Chartwell Investment Partners LLC Invests $1.26 Million in EPAM Systems Inc (EPAM)

Chartwell Investment Partners LLC acquired a new position in shares of EPAM Systems Inc (NYSE:EPAM) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,446 shares of the information technology services provider’s stock, valued at approximately $1,259,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Utah Retirement Systems lifted its position in EPAM Systems by 1.1% during the fourth quarter. Utah Retirement Systems now owns 9,500 shares of the information technology services provider’s stock worth $1,102,000 after purchasing an additional 100 shares during the period. State of Alaska Department of Revenue lifted its position in EPAM Systems by 1.9% during the fourth quarter. State of Alaska Department of Revenue now owns 6,331 shares of the information technology services provider’s stock worth $734,000 after purchasing an additional 117 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in EPAM Systems by 3.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,370 shares of the information technology services provider’s stock worth $507,000 after purchasing an additional 143 shares during the period. Campbell Newman Asset Management Inc. raised its stake in EPAM Systems by 2.5% during the first quarter. Campbell Newman Asset Management Inc. now owns 6,493 shares of the information technology services provider’s stock worth $1,098,000 after acquiring an additional 156 shares in the last quarter. Finally, Renaissance Group LLC raised its stake in EPAM Systems by 4.1% during the fourth quarter. Renaissance Group LLC now owns 4,476 shares of the information technology services provider’s stock worth $519,000 after acquiring an additional 178 shares in the last quarter. 94.18% of the stock is owned by institutional investors and hedge funds.

In other news, Director Ronald P. Vargo sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $159.64, for a total value of $319,280.00. Following the completion of the transaction, the director now owns 10,276 shares of the company’s stock, valued at $1,640,460.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Boris Shnayder sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $159.90, for a total value of $2,398,500.00. Following the completion of the transaction, the senior vice president now directly owns 37,508 shares of the company’s stock, valued at approximately $5,997,529.20. The disclosure for this sale can be found here. Corporate insiders own 5.30% of the company’s stock.

Shares of NYSE EPAM opened at $172.28 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.56 and a quick ratio of 4.56. The stock has a market cap of $9.40 billion, a price-to-earnings ratio of 44.06, a price-to-earnings-growth ratio of 2.14 and a beta of 1.65. EPAM Systems Inc has a 12 month low of $104.77 and a 12 month high of $176.06.

EPAM Systems (NYSE:EPAM) last released its quarterly earnings data on Thursday, February 14th. The information technology services provider reported $1.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.24. EPAM Systems had a return on equity of 19.23% and a net margin of 13.04%. The company had revenue of $504.90 million during the quarter, compared to the consensus estimate of $501.43 million. During the same quarter in the prior year, the firm posted $1.01 earnings per share. The firm’s revenue was up 26.4% compared to the same quarter last year. On average, sell-side analysts predict that EPAM Systems Inc will post 4.19 earnings per share for the current year.

Several research analysts have commented on EPAM shares. Zacks Investment Research downgraded EPAM Systems from a “buy” rating to a “hold” rating in a research note on Monday, January 28th. VTB Capital downgraded EPAM Systems from a “hold” rating to a “sell” rating in a research note on Friday, February 15th. KeyCorp boosted their target price on EPAM Systems from $144.00 to $164.00 and gave the stock an “overweight” rating in a research note on Monday, February 11th. Finally, JPMorgan Chase & Co. boosted their target price on EPAM Systems to $167.00 and gave the stock an “overweight” rating in a research note on Friday, February 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. EPAM Systems presently has an average rating of “Buy” and a consensus price target of $154.73.

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EPAM Systems Profile

EPAM Systems, Inc provides software product development and digital platform engineering services primarily in North America, Europe, Armenia, Belarus, Kazakhstan, Russia, Ukraine, Asia, and Australia. 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, and maintenance with private, public, and mobile infrastructures for application, database, network, server, storage, and systems operations management, as well as monitoring, incident notification, and resolution services; and maintenance and support services.

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Institutional Ownership by Quarter for EPAM Systems (NYSE:EPAM)

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