California Public Employees Retirement System cut its holdings in shares of EPAM Systems Inc (NYSE:EPAM) by 1.4% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 101,205 shares of the information technology services provider’s stock after selling 1,396 shares during the period. California Public Employees Retirement System’s holdings in EPAM Systems were worth $17,117,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in EPAM. Norges Bank acquired a new position in shares of EPAM Systems during the 4th quarter worth about $60,882,000. Vanguard Group Inc increased its stake in shares of EPAM Systems by 2.7% during the 3rd quarter. Vanguard Group Inc now owns 4,447,536 shares of the information technology services provider’s stock worth $612,425,000 after purchasing an additional 117,376 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of EPAM Systems by 60.1% during the 4th quarter. Victory Capital Management Inc. now owns 286,659 shares of the information technology services provider’s stock worth $33,255,000 after purchasing an additional 107,589 shares during the last quarter. BlackRock Inc. increased its stake in shares of EPAM Systems by 3.5% during the 4th quarter. BlackRock Inc. now owns 2,278,512 shares of the information technology services provider’s stock worth $264,330,000 after purchasing an additional 76,660 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of EPAM Systems by 146.3% during the 1st quarter. Janus Henderson Group PLC now owns 128,320 shares of the information technology services provider’s stock worth $21,703,000 after purchasing an additional 76,231 shares during the last quarter. Institutional investors own 93.04% of the company’s stock.
In related news, CEO Arkadiy Dobkin sold 25,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $168.71, for a total value of $4,217,750.00. Following the transaction, the chief executive officer now owns 1,738,490 shares in the company, valued at approximately $293,300,647.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Boris Shnayder sold 15,000 shares of the company’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $159.90, for a total transaction of $2,398,500.00. Following the completion of the transaction, the senior vice president now owns 37,508 shares in the company, valued at approximately $5,997,529.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,000 shares of company stock worth $6,935,530. 5.30% of the stock is owned by company insiders.
EPAM has been the topic of several recent analyst reports. SunTrust Banks boosted their price objective on shares of EPAM Systems to $165.00 and gave the stock a “buy” rating in a research note on Monday, February 11th. Zacks Investment Research upgraded shares of EPAM Systems from a “hold” rating to a “buy” rating and set a $153.00 price objective on the stock in a research note on Wednesday, January 23rd. Finally, Wedbush boosted their price objective on shares of EPAM Systems from $150.00 to $158.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. EPAM Systems has an average rating of “Buy” and a consensus price target of $160.00.
Shares of EPAM opened at $169.52 on Monday. EPAM Systems Inc has a 52 week low of $104.77 and a 52 week high of $180.55. The stock has a market capitalization of $9.26 billion, a P/E ratio of 43.36, a P/E/G ratio of 2.04 and a beta of 1.63. The company has a current ratio of 4.41, a quick ratio of 4.41 and a debt-to-equity ratio of 0.11.
EPAM Systems (NYSE:EPAM) last announced its quarterly earnings results on Thursday, May 9th. The information technology services provider reported $1.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.33. EPAM Systems had a net margin of 12.19% and a return on equity of 19.56%. The business had revenue of $521.30 million for the quarter, compared to analyst estimates of $519.11 million. During the same quarter in the prior year, the business earned $0.93 EPS. EPAM Systems’s quarterly revenue was up 22.9% on a year-over-year basis. Equities analysts expect that EPAM Systems Inc will post 4.24 earnings per share for the current year.
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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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