Russell Investments Group Ltd. Trims Position in EPAM Systems, Inc. (EPAM)
Russell Investments Group Ltd. reduced its position in EPAM Systems, Inc. (NYSE:EPAM) by 4.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 329,609 shares of the information technology services provider’s stock after selling 15,415 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.63% of EPAM Systems worth $28,981,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the stock. Acrospire Investment Management LLC bought a new position in shares of EPAM Systems during the second quarter valued at $101,000. Jacobi Capital Management LLC bought a new position in shares of EPAM Systems during the second quarter valued at $119,000. PNC Financial Services Group Inc. lifted its holdings in shares of EPAM Systems by 34.9% during the second quarter. PNC Financial Services Group Inc. now owns 1,462 shares of the information technology services provider’s stock valued at $123,000 after acquiring an additional 378 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of EPAM Systems by 11.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,591 shares of the information technology services provider’s stock valued at $134,000 after acquiring an additional 166 shares during the period. Finally, US Bancorp DE lifted its holdings in shares of EPAM Systems by 1,762.5% during the second quarter. US Bancorp DE now owns 2,086 shares of the information technology services provider’s stock valued at $175,000 after acquiring an additional 1,974 shares during the period. 87.80% of the stock is owned by hedge funds and other institutional investors.
In related news, SVP Elaina Shekhter sold 500 shares of the business’s 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 this hyperlink. Also, CEO Arkadiy Dobkin sold 19,600 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $103.21, for a total value of $2,022,916.00. The disclosure for this sale can be found here. Insiders sold a total of 417,054 shares of company stock worth $38,417,731 in the last 90 days. Company insiders own 6.17% of the company’s stock.
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A number of research firms recently issued reports on EPAM. Zacks Investment Research raised EPAM Systems from a “hold” rating to a “buy” rating and set a $102.00 price target for the company in a report on Wednesday, November 1st. Bank of America Corporation began coverage on EPAM Systems in a report on Tuesday, September 12th. They issued a “buy” rating and a $95.00 price target for the company. UBS Group AG lifted their price target on EPAM Systems from $89.00 to $96.00 and gave the company a “buy” rating in a report on Friday, August 4th. BidaskClub cut EPAM Systems from a “buy” rating to a “hold” rating in a report on Saturday, September 16th. Finally, KeyCorp lifted their price target on EPAM Systems from $90.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, September 13th. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $98.29.
Shares of EPAM Systems, Inc. (EPAM) opened at $105.82 on Thursday. The company has a market capitalization of $5,595.49, a P/E ratio of 41.88, a price-to-earnings-growth ratio of 2.04 and a beta of 0.95. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.56 and a quick ratio of 5.56. EPAM Systems, Inc. has a 12 month low of $61.34 and a 12 month high of $106.55.
EPAM Systems (NYSE:EPAM) last released its earnings results on Thursday, November 2nd. The information technology services provider reported $0.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.07. The firm had revenue of $377.50 million for the quarter, compared to analysts’ expectations of $368.22 million. EPAM Systems had a return on equity of 15.70% and a net margin of 9.41%. The business’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.76 EPS. equities research analysts expect that EPAM Systems, Inc. will post 2.68 earnings per share for the current fiscal year.
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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