EPAM Systems Inc (EPAM) Shares Sold by BlueMountain Capital Management LLC

BlueMountain Capital Management LLC reduced its stake in EPAM Systems Inc (NYSE:EPAM) by 63.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,987 shares of the information technology services provider’s stock after selling 15,472 shares during the period. BlueMountain Capital Management LLC’s holdings in EPAM Systems were worth $1,117,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. ClariVest Asset Management LLC lifted its position in shares of EPAM Systems by 9.6% in the 2nd quarter. ClariVest Asset Management LLC now owns 27,537 shares of the information technology services provider’s stock valued at $3,423,000 after acquiring an additional 2,405 shares in the last quarter. Azimuth Capital Management LLC lifted its position in shares of EPAM Systems by 0.6% in the 2nd quarter. Azimuth Capital Management LLC now owns 75,753 shares of the information technology services provider’s stock valued at $9,418,000 after acquiring an additional 448 shares in the last quarter. Mitchell Capital Management Co. lifted its position in shares of EPAM Systems by 28.2% in the 2nd quarter. Mitchell Capital Management Co. now owns 56,822 shares of the information technology services provider’s stock valued at $7,065,000 after acquiring an additional 12,493 shares in the last quarter. Riverhead Capital Management LLC lifted its position in shares of EPAM Systems by 8.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 16,313 shares of the information technology services provider’s stock valued at $2,028,000 after acquiring an additional 1,313 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in shares of EPAM Systems by 10.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 7,827 shares of the information technology services provider’s stock valued at $973,000 after acquiring an additional 743 shares in the last quarter. 90.10% of the stock is owned by institutional investors.

In other news, EVP Balazs Fejes sold 15,133 shares of the stock in a transaction on Monday, August 27th. The shares were sold at an average price of $141.33, for a total transaction of $2,138,746.89. Following the transaction, the executive vice president now owns 28,458 shares in the company, valued at approximately $4,021,969.14. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Jason Harman sold 3,547 shares of the stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $136.98, for a total transaction of $485,868.06. Following the transaction, the senior vice president now owns 9,473 shares in the company, valued at approximately $1,297,611.54. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,680 shares of company stock worth $5,876,795. Company insiders own 5.30% of the company’s stock.

Several equities research analysts recently commented on the stock. SunTrust Banks restated a “buy” rating and issued a $138.00 price target on shares of EPAM Systems in a research report on Friday, August 3rd. Cantor Fitzgerald restated a “buy” rating and issued a $139.00 price target on shares of EPAM Systems in a research report on Thursday, August 2nd. Wedbush upped their price target on shares of EPAM Systems from $135.00 to $150.00 and gave the company an “outperform” rating in a research report on Tuesday, August 21st. Wolfe Research assumed coverage on shares of EPAM Systems in a research report on Tuesday, July 17th. They issued an “outperform” rating for the company. Finally, Zacks Investment Research downgraded shares of EPAM Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, July 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $135.33.

EPAM Systems stock opened at $139.94 on Friday. The company has a market capitalization of $7.42 billion, a price-to-earnings ratio of 49.10, a P/E/G ratio of 2.21 and a beta of 1.16. The company has a current ratio of 5.65, a quick ratio of 5.65 and a debt-to-equity ratio of 0.02. EPAM Systems Inc has a twelve month low of $80.98 and a twelve month high of $144.19.

EPAM Systems (NYSE:EPAM) last released its quarterly earnings data 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. The firm had revenue of $445.60 million for the quarter, compared to analyst estimates of $447.14 million. EPAM Systems had a net margin of 7.68% and a return on equity of 18.55%. The company’s revenue for the quarter was up 27.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.80 EPS. equities research analysts forecast that EPAM Systems Inc will post 3.19 earnings per share for the current year.

EPAM Systems Company Profile

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

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