Executive Wealth Management LLC Purchases New Holdings in EPAM Systems Inc (NYSE:EPAM)

Executive Wealth Management LLC purchased a new stake in EPAM Systems Inc (NYSE:EPAM) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,225 shares of the information technology services provider’s stock, valued at approximately $1,365,000.

Several other large investors have also recently modified their holdings of the stock. Skandinaviska Enskilda Banken AB publ grew its stake in EPAM Systems by 15.5% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 8,180 shares of the information technology services provider’s stock valued at $1,519,000 after buying an additional 1,100 shares during the last quarter. Raymond James & Associates grew its position in EPAM Systems by 4.1% in the 2nd quarter. Raymond James & Associates now owns 66,430 shares of the information technology services provider’s stock worth $16,741,000 after purchasing an additional 2,624 shares during the last quarter. AXA grew its position in EPAM Systems by 217.5% in the 1st quarter. AXA now owns 157,937 shares of the information technology services provider’s stock worth $29,323,000 after purchasing an additional 108,199 shares during the last quarter. Envestnet Asset Management Inc. grew its position in EPAM Systems by 5.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 51,434 shares of the information technology services provider’s stock worth $12,962,000 after purchasing an additional 2,820 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in EPAM Systems by 84.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 15,886 shares of the information technology services provider’s stock worth $2,949,000 after purchasing an additional 7,295 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

In other news, CFO Jason D. Peterson sold 3,342 shares of EPAM Systems stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $330.88, for a total transaction of $1,105,800.96. Also, EVP Balazs Fejes sold 3,109 shares of EPAM Systems stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $322.02, for a total transaction of $1,001,160.18. Following the sale, the executive vice president now owns 9,383 shares of the company’s stock, valued at approximately $3,021,513.66. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,201 shares of company stock valued at $4,315,494. Insiders own 4.80% of the company’s stock.

Shares of NYSE EPAM traded down $9.65 during trading on Monday, reaching $329.40. The company had a trading volume of 1,074 shares, compared to its average volume of 347,496. EPAM Systems Inc has a 52 week low of $151.97 and a 52 week high of $356.48. The stock has a market cap of $18.94 billion, a PE ratio of 67.01, a PEG ratio of 4.48 and a beta of 1.38. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.37 and a current ratio of 4.37. The business’s 50 day moving average price is $328.86 and its 200-day moving average price is $269.62.

EPAM Systems (NYSE:EPAM) last announced its earnings results on Thursday, August 6th. The information technology services provider reported $1.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.49. EPAM Systems had a net margin of 11.73% and a return on equity of 18.45%. The company had revenue of $632.40 million during the quarter, compared to the consensus estimate of $596.71 million. During the same period in the previous year, the firm posted $1.28 earnings per share. The company’s revenue was up 14.6% on a year-over-year basis. Equities analysts anticipate that EPAM Systems Inc will post 4.91 earnings per share for the current year.

Several analysts have issued reports on EPAM shares. Stifel Nicolaus raised their price target on shares of EPAM Systems from $275.00 to $357.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Piper Sandler raised their price target on shares of EPAM Systems from $258.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 28th. Needham & Company LLC raised their price objective on shares of EPAM Systems from $350.00 to $370.00 and gave the stock a “buy” rating in a report on Thursday, August 27th. Morgan Stanley raised their price objective on shares of EPAM Systems from $370.00 to $390.00 and gave the stock an “overweight” rating in a report on Tuesday, October 13th. Finally, VTB Capital downgraded shares of EPAM Systems from a “hold” rating to a “sell” rating in a report on Wednesday, August 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $289.79.

About EPAM Systems

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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