Epam Systems Inc. (EPAM) Stake Lowered by Rice Hall James & Associates LLC
Rice Hall James & Associates LLC lowered its position in Epam Systems Inc. (NYSE:EPAM) by 19.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 216,689 shares of the company’s stock after selling 51,766 shares during the period. Rice Hall James & Associates LLC owned approximately 0.43% of Epam Systems worth $13,935,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. BNP Paribas Arbitrage SA increased its position in shares of Epam Systems by 5,051.4% in the second quarter. BNP Paribas Arbitrage SA now owns 1,906 shares of the company’s stock valued at $123,000 after buying an additional 1,869 shares during the last quarter. Lazard Asset Management LLC boosted its position in shares of Epam Systems by 4,246.9% in the first quarter. Lazard Asset Management LLC now owns 2,130 shares of the company’s stock valued at $159,000 after buying an additional 2,081 shares during the period. BlackRock Inc. boosted its position in shares of Epam Systems by 129.9% in the first quarter. BlackRock Inc. now owns 3,235 shares of the company’s stock valued at $241,000 after buying an additional 1,828 shares during the period. Candriam Luxembourg S.C.A. acquired a new position in shares of Epam Systems during the second quarter valued at about $210,000. Finally, Nikko Asset Management Americas Inc. acquired a new position in shares of Epam Systems during the first quarter valued at about $249,000. 94.13% of the stock is owned by institutional investors.
Epam Systems Inc. (NYSE:EPAM) traded down 0.72% during midday trading on Tuesday, reaching $67.53. 327,397 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $68.04 and a 200 day moving average price of $70.54. The company has a market cap of $3.44 billion, a price-to-earnings ratio of 35.98 and a beta of 1.22. Epam Systems Inc. has a 12-month low of $54.88 and a 12-month high of $84.41.
Epam Systems (NYSE:EPAM) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.71 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by $0.02. Epam Systems had a net margin of 9.46% and a return on equity of 12.73%. The firm had revenue of $283.80 million for the quarter, compared to analysts’ expectations of $281.11 million. During the same period last year, the company posted $0.64 earnings per share. The business’s revenue for the quarter was up 30.3% compared to the same quarter last year. On average, analysts expect that Epam Systems Inc. will post $2.99 EPS for the current fiscal year.
Several brokerages have issued reports on EPAM. Zacks Investment Research upgraded shares of Epam Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, August 10th. Cantor Fitzgerald restated a “buy” rating and issued a $84.00 price target on shares of Epam Systems in a research report on Tuesday, July 5th. Barclays PLC decreased their price target on shares of Epam Systems from $85.00 to $75.00 and set an “equal weight” rating for the company in a research report on Thursday, July 7th. Pacific Crest restated a “buy” rating and issued a $77.00 price target on shares of Epam Systems in a research report on Friday, August 5th. Finally, Citigroup Inc. restated a “buy” rating on shares of Epam Systems in a research report on Saturday, July 9th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $82.96.
In other Epam Systems news, insider Anthony J. Conte sold 1,200 shares of the company’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $66.50, for a total transaction of $79,800.00. Following the transaction, the insider now owns 12,706 shares in the company, valued at approximately $844,949. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 5.98% of the company’s stock.
Epam Systems Company Profile
EPAM Systems, Inc (EPAM) is a provider of software engineering solutions and information technology services. The Company’s service offerings include Software Product Development Services, Custom Application Development Services, Application Testing Services, Enterprise Application Platforms, Application Maintenance and Support, and Infrastructure Management Services.
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