Vanguard Group Inc. grew its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 2.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,919,515 shares of the information technology services provider’s stock after buying an additional 105,644 shares during the quarter. Vanguard Group Inc. owned 7.56% of EPAM Systems worth $329,591,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also modified their holdings of EPAM. Acrospire Investment Management LLC bought a new stake in EPAM Systems during the 2nd quarter valued at $101,000. Jacobi Capital Management LLC bought a new stake in EPAM Systems during the 2nd quarter valued at $119,000. PNC Financial Services Group Inc. grew its position in shares of EPAM Systems by 34.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,462 shares of the information technology services provider’s stock valued at $123,000 after purchasing an additional 378 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of EPAM Systems by 11.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,591 shares of the information technology services provider’s stock valued at $134,000 after purchasing an additional 166 shares in the last quarter. Finally, US Bancorp DE grew its position in EPAM Systems by 1,762.5% in the second quarter. US Bancorp DE now owns 2,086 shares of the information technology services provider’s stock worth $175,000 after acquiring an additional 1,974 shares in the last quarter. 87.82% of the stock is currently owned by institutional investors and hedge funds.
In other news, SVP Elaina Shekhter sold 500 shares of the company’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $90.00, for a total transaction of $45,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Arkadiy Dobkin sold 20,000 shares of the company’s stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $89.88, for a total transaction of $1,797,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 243,000 shares of company stock valued at $20,262,045 in the last ninety days. Corporate insiders own 6.17% of the company’s stock.
Several research analysts recently issued reports on EPAM shares. Credit Suisse Group started coverage on shares of EPAM Systems in a research report on Tuesday, July 4th. They issued an “outperform” rating and a $90.00 target price for the company. BidaskClub lowered shares of EPAM Systems from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. UBS AG upped their price objective on shares of EPAM Systems from $89.00 to $96.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Barclays PLC decreased their price target on shares of EPAM Systems from $92.00 to $91.00 and set an “overweight” rating for the company in a research note on Friday, August 4th. Finally, Berenberg Bank set a $95.00 price objective on shares of EPAM Systems and gave the stock a “buy” rating in a report on Sunday, August 6th. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. EPAM Systems has an average rating of “Buy” and an average target price of $93.14.
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EPAM Systems, Inc. (NYSE EPAM) opened at 90.95 on Wednesday. The company has a market capitalization of $4.78 billion, a P/E ratio of 43.92 and a beta of 0.99. The firm has a 50-day moving average of $85.44 and a 200 day moving average of $82.38. EPAM Systems, Inc. has a 52-week low of $54.53 and a 52-week high of $91.97.
EPAM Systems (NYSE:EPAM) last issued its earnings results on Thursday, August 3rd. The information technology services provider reported $0.80 EPS for the quarter, topping the consensus estimate of $0.62 by $0.18. The company had revenue of $348.98 million for the quarter, compared to analyst estimates of $342.00 million. EPAM Systems had a net margin of 8.71% and a return on equity of 15.12%. The business’s revenue was up 23.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.71 EPS. Equities analysts predict that EPAM Systems, Inc. will post $3.30 earnings per share for the current fiscal year.
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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