Macquarie Group Ltd. bought a new stake in shares of EPAM Systems, Inc. (NYSE:EPAM) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 325,892 shares of the information technology services provider’s stock, valued at approximately $27,404,000. Macquarie Group Ltd. owned approximately 0.62% of EPAM Systems as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its stake in EPAM Systems by 2.8% in the second quarter. Vanguard Group Inc. now owns 3,919,515 shares of the information technology services provider’s stock worth $329,591,000 after purchasing an additional 105,644 shares during the period. FMR LLC grew its stake in EPAM Systems by 19.4% in the first quarter. FMR LLC now owns 3,675,177 shares of the information technology services provider’s stock worth $277,549,000 after purchasing an additional 598,179 shares during the period. JPMorgan Chase & Co. grew its stake in EPAM Systems by 6.4% in the second 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 period. BlackRock Inc. grew its stake in EPAM Systems by 0.5% in the second quarter. BlackRock Inc. now owns 3,010,949 shares of the information technology services provider’s stock worth $253,188,000 after purchasing an additional 15,882 shares during the period. Finally, Wellington Management Group LLP grew its stake in 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 period. Institutional investors own 87.88% of the company’s stock.
EPAM has been the topic of several recent research reports. Barclays PLC reduced their price target on EPAM Systems from $92.00 to $91.00 and set an “overweight” rating on the stock in a research note on Friday, August 4th. BidaskClub cut EPAM Systems from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Zacks Investment Research raised EPAM Systems from a “hold” rating to a “buy” rating and set a $99.00 price target on the stock in a research note on Tuesday, October 3rd. UBS AG upped their price target on EPAM Systems from $89.00 to $96.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Finally, Berenberg Bank set a $95.00 price target on EPAM Systems and gave the stock a “buy” rating in a research note on Sunday, August 6th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. EPAM Systems presently has a consensus rating of “Buy” and an average target price of $92.23.
Shares of EPAM Systems, Inc. (EPAM) opened at 89.92 on Wednesday. The stock has a market capitalization of $4.72 billion, a PE ratio of 43.42 and a beta of 0.99. EPAM Systems, Inc. has a 1-year low of $54.53 and a 1-year high of $90.50. The stock has a 50 day moving average price of $84.34 and a 200-day moving average price of $82.03.
EPAM Systems (NYSE:EPAM) last released its quarterly earnings results on Thursday, August 3rd. The information technology services provider reported $0.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.18. The firm had revenue of $348.98 million during the quarter, compared to analyst estimates of $342.00 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% compared to the same quarter last year. During the same period in the previous year, the company posted $0.71 EPS. On average, analysts forecast that EPAM Systems, Inc. will post $3.30 earnings per share for the current year.
In related news, CEO Arkadiy Dobkin sold 20,000 shares of the business’s stock in a transaction on Monday, October 9th. The stock was sold at an average price of $89.88, for a total transaction of $1,797,600.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Elaina Shekhter sold 500 shares of the business’s stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $90.00, for a total value of $45,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 243,000 shares of company stock valued at $20,262,045. Corporate insiders own 6.17% of the company’s stock.
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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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