Seeyond purchased a new stake in EPAM Systems Inc (NYSE:EPAM) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,501 shares of the information technology services provider’s stock, valued at approximately $260,000.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. JPMorgan Chase & Co. lifted its holdings in shares of EPAM Systems by 1.5% in the second quarter. JPMorgan Chase & Co. now owns 2,701,508 shares of the information technology services provider’s stock valued at $467,170,000 after purchasing an additional 39,168 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of EPAM Systems by 0.8% in the first quarter. BlackRock Inc. now owns 2,297,466 shares of the information technology services provider’s stock valued at $388,570,000 after purchasing an additional 18,954 shares in the last quarter. OppenheimerFunds Inc. lifted its stake in shares of EPAM Systems by 11.7% during the first quarter. OppenheimerFunds Inc. now owns 1,581,263 shares of the information technology services provider’s stock valued at $267,438,000 after buying an additional 165,855 shares during the period. Wells Fargo & Company MN lifted its stake in shares of EPAM Systems by 5.0% during the second quarter. Wells Fargo & Company MN now owns 888,075 shares of the information technology services provider’s stock valued at $153,726,000 after buying an additional 42,065 shares during the period. Finally, Wasatch Advisors Inc. lifted its stake in shares of EPAM Systems by 2.7% during the first quarter. Wasatch Advisors Inc. now owns 611,167 shares of the information technology services provider’s stock valued at $103,367,000 after buying an additional 16,194 shares during the period. 93.49% of the stock is currently owned by institutional investors.
Shares of EPAM traded down $5.25 on Friday, hitting $178.92. 328,105 shares of the stock traded hands, compared to its average volume of 327,887. The company has a quick ratio of 4.72, a current ratio of 4.72 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $10.10 billion, a P/E ratio of 43.03, a P/E/G ratio of 2.14 and a beta of 1.43. The stock’s 50 day moving average is $189.85 and its two-hundred day moving average is $177.32. EPAM Systems Inc has a 1 year low of $104.77 and a 1 year high of $201.00.
Several equities analysts recently issued reports on EPAM shares. Zacks Investment Research raised shares of EPAM Systems from a “hold” rating to a “buy” rating and set a $199.00 price objective on the stock in a research note on Wednesday, August 14th. Cantor Fitzgerald upped their price objective on shares of EPAM Systems from $187.00 to $212.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Finally, Cowen upped their price objective on shares of EPAM Systems from $180.00 to $210.00 and gave the company a “positive” rating in a research note on Wednesday, July 24th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $176.00.
In other EPAM Systems news, CMO Elaina Shekhter sold 2,800 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $195.00, for a total transaction of $546,000.00. Following the transaction, the chief marketing officer now owns 10,459 shares of the company’s stock, valued at $2,039,505. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Jason D. Peterson sold 3,469 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $186.92, for a total transaction of $648,425.48. Following the transaction, 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. In the last ninety days, insiders have sold 77,346 shares of company stock worth $13,570,832. 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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