Keybank National Association OH reduced its position in EPAM Systems, Inc. (NYSE:EPAM) by 29.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,370 shares of the information technology services provider’s stock after selling 1,800 shares during the quarter. Keybank National Association OH’s holdings in EPAM Systems were worth $367,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of EPAM Systems by 11.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,591 shares of the information technology services provider’s stock valued at $134,000 after purchasing an additional 166 shares during the last quarter. US Bancorp DE boosted its stake in shares of EPAM Systems by 1,762.5% in the 2nd quarter. US Bancorp DE now owns 2,086 shares of the information technology services provider’s stock valued at $175,000 after purchasing an additional 1,974 shares during the last quarter. Westpac Banking Corp bought a new stake in shares of EPAM Systems in the 1st quarter valued at $197,000. Atria Investments LLC bought a new stake in shares of EPAM Systems in the 2nd quarter valued at $206,000. Finally, Aperio Group LLC bought a new stake in shares of EPAM Systems in the 2nd quarter valued at $212,000. 87.90% of the stock is currently owned by institutional investors.
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EPAM Systems, Inc. (EPAM) opened at 87.61 on Wednesday. EPAM Systems, Inc. has a 12-month low of $54.53 and a 12-month high of $87.93. The firm has a market cap of $4.60 billion, a P/E ratio of 42.30 and a beta of 0.99. The firm’s 50-day moving average is $82.58 and its 200 day moving average is $80.07.
EPAM Systems (NYSE:EPAM) last released its quarterly earnings results on Thursday, August 3rd. The information technology services provider reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.18. The business had revenue of $348.98 million for the quarter, compared to analysts’ expectations of $342.00 million. EPAM Systems had a net margin of 8.71% and a return on equity of 15.12%. The firm’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.71 earnings per share. Equities analysts forecast that EPAM Systems, Inc. will post $3.30 earnings per share for the current year.
EPAM has been the topic of a number of research reports. Credit Suisse Group initiated coverage on shares of EPAM Systems in a research report on Tuesday, July 4th. They set an “outperform” rating and a $90.00 target price on the stock. UBS AG boosted their target price on shares of EPAM Systems from $89.00 to $96.00 and gave the company a “buy” rating in a research report on Friday, August 4th. BidaskClub downgraded shares of EPAM Systems from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Cowen and Company reiterated a “buy” rating and set a $95.00 target price on shares of EPAM Systems in a research report on Friday, September 1st. Finally, Zacks Investment Research downgraded shares of EPAM Systems from a “buy” rating to a “hold” rating in a research report on Monday, August 14th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $91.33.
In related news, CEO Arkadiy Dobkin sold 30,000 shares of EPAM Systems stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $80.14, for a total value of $2,404,200.00. Following the sale, the chief executive officer now owns 2,110,851 shares in the company, valued at $169,163,599.14. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 172,045 shares of company stock worth $14,125,916. 6.17% of the stock is currently owned by company insiders.
About EPAM Systems
EPAM Systems, Inc is a g provider of software product development and digital platform engineering services to clients located primarily in North America, Europe, Asia and Australia. The Company’s service offerings cover the full software product development lifecycle from digital strategy and customer experience design to enterprise application platforms implementation and program management services and from complex software development services to maintenance, support, custom application development, application testing, and infrastructure management.
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