Parametric Portfolio Associates LLC decreased its stake in EPAM Systems, Inc. (NYSE:EPAM) by 34.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 20,186 shares of the information technology services provider’s stock after selling 10,496 shares during the period. Parametric Portfolio Associates LLC’s holdings in EPAM Systems were worth $1,524,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in EPAM. Denver Investment Advisors LLC purchased a new position in EPAM Systems during the first quarter worth approximately $921,000. Commerce Bank raised its stake in EPAM Systems by 38.1% in the first quarter. Commerce Bank now owns 9,101 shares of the information technology services provider’s stock worth $687,000 after buying an additional 2,510 shares during the period. Teza Capital Management LLC bought a new stake in EPAM Systems during the first quarter worth about $366,000. Meadow Creek Investment Management LLC raised its stake in EPAM Systems by 19.0% in the first quarter. Meadow Creek Investment Management LLC now owns 44,858 shares of the information technology services provider’s stock worth $3,388,000 after buying an additional 7,150 shares during the period. Finally, BARING ASSET MANAGEMENT Ltd raised its stake in EPAM Systems by 43.0% in the first quarter. BARING ASSET MANAGEMENT Ltd now owns 188,777 shares of the information technology services provider’s stock worth $14,256,000 after buying an additional 56,772 shares during the period. Hedge funds and other institutional investors own 97.72% of the company’s stock.
Shares of EPAM Systems, Inc. (EPAM) opened at 83.80 on Tuesday. EPAM Systems, Inc. has a 12 month low of $54.53 and a 12 month high of $86.97. The firm has a market cap of $4.34 billion, a PE ratio of 45.05 and a beta of 0.99. The firm has a 50 day moving average price of $83.01 and a 200-day moving average price of $73.77.
EPAM Systems (NYSE:EPAM) last announced its quarterly earnings data on Thursday, May 4th. The information technology services provider reported $0.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.22. The company had revenue of $324.65 million during the quarter, compared to analysts’ expectations of $316.64 million. EPAM Systems had a return on equity of 11.70% and a net margin of 8.11%. EPAM Systems’s revenue for the quarter was up 22.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.66 EPS. On average, analysts predict that EPAM Systems, Inc. will post $3.43 EPS for the current fiscal year.
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A number of equities research analysts have weighed in on the company. Credit Suisse Group assumed coverage on EPAM Systems in a research note on Tuesday, July 4th. They set an “outperform” rating and a $90.00 price objective for the company. Wedbush lifted their target price on EPAM Systems from $82.00 to $90.00 and gave the stock an “outperform” rating in a research report on Monday, May 15th. Barclays PLC raised their price target on EPAM Systems from $80.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday, May 15th. Monness Crespi & Hardt raised their price target on EPAM Systems from $82.00 to $91.00 and gave the stock a “buy” rating in a report on Wednesday, May 10th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $90.00 price target (up previously from $82.00) on shares of EPAM Systems in a report on Friday, May 5th. Eight investment analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and a consensus target price of $86.25.
In related news, insider Elaina Shekhter sold 2,875 shares of the firm’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $80.63, for a total value of $231,811.25. Following the completion of the sale, the insider now directly owns 12,219 shares in the company, valued at approximately $985,217.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Arkadiy Dobkin sold 5,000 shares of the firm’s stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $77.36, for a total transaction of $386,800.00. Following the completion of the sale, the chief executive officer now owns 2,150,164 shares of the company’s stock, valued at $166,336,687.04. The disclosure for this sale can be found here. Insiders sold a total of 83,164 shares of company stock valued at $6,935,396 over the last quarter. 6.17% of the stock is currently owned by company insiders.
EPAM Systems Company Profile
EPAM Systems, Inc is a g provider of software product development and digital platform engineering services to clients located primarily in North America, Europe, Asia and Australia. The Company’s service offerings cover the full software product development lifecycle from digital strategy and customer experience design to enterprise application platforms implementation and program management services and from complex software development services to maintenance, support, custom application development, application testing, and infrastructure management.
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