Millennium Management LLC Purchases 398,027 Shares of EPAM Systems Inc (EPAM)
Millennium Management LLC lifted its position in shares of EPAM Systems Inc (NYSE:EPAM) by 433.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 489,853 shares of the information technology services provider’s stock after acquiring an additional 398,027 shares during the quarter. Millennium Management LLC owned approximately 0.91% of EPAM Systems worth $60,903,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EPAM. Swiss National Bank boosted its holdings in shares of EPAM Systems by 2.4% during the 1st quarter. Swiss National Bank now owns 86,962 shares of the information technology services provider’s stock valued at $9,959,000 after acquiring an additional 2,000 shares in the last quarter. Eaton Vance Management acquired a new stake in shares of EPAM Systems during the 1st quarter valued at $207,000. Schwab Charles Investment Management Inc. boosted its holdings in shares of EPAM Systems by 4.1% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 360,326 shares of the information technology services provider’s stock valued at $41,265,000 after acquiring an additional 14,329 shares in the last quarter. Engineers Gate Manager LP acquired a new stake in shares of EPAM Systems during the 1st quarter valued at $493,000. Finally, Aperio Group LLC boosted its holdings in shares of EPAM Systems by 11.5% during the 1st quarter. Aperio Group LLC now owns 7,394 shares of the information technology services provider’s stock valued at $847,000 after acquiring an additional 765 shares in the last quarter. 90.06% of the stock is currently owned by institutional investors.
In other news, SVP Jason Harman sold 3,547 shares of EPAM Systems stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $136.98, for a total value of $485,868.06. Following the completion of the transaction, the senior vice president now directly owns 9,473 shares of the company’s stock, valued at approximately $1,297,611.54. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Boris Shnayder sold 3,000 shares of EPAM Systems stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $130.86, for a total value of $392,580.00. Following the completion of the transaction, the senior vice president now directly owns 25,508 shares of the company’s stock, valued at $3,337,976.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,680 shares of company stock valued at $5,876,795. 5.30% of the stock is owned by corporate insiders.
EPAM Systems (NYSE:EPAM) last announced its earnings results on Thursday, August 2nd. The information technology services provider reported $1.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.02. The business had revenue of $445.60 million during the quarter, compared to analyst estimates of $447.14 million. EPAM Systems had a return on equity of 18.55% and a net margin of 7.68%. EPAM Systems’s revenue for the quarter was up 27.7% compared to the same quarter last year. During the same period last year, the company earned $0.80 EPS. analysts expect that EPAM Systems Inc will post 3.19 earnings per share for the current fiscal year.
Several equities research analysts recently weighed in on the company. SunTrust Banks reissued a “buy” rating and set a $138.00 price objective on shares of EPAM Systems in a report on Friday, August 3rd. Cantor Fitzgerald reissued a “buy” rating and set a $139.00 price objective on shares of EPAM Systems in a report on Thursday, August 2nd. Wedbush raised their price objective on EPAM Systems from $135.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday, August 21st. Wolfe Research assumed coverage on EPAM Systems in a report on Tuesday, July 17th. They set an “outperform” rating on the stock. Finally, Zacks Investment Research downgraded EPAM Systems from a “hold” rating to a “sell” rating in a report on Tuesday, July 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have given a buy rating to the company. EPAM Systems has a consensus rating of “Buy” and a consensus target price of $135.33.
EPAM Systems Profile
EPAM Systems, Inc provides software product development and digital platform engineering services primarily in North America, Europe, Asia, and Australia. It offers software product development services, including product research, customer experience design, prototyping, program management, component design and integration, lifecycle software testing, product deployment, end-user customization, performance tuning, product support and maintenance, managed services, and porting and cross-platform migration.
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