American Century Companies Inc. Acquires Shares of 6,697 EPAM Systems, Inc. (EPAM)
American Century Companies Inc. acquired 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 and Exchange Commission (SEC). The firm acquired 6,697 shares of the information technology services provider’s stock, valued at approximately $563,000.
Several other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. grew its position in shares of EPAM Systems by 2,306.7% during the second quarter. Victory Capital Management Inc. now owns 22,214 shares of the information technology services provider’s stock valued at $1,868,000 after purchasing an additional 21,291 shares in the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of EPAM Systems by 0.4% during the second quarter. State Board of Administration of Florida Retirement System now owns 29,630 shares of the information technology services provider’s stock valued at $2,492,000 after purchasing an additional 129 shares in the last quarter. Turner Investments LLC purchased a new position in shares of EPAM Systems during the second quarter valued at about $378,000. BNP Paribas Arbitrage SA grew its position in shares of EPAM Systems by 514.2% during the second quarter. BNP Paribas Arbitrage SA now owns 6,216 shares of the information technology services provider’s stock valued at $523,000 after purchasing an additional 5,204 shares in the last quarter. Finally, Bernzott Capital Advisors purchased a new position in shares of EPAM Systems during the second quarter valued at about $13,961,000. Hedge funds and other institutional investors own 87.88% of the company’s stock.
Shares of EPAM Systems, Inc. (NYSE:EPAM) opened at 84.20 on Tuesday. EPAM Systems, Inc. has a 52 week low of $54.53 and a 52 week high of $87.93. The firm has a 50-day moving average of $82.29 and a 200 day moving average of $80.44. The company has a market cap of $4.42 billion, a P/E ratio of 40.66 and a beta of 0.99.
EPAM Systems (NYSE:EPAM) last announced its quarterly earnings data on Thursday, August 3rd. The information technology services provider reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.18. EPAM Systems had a net margin of 8.71% and a return on equity of 15.12%. The company had revenue of $348.98 million during the quarter, compared to analysts’ expectations of $342.00 million. During the same quarter in the prior year, the company earned $0.71 EPS. EPAM Systems’s revenue was up 23.0% compared to the same quarter last year. Equities analysts expect that EPAM Systems, Inc. will post $3.30 EPS for the current fiscal year.
EPAM has been the subject of several recent research reports. BidaskClub upgraded EPAM Systems from a “sell” rating to a “hold” rating in a research report on Friday, September 8th. KeyCorp lifted their price target on EPAM Systems from $90.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 13th. Berenberg Bank set a $95.00 price target on EPAM Systems and gave the stock a “buy” rating in a research report on Sunday, August 6th. Barclays PLC dropped their price target on EPAM Systems from $92.00 to $91.00 and set an “overweight” rating for the company in a research report on Friday, August 4th. Finally, Jefferies Group LLC set a $95.00 price target on EPAM Systems and gave the stock a “buy” rating in a research report on Thursday, August 17th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $91.54.
In other news, CEO Arkadiy Dobkin sold 30,000 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $80.14, for a total value of $2,404,200.00. Following the completion of the sale, the chief executive officer now owns 2,110,851 shares of the company’s stock, valued at approximately $169,163,599.14. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last three months, insiders sold 192,500 shares of company stock valued at $15,876,045. Corporate insiders own 6.17% of the company’s stock.
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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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