Sei Investments Co. lowered its stake in EPAM Systems, Inc. (NYSE:EPAM) by 16.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,223 shares of the information technology services provider’s stock after selling 4,086 shares during the period. Sei Investments Co.’s holdings in EPAM Systems were worth $1,784,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the company. Creative Planning raised its position in shares of EPAM Systems by 1,101.2% in the first quarter. Creative Planning now owns 2,018 shares of the information technology services provider’s stock valued at $152,000 after buying an additional 1,850 shares during the last quarter. US Bancorp DE raised its position in shares of EPAM Systems by 1,762.5% in the second quarter. US Bancorp DE now owns 2,086 shares of the information technology services provider’s stock valued at $175,000 after buying an additional 1,974 shares during the last quarter. Atria Investments LLC bought a new position in shares of EPAM Systems during the second quarter valued at $206,000. Aperio Group LLC bought a new position in shares of EPAM Systems during the second quarter valued at $212,000. Finally, Westpac Banking Corp bought a new position in shares of EPAM Systems during the first quarter valued at $197,000. 95.28% of the stock is currently owned by hedge funds and other institutional investors.
EPAM Systems, Inc. (EPAM) opened at 78.83 on Friday. EPAM Systems, Inc. has a 1-year low of $54.53 and a 1-year high of $87.93. The firm has a market capitalization of $4.14 billion, a P/E ratio of 38.06 and a beta of 0.99. The company has a 50 day moving average of $83.31 and a 200 day moving average of $78.94.
EPAM Systems (NYSE:EPAM) last announced its earnings results on Thursday, August 3rd. The information technology services provider reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.18. The business had revenue of $348.98 million for the quarter, compared to analysts’ expectations of $342 million. EPAM Systems had a return on equity of 15.12% and a net margin of 8.71%. The business’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same period last year, the firm posted $0.71 earnings per share. On average, equities research analysts anticipate that EPAM Systems, Inc. will post $3.32 earnings per share for the current year.
COPYRIGHT VIOLATION WARNING: This report was originally published by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this report on another site, it was illegally copied and republished in violation of international copyright and trademark legislation. The correct version of this report can be read at https://stocknewstimes.com/2017/08/27/sei-investments-co-has-1-78-million-stake-in-epam-systems-inc-epam.html.
Several brokerages have recently weighed in on EPAM. Jefferies Group LLC set a $95.00 price objective on shares of EPAM Systems and gave the company a “buy” rating in a research report on Thursday, August 17th. Berenberg Bank set a $95.00 price objective on shares of EPAM Systems and gave the company a “buy” rating in a research report on Sunday, August 6th. Barclays PLC dropped their price objective on shares of EPAM Systems from $92.00 to $91.00 and set an “overweight” rating on the stock in a research report on Friday, August 4th. Zacks Investment Research lowered shares of EPAM Systems from a “buy” rating to a “hold” rating in a research report on Monday, August 14th. Finally, Cantor Fitzgerald reissued a “buy” rating and issued a $78.00 price objective on shares of EPAM Systems in a research report on Thursday, May 4th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $90.60.
In other news, SVP Ginger Mosier sold 26,055 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $85.65, for a total value of $2,231,610.75. Following the transaction, the senior vice president now owns 12,733 shares of the company’s stock, valued at $1,090,581.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Arkadiy Dobkin sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $80.14, for a total value of $2,404,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,110,851 shares in the company, valued at approximately $169,163,599.14. The disclosure for this sale can be found here. Insiders sold 115,389 shares of company stock worth $9,557,784 over the last three months. Insiders own 6.17% of the company’s stock.
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.
Want to see what other hedge funds are holding EPAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for EPAM Systems, Inc. (NYSE:EPAM).
Receive News & 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 companies with MarketBeat.com's FREE daily email newsletter.
