Wetherby Asset Management Inc. lessened its holdings in shares of EPAM Systems Inc (NYSE:EPAM) by 48.5% in the third quarter, HoldingsChannel reports. The fund owned 1,186 shares of the information technology services provider’s stock after selling 1,118 shares during the period. Wetherby Asset Management Inc.’s holdings in EPAM Systems were worth $216,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in EPAM. Signaturefd LLC boosted its position in EPAM Systems by 69.8% during the 3rd quarter. Signaturefd LLC now owns 163 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 67 shares during the period. Steward Partners Investment Advisory LLC acquired a new position in EPAM Systems during the 2nd quarter worth $31,000. Shamrock Asset Management LLC acquired a new position in EPAM Systems during the 2nd quarter worth $31,000. Usca Ria LLC acquired a new position in EPAM Systems during the 3rd quarter worth $32,000. Finally, Flagship Harbor Advisors LLC boosted its position in EPAM Systems by 337.0% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 201 shares of the information technology services provider’s stock worth $34,000 after acquiring an additional 155 shares during the period. Institutional investors own 90.84% of the company’s stock.
A number of research analysts have issued reports on the company. Cantor Fitzgerald boosted their price target on EPAM Systems from $212.00 to $219.00 and gave the stock an “overweight” rating in a research report on Friday. Barclays assumed coverage on EPAM Systems in a research report on Friday, September 20th. They set an “overweight” rating and a $214.00 price target for the company. ValuEngine lowered EPAM Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Zacks Investment Research upgraded EPAM Systems from a “hold” rating to a “buy” rating and set a $199.00 price target for the company in a research report on Wednesday, August 14th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $220.00 price target on shares of EPAM Systems in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $187.20.
Shares of EPAM traded down $1.06 during midday trading on Friday, reaching $189.23. The stock had a trading volume of 478,569 shares, compared to its average volume of 374,028. EPAM Systems Inc has a 52 week low of $104.77 and a 52 week high of $201.00. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.72 and a quick ratio of 4.72. The firm’s 50 day moving average price is $182.84 and its 200-day moving average price is $181.65. The company has a market capitalization of $9.75 billion, a P/E ratio of 48.40, a P/E/G ratio of 2.03 and a beta of 1.45.
EPAM Systems (NYSE:EPAM) last posted its quarterly earnings data on Thursday, November 7th. The information technology services provider reported $1.39 EPS for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.06. EPAM Systems had a return on equity of 18.90% and a net margin of 11.98%. The company had revenue of $588.10 million for the quarter, compared to the consensus estimate of $579.82 million. During the same quarter in the previous year, the business earned $1.17 EPS. The company’s quarterly revenue was up 25.6% compared to the same quarter last year. On average, equities analysts forecast that EPAM Systems Inc will post 4.37 earnings per share for the current year.
In other news, CMO Elaina Shekhter sold 2,800 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $195.00, for a total value of $546,000.00. Following the sale, the chief marketing officer now owns 10,459 shares of the company’s stock, valued at approximately $2,039,505. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jason D. Peterson sold 3,469 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $186.92, for a total value of $648,425.48. Following the completion of the sale, the chief financial officer now directly owns 15,473 shares in the company, valued at approximately $2,892,213.16. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by insiders.
About EPAM Systems
EPAM Systems, Inc provides software product development and digital platform engineering services primarily in North America, Europe, Armenia, Belarus, Kazakhstan, Russia, Ukraine, Asia, and Australia. The company offers engineering services, including requirements analysis and platform selection, customization, cross-platform migration, implementation, and integration; infrastructure management services, such as software development, testing, and maintenance with private, public, and mobile infrastructures for application, database, network, server, storage, and systems operations management, as well as monitoring, incident notification, and resolution services; and maintenance and support services.
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