Bank of New York Mellon Corp cut its stake in EPAM Systems Inc (NYSE:EPAM) by 4.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 206,639 shares of the information technology services provider’s stock after selling 9,493 shares during the period. Bank of New York Mellon Corp owned about 0.39% of EPAM Systems worth $25,693,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Twin Tree Management LP purchased a new stake in EPAM Systems during the 1st quarter worth about $198,000. CIBC Asset Management Inc purchased a new stake in EPAM Systems during the 1st quarter worth about $201,000. Alps Advisors Inc. purchased a new stake in EPAM Systems during the 1st quarter worth about $207,000. Eaton Vance Management purchased a new stake in EPAM Systems during the 1st quarter worth about $207,000. Finally, Capital One National Association purchased a new stake in EPAM Systems during the 2nd quarter worth about $208,000. Hedge funds and other institutional investors own 90.10% of the company’s stock.
A number of analysts have issued reports on the company. Bank of America downgraded EPAM Systems from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $134.00 to $147.00 in a report on Tuesday, September 4th. Wedbush lifted their price target on EPAM Systems from $135.00 to $150.00 and gave the stock an “outperform” rating in a report on Tuesday, August 21st. Wolfe Research assumed coverage on EPAM Systems in a report on Tuesday, July 17th. They set an “outperform” rating for the company. Cantor Fitzgerald reaffirmed a “buy” rating and set a $139.00 price target on shares of EPAM Systems in a report on Thursday, August 2nd. Finally, Zacks Investment Research downgraded EPAM Systems from a “hold” rating to a “sell” rating in a report on Wednesday, August 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the stock. EPAM Systems has an average rating of “Buy” and an average price target of $135.33.
In related news, SVP Boris Shnayder sold 3,000 shares of the business’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $130.86, for a total value of $392,580.00. Following the transaction, the senior vice president now owns 25,508 shares in the company, valued at approximately $3,337,976.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Viktar Dvorkin sold 20,000 shares of the business’s stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $142.98, for a total value of $2,859,600.00. Following the completion of the transaction, the senior vice president now owns 29,258 shares in the company, valued at approximately $4,183,308.84. The disclosure for this sale can be found here. Insiders sold a total of 41,680 shares of company stock valued at $5,876,795 over the last three months. Company insiders own 5.30% of the company’s stock.
EPAM Systems stock opened at $139.94 on Friday. EPAM Systems Inc has a fifty-two week low of $80.98 and a fifty-two week high of $144.19. The company has a quick ratio of 5.65, a current ratio of 5.65 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $7.42 billion, a PE ratio of 49.03, a PEG ratio of 2.21 and a beta of 1.16.
EPAM Systems (NYSE:EPAM) last posted its earnings results on Thursday, August 2nd. The information technology services provider reported $1.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.02. EPAM Systems had a return on equity of 18.55% and a net margin of 7.68%. The business had revenue of $445.60 million during the quarter, compared to the consensus estimate of $447.14 million. During the same period in the previous year, the business earned $0.80 EPS. The business’s quarterly revenue was up 27.7% on a year-over-year basis. equities research analysts expect that EPAM Systems Inc will post 3.19 EPS for the current year.
About EPAM Systems
EPAM Systems, Inc provides software product development and digital platform engineering services primarily in North America, Europe, Asia, and Australia. It offers software product development services, including product research, customer experience design, prototyping, program management, component design and integration, lifecycle software testing, product deployment, end-user customization, performance tuning, product support and maintenance, managed services, and porting and cross-platform migration.
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