Sanibel Captiva Trust Company Inc. trimmed its position in EPAM Systems, Inc. (NYSE:EPAM – Free Report) by 49.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,085 shares of the information technology services provider’s stock after selling 1,077 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in EPAM Systems were worth $204,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in the company. Atria Wealth Solutions Inc. increased its stake in shares of EPAM Systems by 3.3% in the 4th quarter. Atria Wealth Solutions Inc. now owns 1,235 shares of the information technology services provider’s stock worth $367,000 after purchasing an additional 40 shares in the last quarter. Equitable Trust Co. increased its position in EPAM Systems by 0.8% in the first quarter. Equitable Trust Co. now owns 5,941 shares of the information technology services provider’s stock worth $1,641,000 after buying an additional 46 shares in the last quarter. Czech National Bank raised its stake in shares of EPAM Systems by 0.5% in the first quarter. Czech National Bank now owns 10,152 shares of the information technology services provider’s stock worth $2,804,000 after buying an additional 46 shares during the period. Meridian Management Co. lifted its position in shares of EPAM Systems by 0.6% during the 4th quarter. Meridian Management Co. now owns 8,287 shares of the information technology services provider’s stock valued at $2,372,000 after buying an additional 48 shares in the last quarter. Finally, Motley Fool Asset Management LLC grew its stake in shares of EPAM Systems by 5.2% during the 1st quarter. Motley Fool Asset Management LLC now owns 1,124 shares of the information technology services provider’s stock valued at $310,000 after acquiring an additional 56 shares during the period. 91.58% of the stock is currently owned by institutional investors.
EPAM Systems Trading Up 0.3 %
Shares of EPAM stock traded up $0.55 on Wednesday, reaching $200.28. 55,032 shares of the company’s stock were exchanged, compared to its average volume of 627,917. The company’s fifty day simple moving average is $194.75 and its 200 day simple moving average is $232.28. The stock has a market capitalization of $11.61 billion, a PE ratio of 27.43, a P/E/G ratio of 4.97 and a beta of 1.45. The company has a current ratio of 4.68, a quick ratio of 4.68 and a debt-to-equity ratio of 0.01. EPAM Systems, Inc. has a 52 week low of $169.43 and a 52 week high of $317.50.
EPAM Systems declared that its board has initiated a share repurchase program on Thursday, August 8th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the information technology services provider to reacquire up to 4.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on the stock. Wolfe Research downgraded shares of EPAM Systems from an “outperform” rating to a “peer perform” rating in a report on Friday, May 17th. Morgan Stanley upgraded shares of EPAM Systems from an “underweight” rating to an “equal weight” rating and lowered their target price for the company from $236.00 to $225.00 in a research note on Friday, April 26th. Mizuho cut their price target on EPAM Systems from $345.00 to $258.00 and set a “buy” rating for the company in a research note on Tuesday, May 14th. The Goldman Sachs Group assumed coverage on EPAM Systems in a report on Monday, June 24th. They set a “neutral” rating and a $200.00 price target on the stock. Finally, Needham & Company LLC dropped their price objective on EPAM Systems from $350.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $263.33.
View Our Latest Report on EPAM
EPAM Systems 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.
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