Mckinley Capital Management LLC Delaware Acquires New Position in EPAM Systems Inc (EPAM)
Mckinley Capital Management LLC Delaware acquired a new position in EPAM Systems Inc (NYSE:EPAM) in the fourth quarter, HoldingsChannel reports. The fund acquired 28,898 shares of the information technology services provider’s stock, valued at approximately $3,105,000.
Other large investors have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its stake in EPAM Systems by 34.9% in the second quarter. PNC Financial Services Group Inc. now owns 1,462 shares of the information technology services provider’s stock worth $123,000 after acquiring an additional 378 shares during the period. Bank of Montreal Can lifted its stake in EPAM Systems by 113.9% in the fourth quarter. Bank of Montreal Can now owns 1,773 shares of the information technology services provider’s stock worth $190,000 after acquiring an additional 944 shares during the period. Wesbanco Bank Inc. purchased a new stake in EPAM Systems in the fourth quarter worth about $204,000. Comerica Bank purchased a new stake in EPAM Systems in the fourth quarter worth about $225,000. Finally, Candriam Luxembourg S.C.A. purchased a new stake in EPAM Systems in the fourth quarter worth about $236,000. 87.65% of the stock is owned by institutional investors.
In other EPAM Systems news, CEO Arkadiy Dobkin sold 19,600 shares of the stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $103.21, for a total transaction of $2,022,916.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 6.17% of the company’s stock.
EPAM has been the subject of a number of research reports. Zacks Investment Research lowered shares of EPAM Systems from a “buy” rating to a “hold” rating in a research note on Friday, November 17th. KeyCorp reaffirmed a “buy” rating on shares of EPAM Systems in a research note on Friday, October 20th. Pivotal Research initiated coverage on shares of EPAM Systems in a research note on Tuesday, December 5th. They issued a “buy” rating and a $120.00 price objective for the company. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $92.00 price objective on shares of EPAM Systems in a research note on Thursday, November 2nd. Finally, Bank of America upped their price objective on shares of EPAM Systems from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, November 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $102.87.
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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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