Bank of Nova Scotia acquired a new position in shares of EPAM Systems, Inc. (NYSE:EPAM) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 30,500 shares of the information technology services provider’s stock, valued at approximately $2,565,000. Bank of Nova Scotia owned about 0.06% of EPAM Systems as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Alps Advisors Inc. increased its holdings in shares of EPAM Systems by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 6,528 shares of the information technology services provider’s stock valued at $549,000 after acquiring an additional 17 shares during the last quarter. Renaissance Group LLC increased its holdings in shares of EPAM Systems by 0.6% in the 2nd quarter. Renaissance Group LLC now owns 3,819 shares of the information technology services provider’s stock valued at $321,000 after acquiring an additional 21 shares during the last quarter. D.A. Davidson & CO. increased its holdings in shares of EPAM Systems by 0.9% in the 2nd quarter. D.A. Davidson & CO. now owns 4,361 shares of the information technology services provider’s stock valued at $366,000 after acquiring an additional 39 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its holdings in shares of EPAM Systems by 1.1% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 6,624 shares of the information technology services provider’s stock valued at $557,000 after acquiring an additional 70 shares during the last quarter. Finally, CS Mckee LP increased its holdings in shares of EPAM Systems by 0.6% in the 2nd quarter. CS Mckee LP now owns 17,850 shares of the information technology services provider’s stock valued at $1,501,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 87.82% of the company’s stock.

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In related news, SVP Elaina Shekhter sold 500 shares of the stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $90.00, for a total transaction of $45,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Arkadiy Dobkin sold 5,000 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $78.86, for a total value of $394,300.00. Following the sale, the chief executive officer now owns 2,105,851 shares in the company, valued at $166,067,409.86. The disclosure for this sale can be found here. Over the last three months, insiders sold 258,000 shares of company stock valued at $21,625,845. 6.17% of the stock is currently owned by insiders.

EPAM Systems, Inc. (NYSE:EPAM) opened at 90.54 on Friday. The firm has a market cap of $4.76 billion, a price-to-earnings ratio of 43.72 and a beta of 0.99. The company’s 50-day moving average price is $86.59 and its 200-day moving average price is $82.71. EPAM Systems, Inc. has a 52-week low of $54.53 and a 52-week high of $91.23.

EPAM Systems (NYSE:EPAM) last issued its earnings results on Thursday, August 3rd. The information technology services provider reported $0.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.18. EPAM Systems had a return on equity of 15.12% and a net margin of 8.71%. The business had revenue of $348.98 million during the quarter, compared to analysts’ expectations of $342.00 million. During the same period in the prior year, the firm posted $0.71 EPS. EPAM Systems’s quarterly revenue was up 23.0% compared to the same quarter last year. Analysts predict that EPAM Systems, Inc. will post $3.30 EPS for the current year.

A number of equities research analysts have recently weighed in on the company. Cowen and Company reiterated a “buy” rating and issued a $95.00 price target on shares of EPAM Systems in a report on Thursday, October 12th. Citigroup Inc. boosted their price target on EPAM Systems from $96.00 to $105.00 and gave the company a “buy” rating in a report on Friday, October 13th. KeyCorp reiterated a “buy” rating on shares of EPAM Systems in a report on Friday. Zacks Investment Research downgraded EPAM Systems from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. Finally, BidaskClub upgraded EPAM Systems from a “hold” rating to a “buy” rating in a report on Tuesday, October 3rd. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. EPAM Systems presently has a consensus rating of “Buy” and a consensus target price of $93.14.

EPAM Systems 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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Institutional Ownership by Quarter for EPAM Systems (NYSE:EPAM)

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