EPAM Systems Inc (EPAM) Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. boosted its stake in shares of EPAM Systems Inc (NYSE:EPAM) by 877.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 366,400 shares of the information technology services provider’s stock after purchasing an additional 328,900 shares during the quarter. Franklin Resources Inc. owned about 0.68% of EPAM Systems worth $50,453,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in EPAM. Millennium Management LLC boosted its position in shares of EPAM Systems by 433.5% in the second quarter. Millennium Management LLC now owns 489,853 shares of the information technology services provider’s stock valued at $60,903,000 after acquiring an additional 398,027 shares during the period. First Trust Advisors LP boosted its position in shares of EPAM Systems by 588.6% in the third quarter. First Trust Advisors LP now owns 283,329 shares of the information technology services provider’s stock valued at $39,014,000 after acquiring an additional 242,184 shares during the period. Voya Investment Management LLC boosted its position in shares of EPAM Systems by 50.7% in the second quarter. Voya Investment Management LLC now owns 643,386 shares of the information technology services provider’s stock valued at $79,992,000 after acquiring an additional 216,583 shares during the period. Victory Capital Management Inc. boosted its position in shares of EPAM Systems by 2,765.6% in the third quarter. Victory Capital Management Inc. now owns 179,070 shares of the information technology services provider’s stock valued at $24,658,000 after acquiring an additional 172,821 shares during the period. Finally, Paloma Partners Management Co bought a new stake in shares of EPAM Systems in the second quarter valued at about $19,022,000. 92.56% of the stock is owned by hedge funds and other institutional investors.

EPAM opened at $122.85 on Friday. EPAM Systems Inc has a twelve month low of $100.75 and a twelve month high of $144.19. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.11 and a quick ratio of 5.11. The stock has a market cap of $6.91 billion, a P/E ratio of 34.66, a PEG ratio of 1.91 and a beta of 1.30.

EPAM Systems (NYSE:EPAM) last posted its quarterly earnings data on Thursday, November 1st. The information technology services provider reported $1.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.33. EPAM Systems had a net margin of 8.60% and a return on equity of 19.19%. The business had revenue of $468.20 million during the quarter, compared to analysts’ expectations of $466.97 million. During the same quarter in the prior year, the business posted $0.92 earnings per share. EPAM Systems’s revenue was up 24.0% compared to the same quarter last year. As a group, analysts anticipate that EPAM Systems Inc will post 3.43 EPS for the current fiscal year.

A number of brokerages have recently issued reports on EPAM. Zacks Investment Research raised shares of EPAM Systems from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a research report on Tuesday, November 13th. Wedbush boosted their target price 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. Cantor Fitzgerald boosted their target price on shares of EPAM Systems from $139.00 to $146.00 and gave the company an “overweight” rating in a research report on Friday, November 2nd. Jefferies Financial Group began coverage on shares of EPAM Systems in a research report on Tuesday, November 20th. They issued a “hold” rating and a $134.00 target price for the company. Finally, KeyCorp reduced their target price on shares of EPAM Systems from $146.00 to $144.00 and set an “overweight” rating for the company in a research report on Friday, November 2nd. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. EPAM Systems has an average rating of “Buy” and a consensus target price of $142.60.

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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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