ClariVest Asset Management LLC raised its stake in Epam Systems Inc. (NYSE:EPAM) by 15.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,533 shares of the company’s stock after buying an additional 2,600 shares during the period. ClariVest Asset Management LLC’s holdings in Epam Systems were worth $1,256,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. BNP Paribas Arbitrage SA raised its position in Epam Systems by 5,051.4% in the second quarter. BNP Paribas Arbitrage SA now owns 1,906 shares of the company’s stock valued at $123,000 after buying an additional 1,869 shares in the last quarter. Lazard Asset Management LLC raised its position in Epam Systems by 4,246.9% in the first quarter. Lazard Asset Management LLC now owns 2,130 shares of the company’s stock valued at $159,000 after buying an additional 2,081 shares in the last quarter. Candriam Luxembourg S.C.A. acquired a new position in Epam Systems during the second quarter valued at $210,000. BlackRock Inc. raised its position in Epam Systems by 129.9% in the first quarter. BlackRock Inc. now owns 3,235 shares of the company’s stock valued at $241,000 after buying an additional 1,828 shares in the last quarter. Finally, Prudential Financial Inc. raised its position in Epam Systems by 1.3% in the first quarter. Prudential Financial Inc. now owns 4,770 shares of the company’s stock valued at $356,000 after buying an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 94.13% of the company’s stock.
Shares of Epam Systems Inc. (NYSE:EPAM) traded up 0.71% during trading on Friday, reaching $64.81. The company’s stock had a trading volume of 284,519 shares. The firm has a market cap of $3.30 billion, a PE ratio of 34.53 and a beta of 1.22. Epam Systems Inc. has a 12 month low of $54.88 and a 12 month high of $84.41. The stock’s 50 day moving average price is $67.93 and its 200-day moving average price is $70.27.
Epam Systems (NYSE:EPAM) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.71 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.73 by $0.02. The company had revenue of $283.80 million for the quarter, compared to the consensus estimate of $281.11 million. Epam Systems had a return on equity of 12.73% and a net margin of 9.46%. Epam Systems’s revenue for the quarter was up 30.3% compared to the same quarter last year. During the same period last year, the company earned $0.64 EPS. Equities analysts predict that Epam Systems Inc. will post $2.99 EPS for the current year.
A number of brokerages have recently commented on EPAM. Zacks Investment Research upgraded Epam Systems from a “sell” rating to a “hold” rating in a report on Wednesday, August 10th. Cantor Fitzgerald restated a “buy” rating and issued a $84.00 price target on shares of Epam Systems in a report on Tuesday, July 5th. Barclays PLC cut their price target on Epam Systems from $85.00 to $75.00 and set an “equal weight” rating on the stock in a report on Thursday, July 7th. Pacific Crest restated a “buy” rating and issued a $77.00 price target on shares of Epam Systems in a report on Friday, August 5th. Finally, Citigroup Inc. restated a “buy” rating on shares of Epam Systems in a report on Saturday, July 9th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Epam Systems presently has an average rating of “Buy” and an average target price of $82.18.
In other news, insider Anthony J. Conte sold 1,200 shares of the stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $66.50, for a total transaction of $79,800.00. Following the transaction, the insider now owns 12,706 shares of the company’s stock, valued at approximately $844,949. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.98% of the company’s stock.
About Epam Systems
EPAM Systems, Inc (EPAM) is a provider of software engineering solutions and information technology services. The Company’s service offerings include Software Product Development Services, Custom Application Development Services, Application Testing Services, Enterprise Application Platforms, Application Maintenance and Support, and Infrastructure Management Services.
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