Sawgrass Asset Management LLC Has $382,000 Holdings in EPAM Systems, Inc. (EPAM)
Sawgrass Asset Management LLC raised its stake in shares of EPAM Systems, Inc. (NYSE:EPAM) by 16.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,345 shares of the information technology services provider’s stock after acquiring an additional 615 shares during the quarter. Sawgrass Asset Management LLC’s holdings in EPAM Systems were worth $382,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of EPAM. Canada Pension Plan Investment Board raised its holdings in shares of EPAM Systems by 87.4% in 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 buying an additional 432,237 shares during the last quarter. Macquarie Group Ltd. bought a new stake in EPAM Systems during the 2nd quarter worth about $27,404,000. Mesirow Financial Investment Management Equity Management bought a new stake in EPAM Systems during the 2nd quarter worth about $18,578,000. BARING ASSET MANAGEMENT Ltd raised its holdings in EPAM Systems by 105.7% during the 3rd quarter. BARING ASSET MANAGEMENT Ltd now owns 406,329 shares of the information technology services provider’s stock worth $35,728,000 after purchasing an additional 208,825 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in EPAM Systems by 6.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,028,774 shares of the information technology services provider’s stock worth $254,691,000 after purchasing an additional 183,111 shares during the last quarter. 87.80% of the stock is owned by institutional investors.
In other news, SVP Elaina Shekhter sold 1,261 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $95.00, for a total transaction of $119,795.00. Following the sale, the senior vice president now owns 10,458 shares in the company, valued at approximately $993,510. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Arkadiy Dobkin sold 19,600 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $103.21, for a total value of $2,022,916.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 417,054 shares of company stock valued at $38,417,731. Insiders own 6.17% of the company’s stock.
EPAM Systems (NYSE:EPAM) last released its quarterly earnings results on Thursday, November 2nd. The information technology services provider reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.07. EPAM Systems had a return on equity of 15.70% and a net margin of 9.41%. The firm had revenue of $377.50 million during the quarter, compared to the consensus estimate of $368.22 million. During the same quarter in the prior year, the firm posted $0.76 EPS. The business’s revenue was up 26.6% on a year-over-year basis. sell-side analysts expect that EPAM Systems, Inc. will post 2.68 earnings per share for the current year.
Several equities analysts have recently issued reports on EPAM shares. Zacks Investment Research lowered EPAM Systems from a “buy” rating to a “hold” rating in a research report on Friday, November 17th. KeyCorp restated a “buy” rating on shares of EPAM Systems in a research report on Friday, October 20th. Cowen Inc restated a “buy” rating and set a $95.00 target price on shares of EPAM Systems in a research report on Friday, September 1st. Bank of America Corporation started coverage on EPAM Systems in a research report on Tuesday, September 12th. They set a “buy” rating and a $95.00 target price for the company. Finally, Citigroup Inc. boosted their target price on EPAM Systems from $96.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, October 13th. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $98.29.
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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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