UBS Asset Management Americas Inc. increased its position in EPAM Systems, Inc. (NYSE:EPAM) by 9.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,692 shares of the information technology services provider’s stock after buying an additional 2,197 shares during the quarter. UBS Asset Management Americas Inc.’s holdings in EPAM Systems were worth $2,076,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC acquired a new position in shares of EPAM Systems in the second quarter valued at approximately $101,000. Jacobi Capital Management LLC acquired a new position in shares of EPAM Systems in the second quarter valued at approximately $119,000. PNC Financial Services Group Inc. increased its stake in shares of EPAM Systems by 34.9% in the second quarter. PNC Financial Services Group Inc. now owns 1,462 shares of the information technology services provider’s stock valued at $123,000 after buying an additional 378 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of EPAM Systems by 11.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,591 shares of the information technology services provider’s stock valued at $134,000 after buying an additional 166 shares during the period. Finally, US Bancorp DE increased its stake in shares of 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 valued at $175,000 after buying an additional 1,974 shares during the period. 87.82% of the stock is owned by institutional investors.
In related news, SVP Elaina Shekhter sold 500 shares of EPAM Systems stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $90.00, for a total transaction of $45,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Arkadiy Dobkin sold 30,000 shares of EPAM Systems stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $80.14, for a total value of $2,404,200.00. Following the sale, the chief executive officer now owns 2,110,851 shares in the company, valued at $169,163,599.14. The disclosure for this sale can be found here. Insiders have sold 243,000 shares of company stock worth $20,262,045 over the last three months. Insiders own 6.17% of the company’s stock.
A number of research firms have weighed in on EPAM. Citigroup Inc. increased their target price on shares of EPAM Systems from $96.00 to $105.00 and gave the company a “buy” rating in a research report on Friday. Berenberg Bank set a $95.00 target price on shares of EPAM Systems and gave the company a “buy” rating in a research report on Sunday, August 6th. Cowen and Company reissued a “buy” rating and set a $95.00 target price on shares of EPAM Systems in a research report on Thursday. Barclays PLC decreased their target price on shares of EPAM Systems from $92.00 to $91.00 and set an “overweight” rating for the company in a research report on Friday, August 4th. Finally, Zacks Investment Research raised shares of EPAM Systems from a “hold” rating to a “buy” rating and set a $99.00 target price for the company in a research report on Tuesday, October 3rd. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. EPAM Systems has an average rating of “Buy” and a consensus target price of $93.14.
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EPAM Systems, Inc. (NYSE EPAM) opened at 90.96 on Monday. The firm’s 50 day moving average price is $85.44 and its 200-day moving average price is $82.38. The company has a market capitalization of $4.78 billion, a PE ratio of 43.92 and a beta of 0.99. EPAM Systems, Inc. has a 12-month low of $54.53 and a 12-month high of $91.23.
EPAM Systems (NYSE:EPAM) last posted its earnings results on Thursday, August 3rd. The information technology services provider reported $0.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.18. EPAM Systems had a return on equity of 15.12% and a net margin of 8.71%. The firm had revenue of $348.98 million for the quarter, compared to analysts’ expectations of $342.00 million. During the same period in the previous year, the firm earned $0.71 earnings per share. The business’s revenue was up 23.0% compared to the same quarter last year. On average, equities analysts anticipate that EPAM Systems, Inc. will post $3.30 earnings per share for the current fiscal year.
EPAM Systems 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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