EPAM Systems, Inc. (NYSE:EPAM) Shares Acquired by Toronto Dominion Bank

Toronto Dominion Bank lifted its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 6.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,029 shares of the information technology services provider’s stock after buying an additional 459 shares during the quarter. Toronto Dominion Bank’s holdings in EPAM Systems were worth $4,103,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in EPAM. WCM Investment Management LLC increased its position in EPAM Systems by 1,195.2% during the 2nd quarter. WCM Investment Management LLC now owns 3,078,236 shares of the information technology services provider’s stock worth $1,572,855,000 after purchasing an additional 2,840,577 shares in the last quarter. Millennium Management LLC increased its position in EPAM Systems by 935.7% during the 1st quarter. Millennium Management LLC now owns 378,829 shares of the information technology services provider’s stock worth $150,278,000 after purchasing an additional 342,253 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in EPAM Systems by 50.5% during the 1st quarter. UBS Asset Management Americas Inc. now owns 798,920 shares of the information technology services provider’s stock worth $316,924,000 after purchasing an additional 268,226 shares in the last quarter. American Century Companies Inc. increased its position in EPAM Systems by 1,099.5% during the 2nd quarter. American Century Companies Inc. now owns 219,781 shares of the information technology services provider’s stock worth $112,300,000 after purchasing an additional 201,458 shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its position in EPAM Systems by 121.0% during the 2nd quarter. Lord Abbett & CO. LLC now owns 339,252 shares of the information technology services provider’s stock worth $173,345,000 after purchasing an additional 185,729 shares in the last quarter. 91.55% of the stock is owned by institutional investors and hedge funds.

EPAM has been the subject of several recent analyst reports. Zacks Investment Research cut EPAM Systems from a “buy” rating to a “hold” rating and set a $607.00 price target for the company. in a report on Wednesday, October 6th. William Blair reaffirmed a “buy” rating on shares of EPAM Systems in a research report on Tuesday, August 3rd. Piper Sandler boosted their price target on EPAM Systems from $517.00 to $689.00 and gave the company an “overweight” rating in a report on Friday, August 6th. Barclays upped their price objective on EPAM Systems from $521.00 to $670.00 and gave the stock an “overweight” rating in a research note on Monday, August 9th. Finally, Morgan Stanley upped their price objective on EPAM Systems from $510.00 to $700.00 and gave the stock an “overweight” rating in a research note on Monday, August 9th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $571.00.

Shares of EPAM Systems stock opened at $596.57 on Thursday. The firm has a market cap of $33.78 billion, a price-to-earnings ratio of 87.86, a price-to-earnings-growth ratio of 3.32 and a beta of 1.36. The business has a fifty day simple moving average of $610.64 and a 200-day simple moving average of $528.78. EPAM Systems, Inc. has a fifty-two week low of $305.83 and a fifty-two week high of $648.72.

EPAM Systems (NYSE:EPAM) last announced its quarterly earnings data on Thursday, August 5th. The information technology services provider reported $2.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.94 by $0.11. EPAM Systems had a return on equity of 18.89% and a net margin of 13.12%. The business had revenue of $881.40 million during the quarter, compared to analyst estimates of $861.36 million. During the same quarter in the prior year, the firm posted $1.46 earnings per share. The company’s revenue was up 39.4% on a year-over-year basis. As a group, equities research analysts expect that EPAM Systems, Inc. will post 7.13 EPS for the current year.

In related news, Director Karl Robb sold 2,044 shares of the stock in a transaction dated Wednesday, August 11th. The stock was sold at an average price of $601.09, for a total value of $1,228,627.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jason D. Peterson sold 2,000 shares of the stock in a transaction dated Wednesday, August 11th. The stock was sold at an average price of $606.50, for a total value of $1,213,000.00. Following the completion of the sale, the chief financial officer now directly owns 11,580 shares of the company’s stock, valued at $7,023,270. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,937 shares of company stock valued at $3,610,997. 4.80% of the stock is currently owned by company insiders.

About EPAM Systems

EPAM Systems, Inc engages in the provision of software product development and digital platform engineering services. It operates through the following geographical segments: North America, Europe, and Russia. The company was founded by Leonid Lozner and Arkadiy Dobkin in 1993 and is headquartered in Newtown, PA.

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Institutional Ownership by Quarter for EPAM Systems (NYSE:EPAM)

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