EPAM Systems, Inc. (EPAM) Position Cut by Citigroup Inc.
Citigroup Inc. lowered its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM) by 14.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,940 shares of the information technology services provider’s stock after selling 486 shares during the quarter. Citigroup Inc.’s holdings in EPAM Systems were worth $247,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of EPAM. GSA Capital Partners LLP raised its position in shares of EPAM Systems by 81.0% in the 2nd quarter. GSA Capital Partners LLP now owns 9,787 shares of the information technology services provider’s stock worth $823,000 after acquiring an additional 4,380 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in EPAM Systems by 9.8% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 24,692 shares of the information technology services provider’s stock valued at $2,076,000 after buying an additional 2,197 shares in the last quarter. Quantitative Investment Management LLC acquired a new position in EPAM Systems during the 2nd quarter valued at about $2,337,000. Mutual of America Capital Management LLC increased its position in EPAM Systems by 30.3% during the 2nd quarter. Mutual of America Capital Management LLC now owns 63,562 shares of the information technology services provider’s stock valued at $5,345,000 after buying an additional 14,793 shares in the last quarter. Finally, Acrospire Investment Management LLC acquired a new position in EPAM Systems during the 2nd quarter valued at about $101,000. Institutional investors own 87.82% of the company’s stock.
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Several brokerages recently issued reports on EPAM. KeyCorp reaffirmed a “buy” rating on shares of EPAM Systems in a research report on Friday. BidaskClub downgraded EPAM Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, August 30th. Berenberg Bank set a $95.00 target price on EPAM Systems and gave the stock a “buy” rating in a research note on Sunday, August 6th. UBS AG increased their price target on EPAM Systems from $89.00 to $96.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Finally, Cowen and Company reiterated a “buy” rating and set a $95.00 price target on shares of EPAM Systems in a research report on Thursday, October 12th. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $93.14.
In other news, CEO Arkadiy Dobkin sold 15,000 shares of the firm’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $90.92, for a total transaction of $1,363,800.00. Following the transaction, the chief executive officer now owns 2,025,851 shares in the company, valued at approximately $184,190,372.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Elaina Shekhter sold 500 shares of the firm’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $90.00, for a total transaction of $45,000.00. The disclosure for this sale can be found here. Insiders sold a total of 258,000 shares of company stock valued at $21,625,845 in the last ninety days. Company insiders own 6.17% of the company’s stock.
Shares of EPAM Systems, Inc. (NYSE EPAM) opened at 90.54 on Friday. The stock has a market cap of $4.76 billion, a price-to-earnings ratio of 43.72 and a beta of 0.99. The stock’s 50 day moving average price is $86.59 and its 200 day moving average price is $82.71. EPAM Systems, Inc. has a 52 week low of $54.53 and a 52 week high of $91.23.
EPAM Systems (NYSE:EPAM) last issued its earnings results on Thursday, August 3rd. The information technology services provider reported $0.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.18. The firm had revenue of $348.98 million during the quarter, compared to analysts’ expectations of $342.00 million. EPAM Systems had a net margin of 8.71% and a return on equity of 15.12%. The firm’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same period last year, the firm posted $0.71 earnings per share. Equities research analysts anticipate that EPAM Systems, Inc. will post $3.30 EPS for the current fiscal year.
EPAM Systems Profile
EPAM Systems, Inc is a g provider of software product development and digital platform engineering services to clients located primarily in North America, Europe, Asia and Australia. The Company’s service offerings cover the full software product development lifecycle from digital strategy and customer experience design to enterprise application platforms implementation and program management services and from complex software development services to maintenance, support, custom application development, application testing, and infrastructure management.
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