State of Wisconsin Investment Board Purchases 15,490 Shares of EPAM Systems, Inc. (EPAM)
State of Wisconsin Investment Board boosted its stake in shares of EPAM Systems, Inc. (NYSE:EPAM) by 28.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,490 shares of the information technology services provider’s stock after buying an additional 15,490 shares during the period. State of Wisconsin Investment Board owned approximately 0.14% of EPAM Systems worth $5,927,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. increased its position in EPAM Systems by 76,013.5% in the first quarter. BlackRock Inc. now owns 2,995,067 shares of the information technology services provider’s stock valued at $226,186,000 after buying an additional 2,991,132 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in EPAM Systems by 70.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,058,688 shares of the information technology services provider’s stock valued at $155,472,000 after buying an additional 850,759 shares in the last quarter. Morgan Stanley increased its position in EPAM Systems by 21.0% in the first quarter. Morgan Stanley now owns 3,461,697 shares of the information technology services provider’s stock valued at $261,428,000 after buying an additional 600,775 shares in the last quarter. FMR LLC increased its position in EPAM Systems by 19.4% in the first quarter. FMR LLC now owns 3,675,177 shares of the information technology services provider’s stock valued at $277,549,000 after buying an additional 598,179 shares in the last quarter. Finally, Baird Financial Group Inc. bought a new stake in shares of EPAM Systems during the first quarter valued at about $23,730,000. 87.90% of the stock is owned by hedge funds and other institutional investors.
EPAM Systems, Inc. (EPAM) opened at 79.58 on Thursday. EPAM Systems, Inc. has a 12-month low of $54.53 and a 12-month high of $87.93. The stock has a market capitalization of $4.18 billion, a PE ratio of 38.43 and a beta of 0.99. The stock’s 50 day moving average price is $83.31 and its 200-day moving average price is $78.94.
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 Thomson Reuters’ consensus estimate of $0.62 by $0.18. EPAM Systems had a return on equity of 15.12% and a net margin of 8.71%. The business had revenue of $348.98 million during the quarter, compared to analyst estimates of $342 million. During the same period last year, the company earned $0.71 earnings per share. EPAM Systems’s quarterly revenue was up 23.0% compared to the same quarter last year. Analysts expect that EPAM Systems, Inc. will post $3.32 earnings per share for the current year.
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Several analysts have issued reports on the company. Jefferies Group LLC set a $95.00 target price on EPAM Systems and gave the company a “buy” rating in a report on Thursday, August 17th. Berenberg Bank set a $95.00 target price on EPAM Systems and gave the company a “buy” rating in a report on Sunday, August 6th. Barclays PLC dropped their target price on EPAM Systems from $92.00 to $91.00 and set an “overweight” rating for the company in a report on Friday, August 4th. BidaskClub cut EPAM Systems from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Zacks Investment Research cut EPAM Systems from a “buy” rating to a “hold” rating in a report on Monday, August 14th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. EPAM Systems has an average rating of “Buy” and an average price target of $90.60.
In other EPAM Systems news, CEO Arkadiy Dobkin sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $78.86, for a total transaction of $394,300.00. Following the transaction, the chief executive officer now directly owns 2,105,851 shares in the company, valued at $166,067,409.86. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Balazs Fejes sold 34,234 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now owns 48,467 shares in the company, valued at $4,108,062.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 120,389 shares of company stock valued at $9,952,084. 6.17% of the stock is owned by corporate 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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