BlackRock Inc. Has $253.19 Million Position in EPAM Systems, Inc. (EPAM)
BlackRock Inc. increased its holdings in EPAM Systems, Inc. (NYSE:EPAM) by 0.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,010,949 shares of the information technology services provider’s stock after purchasing an additional 15,882 shares during the quarter. BlackRock Inc. owned approximately 5.81% of EPAM Systems worth $253,188,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. State of Wisconsin Investment Board grew its stake in shares of EPAM Systems by 28.2% in the second quarter. State of Wisconsin Investment Board now owns 70,490 shares of the information technology services provider’s stock worth $5,927,000 after purchasing an additional 15,490 shares during the last quarter. Brighton Jones LLC bought a new stake in shares of EPAM Systems in the second quarter worth $484,000. Wellington Management Group LLP grew its stake in shares of EPAM Systems by 30.0% in the first quarter. Wellington Management Group LLP now owns 916,126 shares of the information technology services provider’s stock worth $69,186,000 after purchasing an additional 211,513 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of EPAM Systems by 3.4% in the first quarter. Bank of New York Mellon Corp now owns 215,088 shares of the information technology services provider’s stock worth $16,244,000 after purchasing an additional 7,042 shares during the last quarter. Finally, Atria Investments LLC bought a new stake in shares of EPAM Systems in the second quarter worth $206,000. 87.88% of the stock is currently owned by institutional investors.
Shares of EPAM Systems, Inc. (NYSE EPAM) opened at 89.48 on Thursday. EPAM Systems, Inc. has a 12 month low of $54.53 and a 12 month high of $89.79. The firm’s 50-day moving average is $83.31 and its 200-day moving average is $81.46. The company has a market cap of $4.70 billion, a PE ratio of 43.21 and a beta of 0.99.
EPAM Systems (NYSE:EPAM) last released its quarterly earnings data on Thursday, August 3rd. The information technology services provider reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.18. EPAM Systems had a net margin of 8.71% and a return on equity of 15.12%. The firm had revenue of $348.98 million for the quarter, compared to analysts’ expectations of $342.00 million. During the same quarter in the previous year, the company earned $0.71 earnings per share. The company’s revenue for the quarter was up 23.0% compared to the same quarter last year. On average, equities research analysts predict that EPAM Systems, Inc. will post $3.30 earnings per share for the current year.
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In other news, CEO Arkadiy Dobkin sold 25,100 shares of EPAM Systems stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $80.49, for a total transaction of $2,020,299.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 222,500 shares of company stock worth $18,419,445 in the last ninety days. Insiders own 6.17% of the company’s stock.
EPAM has been the topic of several analyst reports. Cowen and Company reissued a “buy” rating and issued a $95.00 price objective on shares of EPAM Systems in a research note on Friday, September 1st. Bank of America Corporation initiated coverage on shares of EPAM Systems in a research note on Tuesday, September 12th. They issued a “buy” rating and a $95.00 price objective on the stock. Credit Suisse Group initiated coverage on shares of EPAM Systems in a research note on Tuesday, July 4th. They issued an “outperform” rating and a $90.00 price objective on the stock. Zacks Investment Research raised shares of EPAM Systems from a “hold” rating to a “buy” rating and set a $99.00 price objective on the stock in a research note on Tuesday. Finally, BidaskClub raised shares of EPAM Systems from a “sell” rating to a “hold” rating in a research note on Friday, September 8th. Fourteen equities research analysts have rated the stock with a buy rating, EPAM Systems currently has an average rating of “Buy” and an average price target of $92.23.
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.
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