Bank of America Corp DE reduced its stake in shares of EPAM Systems, Inc. (NYSE:EPAM – Get Rating) by 28.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 256,480 shares of the information technology services provider's stock after selling 104,217 shares during the quarter. Bank of America Corp DE owned about 0.45% of EPAM Systems worth $76,073,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the stock. Neuberger Berman Group LLC grew its position in shares of EPAM Systems by 9.1% during the 1st quarter. Neuberger Berman Group LLC now owns 171,872 shares of the information technology services provider's stock worth $50,976,000 after buying an additional 14,360 shares during the period. Toroso Investments LLC grew its position in shares of EPAM Systems by 66.3% in the 1st quarter. Toroso Investments LLC now owns 1,588 shares of the information technology services provider's stock valued at $471,000 after purchasing an additional 633 shares during the period. Capital World Investors grew its position in shares of EPAM Systems by 2.2% in the 1st quarter. Capital World Investors now owns 1,764,856 shares of the information technology services provider's stock valued at $523,474,000 after purchasing an additional 38,642 shares during the period. Capital Research Global Investors grew its position in shares of EPAM Systems by 276.4% in the 1st quarter. Capital Research Global Investors now owns 6,534,789 shares of the information technology services provider's stock valued at $1,938,272,000 after purchasing an additional 4,798,503 shares during the period. Finally, BNP Paribas Arbitrage SA grew its position in shares of EPAM Systems by 189.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 64,683 shares of the information technology services provider's stock valued at $19,186,000 after purchasing an additional 42,365 shares during the period. 90.90% of the stock is currently owned by institutional investors and hedge funds.
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Shares of EPAM Systems stock opened at $364.12 on Monday. EPAM Systems, Inc. has a 12-month low of $168.59 and a 12-month high of $725.40. The stock has a market cap of $20.89 billion, a P/E ratio of 58.82, a P/E/G ratio of 2.15 and a beta of 1.67. The company has a quick ratio of 3.45, a current ratio of 3.45 and a debt-to-equity ratio of 0.01. The business's 50 day moving average is $399.76 and its 200-day moving average is $335.70.
EPAM Systems (NYSE:EPAM – Get Rating) last announced its quarterly earnings data on Thursday, August 4th. The information technology services provider reported $2.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.71 by $0.67. EPAM Systems had a return on equity of 21.72% and a net margin of 8.21%. The company had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.12 billion. During the same quarter in the prior year, the business posted $1.90 EPS. The business's revenue was up 35.5% compared to the same quarter last year. Equities research analysts predict that EPAM Systems, Inc. will post 8.57 earnings per share for the current fiscal year.Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on EPAM. KeyCorp began coverage on EPAM Systems in a research report on Monday, September 12th. They issued an "overweight" rating and a $510.00 price objective for the company. Morgan Stanley boosted their price objective on EPAM Systems from $465.00 to $480.00 and gave the company an "overweight" rating in a research report on Monday, August 8th. Susquehanna Bancshares decreased their price objective on EPAM Systems from $496.00 to $475.00 and set a "positive" rating for the company in a research report on Friday, September 16th. Cowen boosted their price objective on EPAM Systems from $400.00 to $440.00 in a research report on Friday, August 5th. Finally, Cowen upped their price target on EPAM Systems from $400.00 to $440.00 in a research report on Friday, August 5th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, EPAM Systems currently has an average rating of "Moderate Buy" and a consensus target price of $473.33.
Insider Activity at EPAM Systems
In related news, SVP Viktar Dvorkin sold 13,333 shares of the stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $440.84, for a total value of $5,877,719.72. Following the sale, the senior vice president now owns 7,572 shares in the company, valued at approximately $3,338,040.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other EPAM Systems news, VP Gary C. Abrahams sold 557 shares of the stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $452.64, for a total transaction of $252,120.48. Following the transaction, the vice president now owns 1,495 shares in the company, valued at approximately $676,696.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Viktar Dvorkin sold 13,333 shares of the stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $440.84, for a total value of $5,877,719.72. Following the transaction, the senior vice president now owns 7,572 shares in the company, valued at approximately $3,338,040.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 67,527 shares of company stock worth $28,901,058. Company insiders own 4.10% of the company's stock.
About EPAM Systems
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EPAM Systems, Inc provides digital platform engineering and software development services worldwide. 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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