EPAM Systems Inc (EPAM) Position Trimmed by Allianz Asset Management GmbH
Allianz Asset Management GmbH reduced its position in EPAM Systems Inc (NYSE:EPAM) by 3.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 162,190 shares of the information technology services provider’s stock after selling 6,009 shares during the period. Allianz Asset Management GmbH owned about 0.30% of EPAM Systems worth $22,334,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in EPAM. Janus Henderson Group PLC raised its stake in EPAM Systems by 46.2% during the 2nd quarter. Janus Henderson Group PLC now owns 3,358 shares of the information technology services provider’s stock valued at $418,000 after buying an additional 1,061 shares during the last quarter. Measured Wealth Private Client Group LLC purchased a new stake in EPAM Systems during the 2nd quarter valued at $507,000. Riverhead Capital Management LLC raised its stake in EPAM Systems by 8.8% during 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 buying an additional 1,313 shares during the last quarter. Fox Run Management L.L.C. purchased a new stake in EPAM Systems during the 3rd quarter valued at $304,000. Finally, Morgan Stanley raised its stake in EPAM Systems by 2.1% during the 2nd quarter. Morgan Stanley now owns 5,405,251 shares of the information technology services provider’s stock valued at $672,035,000 after buying an additional 110,874 shares during the last quarter. Institutional investors own 92.56% of the company’s stock.
Several research firms have recently commented on EPAM. Jefferies Financial Group began coverage on EPAM Systems in a research note on Tuesday, November 20th. They issued a “hold” rating and a $134.00 price objective for the company. Zacks Investment Research upgraded EPAM Systems from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a research note on Tuesday, November 13th. JPMorgan Chase & Co. upped their price objective on EPAM Systems from $152.00 to $157.00 and gave the stock an “overweight” rating in a research note on Friday, November 2nd. Cantor Fitzgerald upped their price objective on EPAM Systems from $139.00 to $146.00 and gave the stock an “overweight” rating in a research note on Friday, November 2nd. Finally, KeyCorp reduced their price objective on EPAM Systems from $146.00 to $144.00 and set an “overweight” rating for the company in a research note on Friday, November 2nd. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $142.60.
EPAM Systems (NYSE:EPAM) last issued its earnings results on Thursday, November 1st. The information technology services provider reported $1.17 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.33. The company had revenue of $468.20 million during the quarter, compared to the consensus estimate of $466.97 million. EPAM Systems had a net margin of 8.60% and a return on equity of 19.19%. EPAM Systems’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.92 EPS. On average, sell-side analysts forecast that EPAM Systems Inc will post 3.43 EPS for the current year.
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EPAM Systems 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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