EPAM Systems Inc (EPAM) Stake Lowered by Next Century Growth Investors LLC
Next Century Growth Investors LLC decreased its position in EPAM Systems Inc (NYSE:EPAM) by 6.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 56,998 shares of the information technology services provider’s stock after selling 4,217 shares during the quarter. Next Century Growth Investors LLC’s holdings in EPAM Systems were worth $6,123,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in EPAM. Bank of Montreal Can increased its position in EPAM Systems by 113.9% during the fourth quarter. Bank of Montreal Can now owns 1,773 shares of the information technology services provider’s stock worth $190,000 after acquiring an additional 944 shares during the period. Wesbanco Bank Inc. bought a new position in EPAM Systems during the fourth quarter worth $204,000. Comerica Bank bought a new position in EPAM Systems during the fourth quarter worth $225,000. OppenheimerFunds Inc. bought a new position in EPAM Systems during the fourth quarter worth $232,000. Finally, Candriam Luxembourg S.C.A. bought a new position in EPAM Systems during the fourth quarter worth $236,000. 90.23% of the stock is currently owned by institutional investors.
In other EPAM Systems news, Director Richard Michael Mayoras sold 2,500 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $114.72, for a total value of $286,800.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 6.17% of the company’s stock.
EPAM Systems (NYSE:EPAM) last announced its quarterly earnings results on Friday, February 16th. The information technology services provider reported $0.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.01. The firm had revenue of $399.30 million for the quarter, compared to analyst estimates of $395.78 million. EPAM Systems had a net margin of 5.02% and a return on equity of 16.52%. The business’s revenue for the quarter was up 27.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.77 EPS. equities research analysts forecast that EPAM Systems Inc will post 3.31 earnings per share for the current fiscal year.
A number of brokerages recently issued reports on EPAM. Zacks Investment Research lowered shares of EPAM Systems from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. Credit Suisse Group lowered shares of EPAM Systems from an “outperform” rating to a “neutral” rating and boosted their target price for the stock from $113.85 to $130.00 in a research report on Tuesday, February 20th. Cantor Fitzgerald boosted their target price on shares of EPAM Systems to $130.00 and gave the stock an “overweight” rating in a research report on Monday, February 19th. Stifel Nicolaus reaffirmed a “buy” rating and set a $135.00 target price (up previously from $105.00) on shares of EPAM Systems in a research report on Friday, February 16th. Finally, Pivotal Research set a $135.00 target price on shares of EPAM Systems and gave the stock a “buy” rating in a research report on Friday, February 16th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. EPAM Systems has an average rating of “Buy” and a consensus price target of $113.94.
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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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