EPAM Systems Inc (EPAM) Shares Sold by Summit Creek Advisors LLC
Summit Creek Advisors LLC cut its position in EPAM Systems Inc (NYSE:EPAM) by 20.1% during the first quarter, HoldingsChannel.com reports. The firm owned 107,726 shares of the information technology services provider’s stock after selling 27,060 shares during the period. EPAM Systems makes up approximately 3.2% of Summit Creek Advisors LLC’s portfolio, making the stock its 4th largest position. Summit Creek Advisors LLC’s holdings in EPAM Systems were worth $18,220,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in EPAM. Paradigm Asset Management Co. LLC purchased a new position in EPAM Systems during the third quarter worth approximately $76,000. SG Americas Securities LLC acquired a new position in EPAM Systems during the 4th quarter worth approximately $123,000. Tower Research Capital LLC TRC increased its position in EPAM Systems by 60.2% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,072 shares of the information technology services provider’s stock worth $148,000 after purchasing an additional 403 shares during the period. Cerebellum GP LLC acquired a new position in EPAM Systems during the 4th quarter worth approximately $167,000. Finally, Point72 Hong Kong Ltd increased its position in EPAM Systems by 721.1% during the 3rd quarter. Point72 Hong Kong Ltd now owns 1,248 shares of the information technology services provider’s stock worth $172,000 after purchasing an additional 1,096 shares during the period. 94.18% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have weighed in on EPAM shares. Zacks Investment Research raised EPAM Systems from a “hold” rating to a “buy” rating and set a $178.00 price target on the stock in a research note on Monday, February 25th. Wedbush increased their price target on EPAM Systems from $150.00 to $158.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $154.73.
EPAM Systems (NYSE:EPAM) last issued its quarterly earnings results on Thursday, February 14th. The information technology services provider reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.24. The company had revenue of $504.90 million for the quarter, compared to analyst estimates of $501.43 million. EPAM Systems had a return on equity of 19.23% and a net margin of 13.04%. The business’s revenue for the quarter was up 26.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.01 EPS. Equities research analysts anticipate that EPAM Systems Inc will post 4.19 EPS for the current year.
In other news, SVP Boris Shnayder sold 15,000 shares of the company’s stock in a transaction on Monday, February 25th. The stock was sold at an average price of $159.90, for a total transaction of $2,398,500.00. Following the completion of the sale, the senior vice president now directly owns 37,508 shares in the company, valued at approximately $5,997,529.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ronald P. Vargo sold 2,000 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $159.64, for a total value of $319,280.00. Following the sale, the director now owns 10,276 shares of the company’s stock, valued at $1,640,460.64. The disclosure for this sale can be found here. Corporate insiders own 5.30% of the company’s stock.
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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, 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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