Amundi Sells 53,179 Shares of EPAM Systems, Inc. $EPAM

Key Points

• Amundi cut its EPAM Systems position by 50.3% in the first quarter, selling 53,179 shares and retaining 52,495 shares valued at approximately $7.1 million. Institutional investors collectively own 91.58% of the company.
• Analyst sentiment is mixed but has weakened, with several firms cutting price targets or downgrading the stock. EPAM carries a consensus “Hold” rating and an average target price of $132.64.
• EPAM shares opened at $109.44, well below their 52-week high of $222.53. Despite the stock pressure, the company exceeded quarterly earnings and revenue estimates, reporting $2.86 EPS and $1.40 billion in revenue, up 7.6% year over year.

Amundi lessened its position in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 50.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,495 shares of the information technology services provider's stock after selling 53,179 shares during the period. Amundi owned about 0.10% of EPAM Systems worth $7,108,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of EPAM. Boston Partners acquired a new position in EPAM Systems during the 4th quarter worth approximately $349,428,000. Capital World Investors increased its stake in EPAM Systems by 59.4% in the 4th quarter. Capital World Investors now owns 3,679,590 shares of the information technology services provider's stock valued at $753,874,000 after buying an additional 1,371,557 shares during the last quarter. Norges Bank acquired a new stake in EPAM Systems in the 4th quarter valued at $147,870,000. Price T Rowe Associates Inc. MD lifted its position in EPAM Systems by 849.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 784,101 shares of the information technology services provider's stock worth $160,649,000 after buying an additional 701,500 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in EPAM Systems by 56.9% during the 4th quarter. JPMorgan Chase & Co. now owns 1,147,930 shares of the information technology services provider's stock worth $235,188,000 after buying an additional 416,324 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Weiss Ratings cut EPAM Systems from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, May 7th. Susquehanna dropped their target price on EPAM Systems from $199.00 to $167.00 and set a "positive" rating on the stock in a report on Monday, May 4th. Citigroup reduced their price target on EPAM Systems from $112.00 to $100.00 and set a "neutral" rating for the company in a research report on Monday, July 27th. Needham & Company LLC lowered their price target on EPAM Systems from $175.00 to $135.00 and set a "buy" rating on the stock in a research report on Thursday, May 7th. Finally, The Goldman Sachs Group downgraded EPAM Systems from a "buy" rating to a "neutral" rating and cut their price objective for the company from $215.00 to $110.00 in a report on Friday, May 8th. Seven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $132.64.

EPAM Systems Stock Down 2.3%

Shares of EPAM opened at $109.44 on Thursday. The firm has a market cap of $5.72 billion, a P/E ratio of 15.70, a price-to-earnings-growth ratio of 1.06 and a beta of 1.39. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.67 and a current ratio of 2.67. EPAM Systems, Inc. has a 52 week low of $73.06 and a 52 week high of $222.53. The firm's 50-day simple moving average is $91.39 and its 200 day simple moving average is $124.86.

EPAM Systems (NYSE:EPAM - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The information technology services provider reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.75 by $0.11. EPAM Systems had a net margin of 6.96% and a return on equity of 14.71%. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same period last year, the business posted $2.41 earnings per share. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. On average, analysts forecast that EPAM Systems, Inc. will post 10.4 earnings per share for the current year.

EPAM Systems Company Profile

EPAM Systems, Inc is a global provider of digital platform engineering and software development services. The company partners with clients across industries—such as financial services, healthcare, retail, and technology—to design, develop, and maintain complex software applications and digital experiences. EPAM's offerings include custom software development, application management, infrastructure management, quality assurance, and testing services, enabling organizations to accelerate digital transformation and enhance operational efficiency.

In addition to its core engineering capabilities, EPAM delivers a range of specialized services, including product design and consulting, data and analytics, cloud computing, DevOps, and cybersecurity.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source