GW&K Investment Management LLC cut its stake in EPAM Systems, Inc. (NYSE:EPAM) by 2.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 546,126 shares of the information technology services provider’s stock after selling 15,569 shares during the period. GW&K Investment Management LLC owned about 1.05% of EPAM Systems worth $45,924,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Creative Planning raised its stake in shares of EPAM Systems by 1,101.2% in the first quarter. Creative Planning now owns 2,018 shares of the information technology services provider’s stock valued at $152,000 after buying an additional 1,850 shares during the last quarter. Atria Investments LLC purchased a new stake in shares of EPAM Systems during the second quarter valued at approximately $206,000. Westpac Banking Corp purchased a new stake in shares of EPAM Systems during the first quarter valued at approximately $197,000. Candriam Luxembourg S.C.A. purchased a new stake in shares of EPAM Systems during the first quarter valued at approximately $204,000. Finally, S&CO Inc. purchased a new stake in shares of EPAM Systems during the first quarter valued at approximately $227,000. Hedge funds and other institutional investors own 97.75% of the company’s stock.
EPAM Systems, Inc. (EPAM) traded up 0.59% during mid-day trading on Tuesday, reaching $83.33. The company’s stock had a trading volume of 209,116 shares. EPAM Systems, Inc. has a one year low of $54.53 and a one year high of $86.97. The stock has a 50-day moving average price of $83.01 and a 200-day moving average price of $73.77. The company has a market capitalization of $4.32 billion, a price-to-earnings ratio of 44.80 and a beta of 0.99.
EPAM Systems (NYSE:EPAM) last released its quarterly earnings data on Thursday, May 4th. The information technology services provider reported $0.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.22. The business had revenue of $324.65 million during the quarter, compared to analyst estimates of $316.64 million. EPAM Systems had a return on equity of 11.70% and a net margin of 8.11%. The company’s revenue was up 22.8% on a year-over-year basis. During the same quarter last year, the business posted $0.66 EPS. Equities research analysts forecast that EPAM Systems, Inc. will post $3.43 EPS for the current year.
Several analysts recently commented on EPAM shares. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $78.00 price objective on shares of EPAM Systems in a report on Thursday, May 4th. Wedbush lifted their price objective on EPAM Systems from $82.00 to $90.00 and gave the stock an “outperform” rating in a report on Monday, May 8th. Barclays PLC reaffirmed an “overweight” rating and issued a $84.00 price objective (up previously from $80.00) on shares of EPAM Systems in a report on Friday, May 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price objective (up previously from $82.00) on shares of EPAM Systems in a report on Friday, May 5th. Finally, Zacks Investment Research lowered EPAM Systems from a “hold” rating to a “sell” rating in a report on Tuesday, April 18th. Eight equities research analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and a consensus target price of $86.25.
In other news, SVP Ginger Mosier sold 26,055 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $85.65, for a total transaction of $2,231,610.75. Following the sale, the senior vice president now directly owns 12,733 shares in the company, valued at approximately $1,090,581.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Balazs Fejes sold 34,234 shares of the firm’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $84.76, for a total value of $2,901,673.84. Following the sale, the senior vice president now owns 48,467 shares in the company, valued at $4,108,062.92. The disclosure for this sale can be found here. Insiders have sold a total of 88,164 shares of company stock valued at $7,311,796 in the last quarter. Company insiders own 6.17% of the company’s stock.
EPAM Systems Company Profile
EPAM Systems, Inc is a g provider of software product development and digital platform engineering services to clients located primarily in North America, Europe, Asia and Australia. The Company’s service offerings cover the full software product development lifecycle from digital strategy and customer experience design to enterprise application platforms implementation and program management services and from complex software development services to maintenance, support, custom application development, application testing, and infrastructure management.
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