8,800 Shares in EPAM Systems, Inc. (EPAM) Acquired by Teachers Retirement System of The State of Kentucky
Teachers Retirement System of The State of Kentucky bought a new position in shares of EPAM Systems, Inc. (NYSE:EPAM) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 8,800 shares of the information technology services provider’s stock, valued at approximately $774,000.
A number of other institutional investors also recently bought and sold shares of the stock. State of Wisconsin Investment Board grew its holdings in EPAM Systems by 28.2% in the second quarter. State of Wisconsin Investment Board now owns 70,490 shares of the information technology services provider’s stock valued at $5,927,000 after purchasing an additional 15,490 shares during the period. Brighton Jones LLC acquired a new stake in EPAM Systems in the second quarter valued at approximately $484,000. Bank of Nova Scotia acquired a new stake in EPAM Systems in the second quarter valued at approximately $2,565,000. Hosking Partners LLP grew its holdings in EPAM Systems by 1.6% in the second quarter. Hosking Partners LLP now owns 257,269 shares of the information technology services provider’s stock valued at $21,634,000 after purchasing an additional 4,117 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings 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 valued at $254,691,000 after purchasing an additional 183,111 shares during the period. 91.08% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CEO Arkadiy Dobkin sold 19,600 shares of EPAM Systems stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $103.21, for a total transaction of $2,022,916.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Elaina Shekhter sold 500 shares of EPAM Systems stock in a transaction that occurred 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. In the last 90 days, insiders sold 387,054 shares of company stock worth $36,009,181. Company insiders own 6.17% of the company’s stock.
Several analysts have commented on the company. UBS lowered EPAM Systems from a “buy” rating to a “neutral” rating and raised their price objective for the company from $105.00 to $110.00 in a report on Wednesday. Zacks Investment Research lowered EPAM Systems from a “buy” rating to a “hold” rating in a report on Friday, November 17th. Bank of America raised their price objective on EPAM Systems from $95.00 to $110.00 and gave the company a “buy” rating in a report on Monday, November 6th. Citigroup raised their price objective on EPAM Systems from $105.00 to $110.00 and gave the company a “buy” rating in a report on Friday, November 3rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $110.00 price objective (up from $90.00) on shares of EPAM Systems in a report on Friday, November 3rd. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. EPAM Systems presently has an average rating of “Buy” and a consensus price target of $98.64.
EPAM Systems, Inc. (NYSE EPAM) opened at $99.01 on Friday. The firm has a market capitalization of $5,357.31, a P/E ratio of 40.10, a PEG ratio of 1.95 and a beta of 0.99. EPAM Systems, Inc. has a 1 year low of $61.34 and a 1 year high of $107.91. 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 (NYSE:EPAM) last released its earnings results on Thursday, November 2nd. The information technology services provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.07. The business had revenue of $377.50 million for the quarter, compared to the consensus estimate 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 last year, the business posted $0.76 earnings per share. sell-side analysts expect that EPAM Systems, Inc. will post 2.68 EPS for the current 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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