Virginia Retirement Systems ET AL boosted its position in EPAM Systems Inc (NYSE:EPAM) by 515.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 75,100 shares of the information technology services provider’s stock after acquiring an additional 62,900 shares during the quarter. Virginia Retirement Systems ET AL owned 0.14% of EPAM Systems worth $13,000,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in EPAM. Norges Bank purchased a new position in EPAM Systems in the fourth quarter valued at about $60,882,000. OppenheimerFunds Inc. raised its position in EPAM Systems by 11.7% in the first quarter. OppenheimerFunds Inc. now owns 1,581,263 shares of the information technology services provider’s stock valued at $267,438,000 after purchasing an additional 165,855 shares during the period. Robeco Institutional Asset Management B.V. raised its position in EPAM Systems by 123.2% in the second quarter. Robeco Institutional Asset Management B.V. now owns 243,403 shares of the information technology services provider’s stock valued at $42,134,000 after purchasing an additional 134,335 shares during the period. Bessemer Group Inc. raised its position in EPAM Systems by 1,297.5% in the second quarter. Bessemer Group Inc. now owns 131,367 shares of the information technology services provider’s stock valued at $22,740,000 after purchasing an additional 121,967 shares during the period. Finally, Janus Henderson Group PLC raised its position in EPAM Systems by 146.3% in the first quarter. Janus Henderson Group PLC now owns 128,320 shares of the information technology services provider’s stock valued at $21,703,000 after purchasing an additional 76,231 shares during the period. 92.00% of the stock is currently owned by institutional investors.
Several research analysts have commented on the company. Zacks Investment Research lowered EPAM Systems from a “buy” rating to a “hold” rating and set a $198.00 price objective on the stock. in a research report on Wednesday, July 10th. Wedbush reissued an “outperform” rating and issued a $180.00 price objective (up from $158.00) on shares of EPAM Systems in a research report on Wednesday, May 8th. Finally, Cowen raised their price objective on EPAM Systems from $180.00 to $210.00 and gave the company a “positive” rating in a research report on Wednesday, July 24th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $166.40.
In related news, VP Gary C. Abrahams sold 361 shares of EPAM Systems stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $177.16, for a total value of $63,954.76. Following the completion of the transaction, the vice president now directly owns 2,710 shares in the company, valued at $480,103.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Arkadiy Dobkin sold 15,592 shares of EPAM Systems stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $172.27, for a total value of $2,686,033.84. Following the completion of the transaction, the chief executive officer now owns 1,443,490 shares of the company’s stock, valued at $248,670,022.30. The disclosure for this sale can be found here. Insiders sold 362,189 shares of company stock valued at $63,001,372 over the last quarter. Insiders own 5.40% of the company’s stock.
Shares of NYSE EPAM traded down $1.12 during midday trading on Wednesday, reaching $178.79. 9,136 shares of the company’s stock were exchanged, compared to its average volume of 408,618. EPAM Systems Inc has a 52-week low of $104.77 and a 52-week high of $201.00. The company has a market capitalization of $9.81 billion, a PE ratio of 45.77, a PEG ratio of 2.27 and a beta of 1.38. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.41 and a quick ratio of 4.41. The stock’s fifty day moving average price is $185.66.
EPAM Systems (NYSE:EPAM) last announced its earnings results on Thursday, May 9th. The information technology services provider reported $1.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.33. The business had revenue of $521.30 million for the quarter, compared to analyst estimates of $519.11 million. EPAM Systems had a return on equity of 19.56% and a net margin of 12.19%. The company’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.93 earnings per share. As a group, analysts expect that EPAM Systems Inc will post 4.24 EPS for the current year.
EPAM Systems Company 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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