Should You Consider Buying EPAM Systems (EPAM) Shares?

Baron Funds, an asset management firm, published its “Baron FinTech Fund” fourth quarter 2021 investor letter – a copy of which can be downloaded here. A return of 2.53% was delivered by the fund’s institutional shares for the fourth quarter of 2021, compared to its benchmarks, the S&P 500 Index, which appreciated 11.03%, and the FactSet Global FinTech Index which rose 7.68% for the same period. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

Baron FinTech Fund, in its Q4 2021 investor letter, mentioned  EPAM Systems, Inc. (NYSE:EPAM) and discussed its stance on the firm. Founded in 1993, EPAM Systems, Inc. (NYSE:EPAM) is a Newtown, Pennsylvania-based software engineering company with an $11.3 billion market capitalization, and is currently spearheaded by its CEO, Arkadiy Dobkin. EPAM Systems, Inc. (NYSE:EPAM) delivered a -70.06% return since the beginning of the year, while its 12-month returns are down by -46.28%. The stock closed at $200.14 per share on March 11, 2022.

Here is what Baron FinTech Fund has to say about EPAM Systems, Inc. (NYSE:EPAM) in its Q4 2021 investor letter:

“Outsourced software developer EPAM Systems, Inc. led the group after reporting outstanding quarterly financial results and raising full-year guidance to reflect strong client demand across all market segments.

EPAM Systems, Inc. provides outsourced software development to business customers. Shares rose on quarterly results that beat Street forecasts, with 52% revenue growth and 47% EPS growth. Management raised full-year financial guidance to reflect strong client demand across all market segments, and it expects organic revenue growth to exceed 20% over the long term with upside from accretive acquisitions. We continue to own the stock due to EPAM’s long runway for growth and strong execution.”

Photo by Danial Igdery on Unsplash

Our calculations show that EPAM Systems, Inc. (NYSE:EPAM) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. EPAM Systems, Inc. (NYSE:EPAM) was in 38 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 42 funds in the previous quarter. EPAM Systems, Inc. (NYSE:EPAM) delivered a -70.78% return in the past 3 months.

In September 2021, we also shared another hedge fund’s views on EPAM Systems, Inc. (NYSE:EPAM) in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

Disclosure: None. This article is originally published at Insider Monkey.