Meadow Creek Investment Management LLC lowered its stake in shares of EPAM Systems Inc (NYSE:EPAM) by 9.7% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 25,872 shares of the information technology services provider’s stock after selling 2,772 shares during the period. Meadow Creek Investment Management LLC’s holdings in EPAM Systems were worth $4,478,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in EPAM Systems by 1.5% in the second quarter. JPMorgan Chase & Co. now owns 2,701,508 shares of the information technology services provider’s stock valued at $467,170,000 after buying an additional 39,168 shares in the last quarter. BlackRock Inc. grew its position in shares of EPAM Systems by 0.8% during the 1st quarter. BlackRock Inc. now owns 2,297,466 shares of the information technology services provider’s stock valued at $388,570,000 after acquiring an additional 18,954 shares during the period. OppenheimerFunds Inc. grew its position in shares of EPAM Systems by 11.7% during the 1st quarter. OppenheimerFunds Inc. now owns 1,581,263 shares of the information technology services provider’s stock valued at $267,438,000 after acquiring an additional 165,855 shares during the period. Wells Fargo & Company MN increased its stake in shares of EPAM Systems by 5.0% in the 2nd quarter. Wells Fargo & Company MN now owns 888,075 shares of the information technology services provider’s stock valued at $153,726,000 after purchasing an additional 42,065 shares in the last quarter. Finally, Wasatch Advisors Inc. increased its stake in shares of EPAM Systems by 2.7% in the 1st quarter. Wasatch Advisors Inc. now owns 611,167 shares of the information technology services provider’s stock valued at $103,367,000 after purchasing an additional 16,194 shares in the last quarter. 93.49% of the stock is owned by institutional investors and hedge funds.
EPAM traded up $7.71 during midday trading on Wednesday, hitting $183.84. 266,668 shares of the company traded hands, compared to its average volume of 312,284. The company has a current ratio of 4.72, a quick ratio of 4.72 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $10.61 billion, a price-to-earnings ratio of 47.02, a PEG ratio of 2.25 and a beta of 1.43. EPAM Systems Inc has a 52-week low of $104.77 and a 52-week high of $201.00. The business has a 50 day simple moving average of $190.40 and a two-hundred day simple moving average of $177.10.
EPAM Systems (NYSE:EPAM) last announced its earnings results on Thursday, August 8th. The information technology services provider reported $1.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.08. EPAM Systems had a net margin of 11.98% and a return on equity of 18.90%. The business had revenue of $551.60 million for the quarter, compared to analyst estimates of $549.84 million. During the same quarter last year, the business earned $1.01 earnings per share. The company’s revenue for the quarter was up 23.8% compared to the same quarter last year. Equities research analysts anticipate that EPAM Systems Inc will post 4.36 earnings per share for the current year.
A number of equities analysts have issued reports on EPAM shares. Cantor Fitzgerald increased their price target on EPAM Systems from $187.00 to $212.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Zacks Investment Research raised EPAM Systems from a “hold” rating to a “buy” rating and set a $199.00 price objective on the stock in a report on Wednesday, August 14th. Finally, Cowen boosted their price objective on EPAM Systems from $180.00 to $210.00 and gave the company a “positive” rating in a research report on Wednesday, July 24th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $176.00.
In other EPAM Systems news, CEO Arkadiy Dobkin sold 30,485 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $175.82, for a total transaction of $5,359,872.70. Following the completion of the sale, the chief executive officer now directly owns 1,459,082 shares in the company, valued at approximately $256,535,797.24. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Richard Michael Mayoras sold 3,372 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $174.80, for a total value of $589,425.60. Following the transaction, the director now directly owns 10,453 shares of the company’s stock, valued at approximately $1,827,184.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 80,718 shares of company stock worth $14,160,258. 5.40% of the stock is currently owned by insiders.
EPAM Systems Profile
EPAM Systems, Inc provides software product development and digital platform engineering services primarily in North America, Europe, Armenia, Belarus, Kazakhstan, Russia, Ukraine, Asia, and Australia. 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, and maintenance with private, public, and mobile infrastructures for application, database, network, server, storage, and systems operations management, as well as monitoring, incident notification, and resolution services; and maintenance and support services.
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