TrinityPoint Wealth LLC Takes Position in EPAM Systems, Inc. (NYSE:EPAM)

TrinityPoint Wealth LLC acquired a new stake in shares of EPAM Systems, Inc. (NYSE:EPAM) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 401 shares of the information technology services provider’s stock, valued at approximately $205,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the business. Toroso Investments LLC bought a new position in EPAM Systems during the second quarter valued at approximately $226,000. Affinity Capital Advisors LLC acquired a new stake in EPAM Systems during the second quarter worth $254,000. LPL Financial LLC boosted its stake in EPAM Systems by 7.7% during the second quarter. LPL Financial LLC now owns 7,538 shares of the information technology services provider’s stock worth $3,852,000 after buying an additional 539 shares in the last quarter. Stifel Financial Corp lifted its holdings in shares of EPAM Systems by 65.8% during the second quarter. Stifel Financial Corp now owns 31,048 shares of the information technology services provider’s stock valued at $15,865,000 after acquiring an additional 12,322 shares during the period. Finally, Blueshift Asset Management LLC bought a new position in shares of EPAM Systems during the second quarter valued at $3,153,000. Institutional investors own 91.55% of the company’s stock.

Shares of NYSE:EPAM opened at $597.28 on Thursday. The firm has a market capitalization of $33.82 billion, a P/E ratio of 87.86, a P/E/G ratio of 3.32 and a beta of 1.36. The stock has a 50 day moving average price of $610.64 and a 200-day moving average price of $528.78. EPAM Systems, Inc. has a 52-week low of $305.83 and a 52-week high of $648.72.

EPAM Systems (NYSE:EPAM) last released its quarterly earnings results on Thursday, August 5th. The information technology services provider reported $2.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.94 by $0.11. The firm had revenue of $881.40 million for the quarter, compared to the consensus estimate of $861.36 million. EPAM Systems had a return on equity of 18.89% and a net margin of 13.12%. The company’s revenue for the quarter was up 39.4% on a year-over-year basis. During the same period last year, the business posted $1.46 EPS. On average, analysts forecast that EPAM Systems, Inc. will post 7.13 earnings per share for the current fiscal year.

EPAM has been the subject of several recent research reports. William Blair reissued a “buy” rating on shares of EPAM Systems in a report on Tuesday, August 3rd. Citigroup increased their target price on EPAM Systems from $520.00 to $620.00 and gave the stock a “buy” rating in a report on Wednesday, July 14th. Morgan Stanley raised their price objective on EPAM Systems from $510.00 to $700.00 and gave the company an “overweight” rating in a research note on Monday, August 9th. Piper Sandler increased their target price on EPAM Systems from $517.00 to $689.00 and gave the company an “overweight” rating in a research report on Friday, August 6th. Finally, Zacks Investment Research downgraded EPAM Systems from a “buy” rating to a “hold” rating and set a $607.00 price objective for the company. in a research report on Wednesday, October 6th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, EPAM Systems currently has a consensus rating of “Buy” and an average price target of $571.00.

In other news, SVP Boris Shnayder sold 1,250 shares of EPAM Systems stock in a transaction that occurred on Wednesday, September 15th. The shares were sold at an average price of $622.74, for a total transaction of $778,425.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Karl Robb sold 2,044 shares of the business’s stock in a transaction that occurred on Wednesday, August 11th. The stock was sold at an average price of $601.09, for a total transaction of $1,228,627.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,937 shares of company stock worth $3,610,997. Insiders own 4.80% of the company’s stock.

EPAM Systems Company Profile

EPAM Systems, Inc engages in the provision of software product development and digital platform engineering services. It operates through the following geographical segments: North America, Europe, and Russia. The company was founded by Leonid Lozner and Arkadiy Dobkin in 1993 and is headquartered in Newtown, PA.

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

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