Next Century Growth Investors LLC Trims Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Next Century Growth Investors LLC reduced its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM) by 2.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund 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 SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SRS Capital Advisors Inc. acquired a new position in EPAM Systems in the 2nd quarter valued at about $85,000. Penserra Capital Management LLC lifted its holdings in shares of EPAM Systems by 35.9% during the second quarter. Penserra Capital Management LLC now owns 178 shares of the information technology services provider’s stock worth $90,000 after purchasing an additional 47 shares during the period. Jacobi Capital Management LLC lifted its holdings in shares of EPAM Systems by 21.2% during the second quarter. Jacobi Capital Management LLC now owns 189 shares of the information technology services provider’s stock worth $97,000 after purchasing an additional 33 shares during the period. Bollard Group LLC purchased a new position in EPAM Systems in the 2nd quarter valued at $102,000. Finally, IFP Advisors Inc increased its stake in EPAM Systems by 2,687.5% in the 2nd quarter. IFP Advisors Inc now owns 223 shares of the information technology services provider’s stock valued at $114,000 after buying an additional 215 shares during the period. Institutional investors own 91.55% of the company’s stock.

Several research analysts recently issued reports on EPAM shares. Zacks Investment Research downgraded EPAM Systems from a “buy” rating to a “hold” rating and set a $607.00 price objective for the company. in a research report on Wednesday, October 6th. Piper Sandler increased their price objective on EPAM Systems from $517.00 to $689.00 and gave the company an “overweight” rating in a research note on Friday, August 6th. Morgan Stanley upped their target price on shares of EPAM Systems from $510.00 to $700.00 and gave the company an “overweight” rating in a report on Monday, August 9th. William Blair reiterated a “buy” rating on shares of EPAM Systems in a report on Tuesday, August 3rd. Finally, Barclays upped their price objective on shares of EPAM Systems from $521.00 to $670.00 and gave the company an “overweight” rating in a research note on Monday, August 9th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $571.00.

In other EPAM Systems news, SVP Boris Shnayder sold 1,250 shares of EPAM Systems stock in a transaction on Wednesday, September 15th. The stock was sold at an average price of $622.74, for a total transaction of $778,425.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Jason D. Peterson sold 2,000 shares of the firm’s stock in a transaction on Wednesday, August 11th. The shares were sold at an average price of $606.50, for a total value of $1,213,000.00. Following the transaction, 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. In the last quarter, insiders have sold 5,937 shares of company stock valued at $3,610,997. 4.80% of the stock is owned by insiders.

Shares of EPAM Systems stock traded up $14.50 during trading hours on Thursday, hitting $611.07. 337 shares of the company’s stock traded hands, compared to its average volume of 298,664. EPAM Systems, Inc. has a twelve month low of $305.83 and a twelve month high of $648.72. The company has a market cap of $34.60 billion, a PE ratio of 87.86, a PEG ratio of 3.32 and a beta of 1.36. The stock has a 50 day simple moving average of $610.64 and a 200-day simple moving average of $528.78.

EPAM Systems (NYSE:EPAM) last posted its quarterly earnings results on Thursday, August 5th. The information technology services provider reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.11. The firm had revenue of $881.40 million for the quarter, compared to analysts’ expectations of $861.36 million. EPAM Systems had a net margin of 13.12% and a return on equity of 18.89%. The firm’s quarterly revenue was up 39.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.46 earnings per share. As a group, sell-side analysts anticipate that EPAM Systems, Inc. will post 7.13 EPS for the current fiscal year.

EPAM Systems Company Profile

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.

Further Reading: How do investors use RSI to grade stocks?

Institutional Ownership by Quarter for EPAM Systems (NYSE:EPAM)

Receive News & Ratings for EPAM Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EPAM Systems and related companies with MarketBeat.com's FREE daily email newsletter.