Assenagon Asset Management S.A. decreased its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 36.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 219,718 shares of the information technology services provider's stock after selling 126,483 shares during the quarter. Assenagon Asset Management S.A. owned 0.39% of EPAM Systems worth $37,097,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also modified their holdings of the business. EverSource Wealth Advisors LLC grew its stake in EPAM Systems by 90.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider's stock valued at $27,000 after purchasing an additional 54 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in EPAM Systems by 2,500.0% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 130 shares of the information technology services provider's stock valued at $30,000 after purchasing an additional 125 shares in the last quarter. TD Private Client Wealth LLC grew its stake in EPAM Systems by 88.5% in the fourth quarter. TD Private Client Wealth LLC now owns 147 shares of the information technology services provider's stock valued at $34,000 after purchasing an additional 69 shares in the last quarter. Sentry Investment Management LLC purchased a new position in EPAM Systems in the first quarter valued at about $33,000. Finally, Manchester Capital Management LLC grew its stake in EPAM Systems by 590.0% in the fourth quarter. Manchester Capital Management LLC now owns 207 shares of the information technology services provider's stock valued at $48,000 after purchasing an additional 177 shares in the last quarter. Hedge funds and other institutional investors own 91.58% of the company's stock.
EPAM Systems Stock Performance
Shares of NYSE EPAM traded down $5.40 during trading hours on Friday, hitting $170.44. 549,825 shares of the company's stock were exchanged, compared to its average volume of 700,893. The company's 50-day moving average price is $167.13 and its 200-day moving average price is $203.63. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.96 and a quick ratio of 4.56. The stock has a market capitalization of $9.66 billion, a price-to-earnings ratio of 21.74, a PEG ratio of 3.38 and a beta of 1.72. EPAM Systems, Inc. has a 1-year low of $138.15 and a 1-year high of $269.00.
EPAM Systems (NYSE:EPAM - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The information technology services provider reported $2.41 EPS for the quarter, beating the consensus estimate of $2.27 by $0.14. The firm had revenue of $1.30 billion during the quarter, compared to analysts' expectations of $1.28 billion. EPAM Systems had a return on equity of 14.60% and a net margin of 9.61%. The company's revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.46 EPS. On average, sell-side analysts expect that EPAM Systems, Inc. will post 8.9 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
EPAM has been the topic of a number of recent research reports. Scotiabank lowered their target price on EPAM Systems from $250.00 to $200.00 and set a "sector outperform" rating on the stock in a research note on Tuesday, April 29th. Wall Street Zen downgraded EPAM Systems from a "buy" rating to a "hold" rating in a research note on Saturday, April 12th. Morgan Stanley decreased their price target on EPAM Systems from $250.00 to $210.00 and set an "equal weight" rating for the company in a research note on Friday, May 9th. Stifel Nicolaus decreased their price target on EPAM Systems from $275.00 to $240.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Finally, Needham & Company LLC upped their price target on EPAM Systems from $185.00 to $215.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $233.93.
Check Out Our Latest Analysis on EPAM
EPAM Systems Company Profile
(
Free Report)
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, performance tuning, deployment, maintenance, and support services.
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