new position in EPAM Systems by acquiring 100,000 shares valued at $15.08 million in Q3, marking the fund's entry into the IT services sector, despite holding only four positions overall.
- Asset Allocation Insight: This investment represents 8.11% of Wishbone's 13F reportable assets as of September 30, indicating a strategic focus on EPAM, even as the company's stock has declined 12% over the past year.
- Financial Performance Highlight: EPAM reported $1.394 billion in Q3 revenue, a 19.4% year-over-year increase, and raised its full-year outlook, projecting revenue of approximately $5.43 billion to $5.45 billion for 2025, showcasing strong growth potential.
- Buyback Program: EPAM repurchased $82.1 million of its stock during the quarter and authorized an additional $1 billion buyback program, reflecting the company's confidence in its value and commitment to shareholders.
Analyst Views on EPAM
Wall Street analysts forecast EPAM stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for EPAM is 207.10 USD with a low forecast of 170.00 USD and a high forecast of 246.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
11 Analyst Rating
9 Buy
2 Hold
0 Sell
Strong Buy
Current: 206.310
Low
170.00
Averages
207.10
High
246.00
Current: 206.310
Low
170.00
Averages
207.10
High
246.00
About EPAM
EPAM Systems, Inc. is a global provider of digital engineering, cloud and AI-enabled transformation services, and is a business and experience consulting partner for global enterprises and startups. The Company addresses its clients’ transformation challenges by fusing EPAM Continuum’s integrated strategy, experience and technology consulting. Through platforms like EPAM AI/RUN and initiatives like DIALX Lab, the Company integrates advanced AI technologies into tailored business strategies, driving industry impact and fostering continuous innovation. Its strategy services include optimizing for growth, talent enablement, mergers & acquisitions, project to product, generative AI advisory, and transformative research & insights. Its engineering services include platform & product development, agile ways of working, quality engineering, open source, and metaverse. It serves various industries, including financial services; telecom, media & entertainment, and life sciences & healthcare.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
