Next Century Growth Investors LLC lowered its stake in EPAM Systems, Inc. (NYSE:EPAM) by 2.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,044 shares of the information technology services provider’s stock after selling 117 shares during the period. Next Century Growth Investors LLC’s holdings in EPAM Systems were worth $2,066,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently made changes to their positions in EPAM. SRS Capital Advisors Inc. acquired a new position in shares of EPAM Systems during the second quarter worth $85,000. Penserra Capital Management LLC grew its stake in EPAM Systems by 35.9% during the 2nd quarter. Penserra Capital Management LLC now owns 178 shares of the information technology services provider’s stock worth $90,000 after buying an additional 47 shares during the last quarter. Jacobi Capital Management LLC grew its stake in EPAM Systems by 21.2% during the 2nd quarter. Jacobi Capital Management LLC now owns 189 shares of the information technology services provider’s stock worth $97,000 after buying an additional 33 shares during the last quarter. Quadrant Capital Group LLC increased its position in EPAM Systems by 10.6% during the first quarter. Quadrant Capital Group LLC now owns 250 shares of the information technology services provider’s stock worth $99,000 after buying an additional 24 shares during the period. Finally, Bollard Group LLC purchased a new stake in EPAM Systems in the second quarter valued at approximately $102,000. Institutional investors and hedge funds own 91.55% of the company’s stock.
In other news, Director Karl Robb sold 2,044 shares of EPAM Systems stock in a transaction that occurred on Wednesday, August 11th. The stock was sold at an average price of $601.09, for a total value of $1,228,627.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jason D. Peterson sold 2,000 shares of the business’s stock in a transaction on Wednesday, August 11th. The stock was sold at an average price of $606.50, for a total value of $1,213,000.00. Following the sale, the chief financial officer now directly owns 11,580 shares in the company, valued at $7,023,270. The disclosure for this sale can be found here. Insiders have sold a total of 5,937 shares of company stock worth $3,610,997 over the last 90 days. 4.80% of the stock is owned by company insiders.
EPAM Systems (NYSE:EPAM) last released its earnings results on Thursday, August 5th. The information technology services provider reported $2.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.94 by $0.11. EPAM Systems had a net margin of 13.12% and a return on equity of 18.89%. The business had revenue of $881.40 million for the quarter, compared to analysts’ expectations of $861.36 million. During the same period last year, the company earned $1.46 earnings per share. The company’s quarterly revenue was up 39.4% on a year-over-year basis. On average, analysts forecast that EPAM Systems, Inc. will post 7.13 EPS for the current fiscal year.
A number of brokerages have recently issued reports on EPAM. Piper Sandler raised their target price on shares of EPAM Systems from $517.00 to $689.00 and gave the stock an “overweight” rating in a research report on Friday, August 6th. Citigroup upped their target price on shares of EPAM Systems from $520.00 to $620.00 and gave the company a “buy” rating in a report on Wednesday, July 14th. Morgan Stanley lifted their target price on EPAM Systems from $510.00 to $700.00 and gave the company an “overweight” rating in a research note on Monday, August 9th. William Blair restated a “buy” rating on shares of EPAM Systems in a research note on Tuesday, August 3rd. Finally, Jefferies Financial Group upgraded shares of EPAM Systems from a “hold” rating to a “buy” rating and lifted their price objective for the company from $455.00 to $670.00 in a research report on Tuesday, August 3rd. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $571.00.
About EPAM Systems
EPAM Systems, Inc engages in the provision of software product development and digital platform engineering services. It operates through the following geographical segments: North America, Europe, and Russia. The company was founded by Leonid Lozner and Arkadiy Dobkin in 1993 and is headquartered in Newtown, PA.
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