Brasada Capital Management LP grew its position in EPAM Systems Inc (NYSE:EPAM) by 1.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 60,496 shares of the information technology services provider’s stock after acquiring an additional 1,083 shares during the quarter. EPAM Systems accounts for about 2.9% of Brasada Capital Management LP’s holdings, making the stock its 6th largest position. Brasada Capital Management LP owned 0.11% of EPAM Systems worth $11,030,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Daiwa Securities Group Inc. lifted its holdings in EPAM Systems by 7.3% during the third quarter. Daiwa Securities Group Inc. now owns 2,199 shares of the information technology services provider’s stock worth $401,000 after acquiring an additional 150 shares in the last quarter. Montag & Caldwell LLC increased its position in EPAM Systems by 10.9% during the 3rd quarter. Montag & Caldwell LLC now owns 3,082 shares of the information technology services provider’s stock valued at $562,000 after purchasing an additional 302 shares during the period. Creative Planning increased its position in EPAM Systems by 50.9% during the 3rd quarter. Creative Planning now owns 5,571 shares of the information technology services provider’s stock valued at $1,016,000 after purchasing an additional 1,880 shares during the period. First Mercantile Trust Co. increased its position in EPAM Systems by 8.0% during the 3rd quarter. First Mercantile Trust Co. now owns 2,700 shares of the information technology services provider’s stock valued at $492,000 after purchasing an additional 200 shares during the period. Finally, Yorktown Management & Research Co Inc purchased a new position in EPAM Systems during the 3rd quarter valued at about $237,000. Institutional investors own 90.84% of the company’s stock.
A number of research firms have commented on EPAM. ValuEngine downgraded shares of EPAM Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $219.00 target price (up previously from $212.00) on shares of EPAM Systems in a research report on Friday. Zacks Investment Research raised shares of EPAM Systems from a “hold” rating to a “buy” rating and set a $199.00 target price on the stock in a research report on Wednesday, August 14th. Needham & Company LLC reissued a “buy” rating and set a $220.00 target price on shares of EPAM Systems in a research report on Thursday. Finally, Cowen raised their target price on shares of EPAM Systems from $180.00 to $210.00 and gave the company a “positive” rating in a research report on Wednesday, July 24th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $187.20.
Shares of EPAM Systems stock opened at $189.23 on Friday. The firm’s 50 day moving average price is $182.84 and its 200-day moving average price is $181.65. The company has a quick ratio of 4.72, a current ratio of 4.72 and a debt-to-equity ratio of 0.13. EPAM Systems Inc has a 52-week low of $104.77 and a 52-week high of $201.00. The company has a market cap of $9.75 billion, a P/E ratio of 48.40, a PEG ratio of 2.03 and a beta of 1.45.
EPAM Systems (NYSE:EPAM) last issued its quarterly earnings data on Thursday, November 7th. The information technology services provider reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.06. EPAM Systems had a net margin of 11.98% and a return on equity of 18.90%. The firm had revenue of $588.10 million for the quarter, compared to the consensus estimate of $579.82 million. During the same quarter in the previous year, the firm earned $1.17 EPS. The company’s quarterly revenue was up 25.6% compared to the same quarter last year. As a group, equities research analysts forecast that EPAM Systems Inc will post 4.37 EPS for the current fiscal year.
In related news, CMO Elaina Shekhter sold 2,800 shares of EPAM Systems stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $195.00, for a total value of $546,000.00. Following the completion of the sale, the chief marketing officer now directly owns 10,459 shares in the company, valued at approximately $2,039,505. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jason D. Peterson sold 3,469 shares of EPAM Systems stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $186.92, for a total transaction of $648,425.48. Following the completion of the sale, the chief financial officer now owns 15,473 shares of the company’s stock, valued at $2,892,213.16. The disclosure for this sale can be found here. 5.30% of the stock is owned by insiders.
About EPAM Systems
EPAM Systems, Inc provides software product development and digital platform engineering services primarily in North America, Europe, Armenia, Belarus, Kazakhstan, Russia, Ukraine, Asia, and Australia. The company offers engineering services, including requirements analysis and platform selection, customization, cross-platform migration, implementation, and integration; infrastructure management services, such as software development, testing, and maintenance with private, public, and mobile infrastructures for application, database, network, server, storage, and systems operations management, as well as monitoring, incident notification, and resolution services; and maintenance and support services.
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