Amundi Pioneer Asset Management Inc. cut its stake in EPAM Systems Inc (NYSE:EPAM) by 10.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 206,451 shares of the information technology services provider’s stock after selling 24,688 shares during the quarter. Amundi Pioneer Asset Management Inc.’s holdings in EPAM Systems were worth $23,950,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in EPAM. OppenheimerFunds Inc. purchased a new position in shares of EPAM Systems in the 3rd quarter valued at $195,951,000. Capital World Investors increased its holdings in shares of EPAM Systems by 78.8% in the 3rd quarter. Capital World Investors now owns 2,070,917 shares of the information technology services provider’s stock valued at $285,165,000 after acquiring an additional 912,555 shares during the period. Morgan Stanley increased its holdings in shares of EPAM Systems by 7.2% in the 3rd quarter. Morgan Stanley now owns 5,793,689 shares of the information technology services provider’s stock valued at $797,790,000 after acquiring an additional 388,438 shares during the period. Franklin Resources Inc. increased its holdings in shares of EPAM Systems by 877.1% in the 3rd quarter. Franklin Resources Inc. now owns 366,400 shares of the information technology services provider’s stock valued at $50,453,000 after acquiring an additional 328,900 shares during the period. Finally, Capital International Investors purchased a new position in shares of EPAM Systems in the 3rd quarter valued at $27,127,000. Institutional investors and hedge funds own 94.19% of the company’s stock.
In other EPAM Systems news, SVP Boris Shnayder sold 15,000 shares of EPAM Systems stock in a transaction dated 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 owns 37,508 shares of the company’s stock, valued at approximately $5,997,529.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ronald P. Vargo sold 2,000 shares of EPAM Systems stock in a transaction dated 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 directly owns 10,276 shares of the company’s stock, valued at approximately $1,640,460.64. The disclosure for this sale can be found here. Insiders own 5.30% of the company’s stock.
EPAM Systems (NYSE:EPAM) last announced its earnings results on Thursday, February 14th. The information technology services provider reported $1.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.24. EPAM Systems had a return on equity of 19.23% and a net margin of 13.04%. The firm had revenue of $504.90 million for the quarter, compared to the consensus estimate of $501.43 million. During the same period in the previous year, the business earned $1.01 EPS. The firm’s revenue for the quarter was up 26.4% on a year-over-year basis. On average, equities research analysts forecast that EPAM Systems Inc will post 4.19 earnings per share for the current fiscal year.
A number of brokerages have recently issued reports on EPAM. Zacks Investment Research downgraded EPAM Systems from a “buy” rating to a “hold” rating in a report on Monday, January 21st. Wedbush boosted their target price on EPAM Systems from $150.00 to $158.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 13th. SunTrust Banks boosted their target price on EPAM Systems to $165.00 and gave the stock a “buy” rating in a research note on Monday, February 11th. KeyCorp boosted their target price on EPAM Systems from $144.00 to $164.00 and gave the stock an “overweight” rating in a research note on Monday, February 11th. Finally, JPMorgan Chase & Co. boosted their target price on EPAM Systems to $167.00 and gave the stock an “overweight” rating in a research note on Friday, February 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $154.73.
EPAM Systems Company 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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