Cubist Systematic Strategies LLC increased its holdings in shares of EPAM Systems Inc (NYSE:EPAM) by 114.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,922 shares of the information technology services provider’s stock after purchasing an additional 2,627 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in EPAM Systems were worth $564,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the stock. BlackRock Inc. increased its position in shares of EPAM Systems by 11.9% during the 1st quarter. BlackRock Inc. now owns 3,743,627 shares of the information technology services provider’s stock worth $428,720,000 after purchasing an additional 398,653 shares during the last quarter. Asset Management One Co. Ltd. boosted its holdings in EPAM Systems by 50.1% during the 1st quarter. Asset Management One Co. Ltd. now owns 762,658 shares of the information technology services provider’s stock valued at $87,340,000 after acquiring an additional 254,435 shares during the period. Wasatch Advisors Inc. boosted its holdings in EPAM Systems by 5.0% during the 1st quarter. Wasatch Advisors Inc. now owns 567,824 shares of the information technology services provider’s stock valued at $65,027,000 after acquiring an additional 27,085 shares during the period. Geode Capital Management LLC boosted its holdings in EPAM Systems by 6.6% during the 4th quarter. Geode Capital Management LLC now owns 407,598 shares of the information technology services provider’s stock valued at $43,788,000 after acquiring an additional 25,157 shares during the period. Finally, Martin Currie Ltd. boosted its holdings in EPAM Systems by 7.4% during the 4th quarter. Martin Currie Ltd. now owns 405,816 shares of the information technology services provider’s stock valued at $43,597,000 after acquiring an additional 27,899 shares during the period. 90.45% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on EPAM shares. Berenberg Bank raised their target price on EPAM Systems to $145.00 in a report on Thursday, May 10th. They noted that the move was a valuation call. Zacks Investment Research upgraded EPAM Systems from a “hold” rating to a “buy” rating and set a $132.00 target price for the company in a report on Monday, April 23rd. SunTrust Banks started coverage on EPAM Systems in a report on Thursday, April 19th. They set a “buy” rating and a $130.00 target price for the company. ValuEngine upgraded EPAM Systems from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Finally, Needham & Company LLC restated a “buy” rating and set a $135.00 target price (up from $130.00) on shares of EPAM Systems in a report on Monday, March 19th. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $125.25.
In related news, CFO Jason D. Peterson sold 3,120 shares of the business’s stock in a transaction that occurred on Friday, May 11th. The stock was sold at an average price of $129.78, for a total transaction of $404,913.60. Following the completion of the sale, the chief financial officer now owns 10,627 shares in the company, valued at $1,379,172.06. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Elaina Shekhter sold 6,700 shares of the business’s stock in a transaction that occurred on Tuesday, May 22nd. The stock was sold at an average price of $123.98, for a total value of $830,666.00. Following the sale, the senior vice president now owns 18,186 shares of the company’s stock, valued at approximately $2,254,700.28. The disclosure for this sale can be found here. Insiders sold a total of 23,752 shares of company stock valued at $2,964,021 in the last quarter. Company insiders own 5.30% of the company’s stock.
Shares of EPAM Systems opened at $123.02 on Friday, according to MarketBeat.com. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.39 and a quick ratio of 5.39. The stock has a market capitalization of $6.53 billion, a PE ratio of 43.16, a P/E/G ratio of 1.89 and a beta of 0.95. EPAM Systems Inc has a 1 year low of $77.96 and a 1 year high of $131.75.
EPAM Systems (NYSE:EPAM) last announced its quarterly earnings data on Wednesday, May 9th. The information technology services provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.02. The business had revenue of $424.15 million during the quarter, compared to analysts’ expectations of $414.15 million. EPAM Systems had a return on equity of 17.45% and a net margin of 7.33%. The business’s quarterly revenue was up 30.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.72 EPS. sell-side analysts expect that EPAM Systems Inc will post 3.26 EPS for the current year.
About EPAM Systems
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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