California State Teachers Retirement System trimmed its stake in EPAM Systems Inc (NYSE:EPAM) by 9.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,738 shares of the information technology services provider’s stock after selling 8,365 shares during the period. California State Teachers Retirement System owned 0.15% of EPAM Systems worth $6,923,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. Acrospire Investment Management LLC bought a new position in EPAM Systems in the 2nd quarter worth $101,000. Jacobi Capital Management LLC bought a new position in EPAM Systems in the 2nd quarter worth $119,000. PNC Financial Services Group Inc. boosted its holdings in EPAM Systems by 34.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,462 shares of the information technology services provider’s stock worth $123,000 after buying an additional 378 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in EPAM Systems by 11.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,591 shares of the information technology services provider’s stock worth $134,000 after buying an additional 166 shares during the period. Finally, Aperio Group LLC bought a new position in EPAM Systems in the 2nd quarter worth $212,000. Hedge funds and other institutional investors own 89.15% of the company’s stock.
Shares of EPAM Systems Inc (NYSE:EPAM) opened at $110.87 on Friday. The company has a current ratio of 5.56, a quick ratio of 5.56 and a debt-to-equity ratio of 0.03. The stock has a market cap of $5,820.00, a PE ratio of 46.98, a PEG ratio of 1.71 and a beta of 0.98. EPAM Systems Inc has a 1 year low of $63.32 and a 1 year high of $111.95.
EPAM Systems (NYSE:EPAM) last announced its earnings results on Thursday, November 2nd. The information technology services provider reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.07. The firm had revenue of $377.50 million for the quarter, compared to analysts’ expectations of $368.22 million. EPAM Systems had a net margin of 9.41% and a return on equity of 15.70%. The business’s revenue was up 26.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.76 EPS. sell-side analysts anticipate that EPAM Systems Inc will post 2.67 earnings per share for the current fiscal year.
In related news, CEO Arkadiy Dobkin sold 75,000 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $101.64, for a total value of $7,623,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Elaina Shekhter sold 1,261 shares of the stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $95.00, for a total transaction of $119,795.00. Following the completion of the sale, the senior vice president now directly owns 10,458 shares in the company, valued at $993,510. The disclosure for this sale can be found here. Insiders sold a total of 229,154 shares of company stock worth $22,580,185 over the last three months. 6.17% of the stock is currently owned by corporate insiders.
Several research firms have commented on EPAM. Zacks Investment Research downgraded shares of EPAM Systems from a “buy” rating to a “hold” rating in a report on Thursday. UBS Group downgraded shares of EPAM Systems from a “buy” rating to a “neutral” rating and increased their price objective for the company from $105.00 to $110.00 in a report on Wednesday, November 29th. Cowen set a $115.00 price objective on shares of EPAM Systems and gave the company a “buy” rating in a report on Monday, December 11th. Bank of America increased their price objective on shares of EPAM Systems from $95.00 to $110.00 and gave the company a “buy” rating in a report on Monday, November 6th. Finally, Citigroup increased their price objective on shares of EPAM Systems from $105.00 to $110.00 and gave the company a “buy” rating in a report on Friday, November 3rd. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. EPAM Systems currently has a consensus rating of “Buy” and an average price target of $102.87.
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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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