EPAM Systems, Inc. $EPAM Shares Sold by Assetmark Inc.

Assetmark Inc. lessened its stake in shares of EPAM Systems, Inc. (NYSE:EPAM) by 4.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,295 shares of the information technology services provider’s stock after selling 320 shares during the quarter. Assetmark Inc.’s holdings in EPAM Systems were worth $1,290,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of EPAM. Wealth Enhancement Advisory Services LLC increased its stake in EPAM Systems by 85.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 7,107 shares of the information technology services provider’s stock worth $1,299,000 after purchasing an additional 3,275 shares during the period. Pacific Capital Partners Ltd lifted its position in shares of EPAM Systems by 12.5% during the 2nd quarter. Pacific Capital Partners Ltd now owns 22,500 shares of the information technology services provider’s stock worth $3,978,000 after purchasing an additional 2,500 shares during the last quarter. Liontrust Investment Partners LLP acquired a new position in shares of EPAM Systems during the 1st quarter worth about $6,486,000. Leeward Investments LLC MA boosted its holdings in EPAM Systems by 16.9% in the second quarter. Leeward Investments LLC MA now owns 53,725 shares of the information technology services provider’s stock valued at $9,500,000 after purchasing an additional 7,757 shares in the last quarter. Finally, Whalen Wealth Management Inc. purchased a new position in shares of EPAM Systems in the 2nd quarter valued at $1,301,000. 91.58% of the stock is owned by institutional investors and hedge funds.

EPAM Systems Stock Up 1.5%

EPAM opened at $160.80 on Thursday. The firm has a 50 day moving average price of $157.00 and a 200 day moving average price of $164.96. EPAM Systems, Inc. has a 1 year low of $138.15 and a 1 year high of $269.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.17 and a current ratio of 3.17. The company has a market cap of $8.96 billion, a PE ratio of 22.94, a price-to-earnings-growth ratio of 2.36 and a beta of 1.67.

EPAM Systems (NYSE:EPAM) last announced its quarterly earnings results on Thursday, August 7th. The information technology services provider reported $2.77 earnings per share for the quarter, topping analysts’ consensus estimates of $2.61 by $0.16. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.33 billion. EPAM Systems had a net margin of 7.91% and a return on equity of 14.00%. The firm’s revenue was up 18.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.45 EPS. Sell-side analysts expect that EPAM Systems, Inc. will post 8.9 earnings per share for the current year.

EPAM Systems announced that its Board of Directors has initiated a share buyback program on Tuesday, October 21st that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the information technology services provider to purchase up to 12.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Insider Activity at EPAM Systems

In other news, SVP Sergey Yezhkov sold 1,511 shares of the company’s stock in a transaction on Tuesday, October 21st. The shares were sold at an average price of $150.27, for a total value of $227,057.97. Following the completion of the transaction, the senior vice president directly owned 146 shares in the company, valued at approximately $21,939.42. This represents a 91.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on EPAM. Cowen upgraded EPAM Systems from a “hold” rating to a “buy” rating in a research note on Monday, August 18th. TD Cowen raised EPAM Systems from a “hold” rating to a “buy” rating and set a $205.00 target price for the company in a research note on Monday, August 18th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of EPAM Systems in a report on Thursday, July 17th. They set a “hold” rating and a $171.00 price objective on the stock. Citigroup upgraded EPAM Systems to a “hold” rating in a research report on Thursday, October 23rd. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of EPAM Systems in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $219.41.

EPAM Systems Company Profile

EPAM Systems, Inc provides digital platform engineering and software development services worldwide. 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, performance tuning, deployment, maintenance, and support services.