Employees Retirement System of Texas Sells 500 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Employees Retirement System of Texas reduced its holdings in EPAM Systems, Inc. (NYSE:EPAM) by 4.5% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 10,518 shares of the information technology services provider’s stock after selling 500 shares during the period. Employees Retirement System of Texas’ holdings in EPAM Systems were worth $5,374,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. MAI Capital Management boosted its stake in shares of EPAM Systems by 1.4% during the 1st quarter. MAI Capital Management now owns 104,853 shares of the information technology services provider’s stock worth $41,594,000 after purchasing an additional 1,471 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of EPAM Systems by 134.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 75,899 shares of the information technology services provider’s stock worth $30,108,000 after purchasing an additional 43,590 shares during the period. Rockefeller Capital Management L.P. boosted its position in EPAM Systems by 342.1% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 6,684 shares of the information technology services provider’s stock valued at $3,414,000 after buying an additional 5,172 shares during the period. Teza Capital Management LLC purchased a new stake in EPAM Systems in the 2nd quarter valued at about $1,071,000. Finally, TD Asset Management Inc. boosted its position in EPAM Systems by 7.8% in the 1st quarter. TD Asset Management Inc. now owns 13,680 shares of the information technology services provider’s stock valued at $5,427,000 after buying an additional 995 shares during the period. 91.55% of the stock is owned by institutional investors and hedge funds.

In other EPAM Systems news, CFO Jason D. Peterson sold 643 shares of the business’s stock in a transaction on Friday, August 13th. The shares were sold at an average price of $608.00, for a total transaction of $390,944.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Boris Shnayder sold 1,250 shares of the business’s stock in a transaction dated Thursday, July 15th. The stock was sold at an average price of $538.43, for a total transaction of $673,037.50. Following the completion of the sale, the senior vice president now owns 7,454 shares in the company, valued at $4,013,457.22. The disclosure for this sale can be found here. Insiders sold a total of 5,937 shares of company stock worth $3,505,609 over the last ninety days. Corporate insiders own 4.80% of the company’s stock.

EPAM has been the subject of several recent analyst reports. Barclays boosted their price objective on shares of EPAM Systems from $521.00 to $670.00 and gave the stock an “overweight” rating in a research note on Monday, August 9th. Jefferies Financial Group raised shares of EPAM Systems from a “hold” rating to a “buy” rating and upped their price objective for the company from $455.00 to $670.00 in a report on Tuesday, August 3rd. Citigroup upped their price objective on shares of EPAM Systems from $520.00 to $620.00 and gave the company a “buy” rating in a report on Wednesday, July 14th. William Blair reissued a “buy” rating on shares of EPAM Systems in a report on Tuesday, August 3rd. Finally, Piper Sandler increased their price target on shares of EPAM Systems from $517.00 to $689.00 and gave the stock an “overweight” rating in a report on Friday, August 6th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, EPAM Systems presently has a consensus rating of “Buy” and an average target price of $567.00.

EPAM stock opened at $627.37 on Friday. EPAM Systems, Inc. has a twelve month low of $305.83 and a twelve month high of $648.72. The company’s 50 day moving average is $593.89 and its two-hundred day moving average is $498.24. The stock has a market cap of $35.53 billion, a P/E ratio of 92.40, a PEG ratio of 3.32 and a beta of 1.36.

EPAM Systems (NYSE:EPAM) last announced its earnings results on Thursday, August 5th. The information technology services provider reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.11. The business had revenue of $881.40 million for the quarter, compared to analysts’ expectations of $861.36 million. EPAM Systems had a net margin of 13.12% and a return on equity of 18.89%. The company’s quarterly revenue was up 39.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.46 EPS. On average, equities analysts predict that EPAM Systems, Inc. will post 7.13 EPS for the current year.

EPAM Systems Profile

EPAM Systems, Inc engages in the provision of software product development and digital platform engineering services. It operates through the following geographical segments: North America, Europe, and Russia. The company was founded by Leonid Lozner and Arkadiy Dobkin in 1993 and is headquartered in Newtown, PA.

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Institutional Ownership by Quarter for EPAM Systems (NYSE:EPAM)

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