EPAM Systems, Inc. (EPAM) Shares Sold by Oak Ridge Investments LLC
Oak Ridge Investments LLC lessened its holdings in EPAM Systems, Inc. (NYSE:EPAM) by 23.7% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 622,941 shares of the information technology services provider’s stock after selling 193,777 shares during the period. EPAM Systems accounts for approximately 2.2% of Oak Ridge Investments LLC’s holdings, making the stock its 2nd biggest position. Oak Ridge Investments LLC owned about 1.18% of EPAM Systems worth $54,775,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the business. Canada Pension Plan Investment Board grew its position in shares of EPAM Systems by 87.4% during the third quarter. Canada Pension Plan Investment Board now owns 926,537 shares of the information technology services provider’s stock valued at $81,470,000 after purchasing an additional 432,237 shares in the last quarter. Macquarie Group Ltd. purchased a new position in shares of EPAM Systems during the second quarter valued at about $27,404,000. Mesirow Financial Investment Management Equity Management purchased a new position in shares of EPAM Systems during the second quarter valued at about $18,578,000. BARING ASSET MANAGEMENT Ltd grew its position in shares of EPAM Systems by 105.7% during the third quarter. BARING ASSET MANAGEMENT Ltd now owns 406,329 shares of the information technology services provider’s stock valued at $35,728,000 after purchasing an additional 208,825 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of EPAM Systems by 6.4% during the second quarter. JPMorgan Chase & Co. now owns 3,028,774 shares of the information technology services provider’s stock valued at $254,691,000 after purchasing an additional 183,111 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.
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Shares of EPAM Systems, Inc. (EPAM) traded up $0.02 during midday trading on Thursday, reaching $102.63. 246,600 shares of the company’s stock traded hands, compared to its average volume of 336,904. The company has a current ratio of 5.56, a quick ratio of 5.56 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $5,419.10, a P/E ratio of 40.56, a P/E/G ratio of 1.97 and a beta of 0.95. EPAM Systems, Inc. has a twelve month low of $61.34 and a twelve month high of $103.49.
EPAM Systems (NYSE:EPAM) last announced its quarterly earnings data on Thursday, November 2nd. The information technology services provider reported $0.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.07. The business had revenue of $377.50 million during the quarter, compared to the consensus estimate of $368.22 million. EPAM Systems had a net margin of 9.41% and a return on equity of 15.70%. The firm’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.76 earnings per share. research analysts predict that EPAM Systems, Inc. will post 2.69 earnings per share for the current fiscal year.
In other news, CEO Arkadiy Dobkin sold 30,000 shares of EPAM Systems stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $80.14, for a total transaction of $2,404,200.00. Following the completion of the sale, the chief executive officer now owns 2,110,851 shares of the company’s stock, valued at $169,163,599.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Elaina Shekhter sold 500 shares of EPAM Systems stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $90.00, for a total transaction of $45,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 423,454 shares of company stock valued at $38,393,735. 6.17% of the stock is owned by insiders.
A number of research analysts have recently weighed in on the company. Bank of America Corporation raised their price objective on EPAM Systems from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, November 6th. Citigroup Inc. increased their price target on shares of EPAM Systems from $105.00 to $110.00 and gave the company a “buy” rating in a report on Friday, November 3rd. UBS AG reaffirmed a “buy” rating and issued a $105.00 price target (up previously from $96.00) on shares of EPAM Systems in a report on Friday, November 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $110.00 price target (up previously from $90.00) on shares of EPAM Systems in a report on Friday, November 3rd. Finally, Zacks Investment Research raised shares of EPAM Systems from a “hold” rating to a “buy” rating and set a $102.00 price target for the company in a report on Wednesday, November 1st. Fifteen investment analysts have rated the stock with a buy rating, EPAM Systems presently has a consensus rating of “Buy” and an average price target of $98.29.
EPAM Systems Company Profile
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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