Procyon Advisors LLC Grows Position in EPAM Systems, Inc. (NYSE:EPAM)

Procyon Advisors LLC raised its position in EPAM Systems, Inc. (NYSE:EPAMGet Rating) by 2.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,871 shares of the information technology services provider’s stock after purchasing an additional 51 shares during the quarter. Procyon Advisors LLC’s holdings in EPAM Systems were worth $552,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Capital Research Global Investors raised its holdings in shares of EPAM Systems by 276.4% during 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 buying an additional 4,798,503 shares during the period. BlackRock Inc. raised its holdings in shares of EPAM Systems by 31.1% during the 4th quarter. BlackRock Inc. now owns 4,644,619 shares of the information technology services provider’s stock valued at $3,104,696,000 after buying an additional 1,102,837 shares during the period. State Street Corp raised its holdings in shares of EPAM Systems by 80.3% during the 4th quarter. State Street Corp now owns 2,265,288 shares of the information technology services provider’s stock valued at $1,514,232,000 after buying an additional 1,008,720 shares during the period. Norges Bank purchased a new stake in shares of EPAM Systems during the 4th quarter valued at about $333,066,000. Finally, Geode Capital Management LLC raised its holdings in shares of EPAM Systems by 46.2% during the 4th quarter. Geode Capital Management LLC now owns 1,083,728 shares of the information technology services provider’s stock valued at $722,658,000 after buying an additional 342,438 shares during the period. 90.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at EPAM Systems

In other EPAM Systems news, VP Gary C. Abrahams sold 557 shares of EPAM Systems 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 sale, the vice president now owns 1,495 shares of the company’s stock, valued at approximately $676,696.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other EPAM Systems news, SVP Viktar Dvorkin sold 13,333 shares of EPAM Systems stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $440.84, for a total transaction of $5,877,719.72. Following the sale, the senior vice president now owns 7,572 shares of the company’s stock, valued at approximately $3,338,040.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Gary C. Abrahams sold 557 shares of EPAM Systems stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $452.64, for a total value of $252,120.48. Following the sale, the vice president now directly owns 1,495 shares in the company, valued at approximately $676,696.80. The disclosure for this sale can be found here. Insiders sold 67,527 shares of company stock worth $28,901,058 in the last 90 days. 4.10% of the stock is currently owned by company insiders.

EPAM Systems Trading Down 2.6 %

NYSE:EPAM opened at $402.07 on Monday. EPAM Systems, Inc. has a 12-month low of $168.59 and a 12-month high of $725.40. The firm has a market capitalization of $23.07 billion, a P/E ratio of 64.95, a P/E/G ratio of 2.37 and a beta of 1.67. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.45 and a quick ratio of 3.45. The business has a 50 day simple moving average of $392.13 and a 200 day simple moving average of $328.95.

EPAM Systems (NYSE:EPAMGet Rating) last released its quarterly earnings data on Thursday, August 4th. The information technology services provider reported $2.38 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the previous year, the firm posted $1.90 EPS. The business’s revenue for the quarter was up 35.5% compared to the same quarter last year. Equities research analysts predict that EPAM Systems, Inc. will post 8.57 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Citigroup raised their target price on EPAM Systems to $520.00 in a report on Tuesday, August 9th. Wedbush lifted their price objective on EPAM Systems from $380.00 to $400.00 and gave the stock an “outperform” rating in a report on Monday, June 6th. Barclays lifted their price objective on EPAM Systems from $410.00 to $485.00 and gave the stock an “overweight” rating in a report on Monday, August 8th. Susquehanna dropped their price objective on EPAM Systems from $496.00 to $475.00 and set a “positive” rating on the stock in a report on Friday. Finally, Cowen lifted their price objective on EPAM Systems from $400.00 to $440.00 in a 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’s stock. Based on data from MarketBeat.com, EPAM Systems currently has an average rating of “Moderate Buy” and an average target price of $473.33.

EPAM Systems Profile

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

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