Summit Creek Advisors LLC decreased its stake in shares of EPAM Systems Inc (NYSE:EPAM) by 16.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 153,146 shares of the information technology services provider’s stock after selling 29,807 shares during the period. EPAM Systems accounts for approximately 3.1% of Summit Creek Advisors LLC’s holdings, making the stock its 3rd biggest holding. Summit Creek Advisors LLC owned about 0.29% of EPAM Systems worth $16,452,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of EPAM. Schwab Charles Investment Management Inc. lifted its position in EPAM Systems by 12.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 235,579 shares of the information technology services provider’s stock worth $19,810,000 after buying an additional 25,631 shares in the last quarter. Legal & General Group Plc lifted its position in EPAM Systems by 4.6% during the 2nd quarter. Legal & General Group Plc now owns 17,859 shares of the information technology services provider’s stock valued at $1,498,000 after purchasing an additional 789 shares during the period. American Century Companies Inc. acquired a new position in EPAM Systems during the 2nd quarter valued at about $563,000. Prudential Financial Inc. lifted its position in EPAM Systems by 1.6% during the 2nd quarter. Prudential Financial Inc. now owns 6,820 shares of the information technology services provider’s stock valued at $573,000 after purchasing an additional 110 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in EPAM Systems by 11.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,591 shares of the information technology services provider’s stock valued at $134,000 after purchasing an additional 166 shares during the period. Institutional investors and hedge funds own 89.15% of the company’s stock.
In related news, CEO Arkadiy Dobkin sold 15,000 shares of the stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $90.81, for a total transaction of $1,362,150.00. Following the completion of the sale, the chief executive officer now directly owns 1,995,851 shares of the company’s stock, valued at approximately $181,243,229.31. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ronald P. Vargo sold 4,000 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $101.32, for a total value of $405,280.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 214,154 shares of company stock valued at $21,216,385. 6.17% of the stock is currently owned by company insiders.
Shares of EPAM Systems Inc (EPAM) traded up $0.47 during mid-day trading on Tuesday, hitting $110.87. The stock had a trading volume of 260,800 shares, compared to its average volume of 257,267. The company has a current ratio of 5.56, a quick ratio of 5.56 and a debt-to-equity ratio of 0.03. The company has a market cap of $5,820.00, a PE ratio of 46.98, a PEG ratio of 1.72 and a beta of 0.98. EPAM Systems Inc has a one year low of $63.32 and a one year high of $111.95.
EPAM Systems (NYSE:EPAM) last announced its quarterly earnings results on Thursday, November 2nd. The information technology services provider reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.07. The company had revenue of $377.50 million during 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%. EPAM Systems’s revenue was up 26.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.76 EPS. analysts anticipate that EPAM Systems Inc will post 2.67 EPS for the current year.
A number of research firms have issued reports on EPAM. Zacks Investment Research downgraded shares of EPAM Systems from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. UBS Group downgraded shares of EPAM Systems from a “buy” rating to a “neutral” rating and upped their target price for the company from $105.00 to $110.00 in a research report on Wednesday, November 29th. Cowen set a $115.00 target price on shares of EPAM Systems and gave the company a “buy” rating in a research report on Monday, December 11th. Bank of America upped their target price on shares of EPAM Systems from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, November 6th. Finally, Citigroup upped their target price on shares of EPAM Systems from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. EPAM Systems has a consensus rating of “Buy” and a consensus price target of $102.87.
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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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