Virginia Retirement Systems ET AL Buys New Position in Epam Systems Inc. (EPAM)
Virginia Retirement Systems ET AL bought a new stake in Epam Systems Inc. (NYSE:EPAM) during the second quarter, Holdings Channel reports. The firm bought 5,700 shares of the company’s stock, valued at approximately $367,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in EPAM. Goldman Sachs Group Inc. boosted its stake in shares of Epam Systems by 22.3% in the first quarter. Goldman Sachs Group Inc. now owns 125,072 shares of the company’s stock valued at $9,339,000 after buying an additional 22,825 shares in the last quarter. Lazard Asset Management LLC boosted its stake in shares of Epam Systems by 4,246.9% in the first quarter. Lazard Asset Management LLC now owns 2,130 shares of the company’s stock valued at $159,000 after buying an additional 2,081 shares during the period. State Street Corp boosted its stake in shares of Epam Systems by 2.9% in the first quarter. State Street Corp now owns 864,567 shares of the company’s stock valued at $64,560,000 after buying an additional 24,531 shares during the period. Menta Capital LLC purchased a new stake in shares of Epam Systems during the first quarter valued at $426,000. Finally, NN Investment Partners Holdings N.V. purchased a new stake in shares of Epam Systems during the first quarter valued at $4,327,000. 94.13% of the stock is owned by institutional investors.
Epam Systems Inc. (NYSE:EPAM) opened at 65.84 on Friday. Epam Systems Inc. has a 12 month low of $54.88 and a 12 month high of $84.41. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of 35.08 and a beta of 1.22. The stock’s 50 day moving average is $68.09 and its 200-day moving average is $70.44.
Epam Systems (NYSE:EPAM) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.71 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.73 by $0.02. The company earned $283.80 million during the quarter, compared to analysts’ expectations of $281.11 million. Epam Systems had a return on equity of 12.73% and a net margin of 9.46%. The firm’s revenue was up 30.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.64 EPS. On average, equities research analysts expect that Epam Systems Inc. will post $2.99 earnings per share for the current year.
Several analysts recently weighed in on the stock. Citigroup Inc. reaffirmed a “buy” rating on shares of Epam Systems in a report on Saturday, July 9th. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Epam Systems in a report on Monday, August 22nd. Pacific Crest assumed coverage on shares of Epam Systems in a report on Tuesday, July 12th. They issued an “overweight” rating and a $77.00 target price on the stock. Zacks Investment Research cut shares of Epam Systems from a “hold” rating to a “sell” rating in a report on Friday, July 8th. Finally, Barclays PLC reduced their target price on shares of Epam Systems from $85.00 to $75.00 and set an “equal weight” rating on the stock in a report on Thursday, July 7th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $82.96.
In other Epam Systems news, insider Anthony J. Conte sold 1,200 shares of the company’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $66.50, for a total value of $79,800.00. Following the completion of the transaction, the insider now owns 12,706 shares in the company, valued at approximately $844,949. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.98% of the stock is owned by company insiders.
About Epam Systems
EPAM Systems, Inc (EPAM) is a provider of software engineering solutions and information technology services. The Company’s service offerings include Software Product Development Services, Custom Application Development Services, Application Testing Services, Enterprise Application Platforms, Application Maintenance and Support, and Infrastructure Management Services.
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