Schwab Charles Investment Management Inc. boosted its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 8.1% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 209,948 shares of the information technology services provider’s stock after buying an additional 15,683 shares during the period. Schwab Charles Investment Management Inc. owned 0.41% of EPAM Systems worth $15,856,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in EPAM Systems by 76,013.5% in the first quarter. BlackRock Inc. now owns 2,995,067 shares of the information technology services provider’s stock worth $226,186,000 after buying an additional 2,991,132 shares during the period. Morgan Stanley boosted its stake in EPAM Systems by 21.0% in the first quarter. Morgan Stanley now owns 3,461,697 shares of the information technology services provider’s stock worth $261,428,000 after buying an additional 600,775 shares during the period. UBS Group AG boosted its stake in EPAM Systems by 5.2% in the first quarter. UBS Group AG now owns 364,931 shares of the information technology services provider’s stock worth $27,560,000 after buying an additional 17,977 shares during the period. Next Century Growth Investors LLC bought a new stake in EPAM Systems during the first quarter worth approximately $640,000. Finally, Geode Capital Management LLC boosted its stake in EPAM Systems by 5.9% in the first quarter. Geode Capital Management LLC now owns 353,755 shares of the information technology services provider’s stock worth $26,715,000 after buying an additional 19,779 shares during the period. Institutional investors and hedge funds own 97.46% of the company’s stock.

Shares of EPAM Systems, Inc. (NYSE:EPAM) traded down 0.49% during mid-day trading on Tuesday, reaching $81.83. 205,060 shares of the company’s stock were exchanged. EPAM Systems, Inc. has a 52 week low of $54.53 and a 52 week high of $87.93. The stock has a market cap of $4.24 billion, a price-to-earnings ratio of 43.99 and a beta of 0.99. The stock has a 50 day moving average price of $84.36 and a 200 day moving average price of $77.27.

EPAM Systems (NYSE:EPAM) last announced its earnings results on Thursday, August 3rd. The information technology services provider reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.18. EPAM Systems had a return on equity of 15.74% and a net margin of 8.71%. The firm had revenue of $348.98 million during the quarter, compared to the consensus estimate of $342 million. During the same quarter in the prior year, the company earned $0.71 EPS. The firm’s revenue for the quarter was up 23.0% compared to the same quarter last year. Equities research analysts predict that EPAM Systems, Inc. will post $3.36 EPS for the current year.

WARNING: This piece was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this piece on another website, it was illegally copied and republished in violation of US & international copyright laws. The original version of this piece can be read at https://www.thecerbatgem.com/2017/08/08/schwab-charles-investment-management-inc-has-15-86-million-position-in-epam-systems-inc-nyseepam-updated-updated-updated.html.

Several brokerages recently commented on EPAM. Berenberg Bank set a $95.00 price target on shares of EPAM Systems and gave the stock a “buy” rating in a report on Sunday. Monness Crespi & Hardt boosted their price target on shares of EPAM Systems from $82.00 to $91.00 and gave the stock a “buy” rating in a report on Wednesday, May 10th. Wedbush lifted their target price on shares of EPAM Systems from $82.00 to $90.00 and gave the stock an “outperform” rating in a research note on Monday, May 15th. Barclays PLC lifted their target price on shares of EPAM Systems from $80.00 to $84.00 and gave the stock an “overweight” rating in a research note on Monday, May 15th. Finally, Zacks Investment Research cut shares of EPAM Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, April 18th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $90.11.

In other news, insider Elaina Shekhter sold 2,875 shares of the stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $80.63, for a total value of $231,811.25. Following the completion of the transaction, the insider now directly owns 12,219 shares of the company’s stock, valued at approximately $985,217.97. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Balazs Fejes sold 34,234 shares of the stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $84.76, for a total value of $2,901,673.84. Following the completion of the transaction, the senior vice president now directly owns 48,467 shares of the company’s stock, valued at $4,108,062.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,164 shares of company stock valued at $5,365,096. Insiders own 6.17% of the company’s stock.

About EPAM Systems

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.

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

Receive News & Stock Ratings for EPAM Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EPAM Systems Inc. and related stocks with our FREE daily email newsletter.