BARING ASSET MANAGEMENT Ltd Increases Stake in EPAM Systems, Inc. (EPAM)
BARING ASSET MANAGEMENT Ltd raised its stake in EPAM Systems, Inc. (NYSE:EPAM) by 4.6% during the second quarter, Holdings Channel reports. The institutional investor owned 197,504 shares of the information technology services provider’s stock after buying an additional 8,727 shares during the period. EPAM Systems comprises about 1.1% of BARING ASSET MANAGEMENT Ltd’s investment portfolio, making the stock its 20th largest position. BARING ASSET MANAGEMENT Ltd’s holdings in EPAM Systems were worth $16,608,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Creative Planning increased its stake in EPAM Systems by 1,101.2% in the first quarter. Creative Planning now owns 2,018 shares of the information technology services provider’s stock valued at $152,000 after buying an additional 1,850 shares in the last quarter. Cim LLC acquired a new stake in EPAM Systems during the first quarter valued at about $518,000. Legato Capital Management LLC increased its stake in EPAM Systems by 7,452.0% in the first quarter. Legato Capital Management LLC now owns 60,794 shares of the information technology services provider’s stock valued at $805,000 after buying an additional 59,989 shares in the last quarter. Capital Impact Advisors LLC increased its stake in EPAM Systems by 161.6% in the first quarter. Capital Impact Advisors LLC now owns 29,409 shares of the information technology services provider’s stock valued at $2,221,000 after buying an additional 18,167 shares in the last quarter. Finally, Rice Hall James & Associates LLC increased its stake in EPAM Systems by 18.9% in the first quarter. Rice Hall James & Associates LLC now owns 251,706 shares of the information technology services provider’s stock valued at $19,009,000 after buying an additional 40,004 shares in the last quarter. Institutional investors own 95.28% of the company’s stock.
Shares of EPAM Systems, Inc. (NYSE:EPAM) opened at 82.365 on Wednesday. The company has a 50-day moving average of $83.99 and a 200 day moving average of $78.23. The firm has a market capitalization of $4.33 billion, a PE ratio of 39.771 and a beta of 0.99. EPAM Systems, Inc. has a 12-month low of $54.53 and a 12-month high of $87.93.
EPAM Systems (NYSE:EPAM) last announced its quarterly earnings data on Thursday, August 3rd. The information technology services provider reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.18. The business had revenue of $348.98 million for the quarter, compared to the consensus estimate of $342 million. EPAM Systems had a net margin of 8.71% and a return on equity of 15.12%. EPAM Systems’s quarterly revenue was up 23.0% on a year-over-year basis. During the same quarter last year, the company posted $0.71 earnings per share. On average, analysts predict that EPAM Systems, Inc. will post $3.32 EPS for the current year.
EPAM has been the subject of several research reports. Zacks Investment Research downgraded shares of EPAM Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, April 18th. Cantor Fitzgerald reiterated a “buy” rating and set a $78.00 price objective on shares of EPAM Systems in a research note on Thursday, May 4th. Needham & Company LLC restated a “buy” rating and issued a $90.00 target price (up from $82.00) on shares of EPAM Systems in a research note on Friday, May 5th. Barclays PLC restated an “overweight” rating and issued a $84.00 target price (up from $80.00) on shares of EPAM Systems in a research note on Friday, May 5th. Finally, Wedbush upped their target price on shares of EPAM Systems from $82.00 to $90.00 and gave the company an “outperform” rating in a research note on Monday, May 8th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $90.11.
In other news, SVP Balazs Fejes sold 34,234 shares of the firm’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $84.76, for a total value of $2,901,673.84. Following the sale, the senior vice president now owns 48,467 shares in the company, valued at $4,108,062.92. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Arkadiy Dobkin sold 25,100 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $80.49, for a total transaction of $2,020,299.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 85,389 shares of company stock worth $7,153,584. 6.17% of the stock is currently owned by corporate insiders.
EPAM Systems Company Profile
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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