EPAM Systems, Inc. $EPAM Stake Lowered by Aikya Investment Management Ltd

Key Points

• Aikya Investment Management cut its EPAM Systems stake by 13.3%, selling 181,620 shares, but still held 1.18 million shares worth about $128.3 million. EPAM remains its largest portfolio position at 38% of assets.
• EPAM beat quarterly estimates, reporting earnings of $3.51 per share versus $3.41 expected and revenue of $1.43 billion versus $1.42 billion; revenue rose 2.3% year over year.
• Analyst sentiment was mixed: six analysts rated the stock Buy and 11 Hold, leaving a consensus Hold rating and an average price target of $145.87.

Aikya Investment Management Ltd lessened its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 13.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,184,293 shares of the information technology services provider's stock after selling 181,620 shares during the period. EPAM Systems accounts for 38.0% of Aikya Investment Management Ltd's portfolio, making the stock its largest position. Aikya Investment Management Ltd owned 2.30% of EPAM Systems worth $128,330,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in EPAM. Maryland State Retirement & Pension System grew its holdings in shares of EPAM Systems by 37.4% in the 3rd quarter. Maryland State Retirement & Pension System now owns 14,223 shares of the information technology services provider's stock valued at $1,541,000 after buying an additional 3,873 shares during the period. Davis Investment Partners LLC bought a new stake in shares of EPAM Systems in the 3rd quarter valued at $372,000. Illinois Municipal Retirement Fund raised its stake in EPAM Systems by 252.9% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 58,749 shares of the information technology services provider's stock worth $6,366,000 after buying an additional 42,103 shares during the period. Fulcrum Asset Management LLP raised its stake in EPAM Systems by 96,341.9% during the 3rd quarter. Fulcrum Asset Management LLP now owns 29,897 shares of the information technology services provider's stock worth $3,203,000 after buying an additional 29,866 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new stake in EPAM Systems during the 3rd quarter worth $3,602,000. Institutional investors and hedge funds own 91.58% of the company's stock.

Insiders Place Their Bets

In other EPAM Systems news, SVP Lawrence Solomon sold 3,299 shares of the firm's stock in a transaction on Thursday, November 12th. The stock was sold at an average price of $160.14, for a total transaction of $528,301.86. Following the completion of the sale, the senior vice president owned 30,390 shares of the company's stock, valued at $4,866,654.60. This trade represents a 9.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.80% of the stock is currently owned by company insiders.

EPAM Systems Stock Up 0.7%

Shares of EPAM stock opened at $163.88 on Friday. The company has a current ratio of 2.76, a quick ratio of 2.76 and a debt-to-equity ratio of 0.01. EPAM Systems, Inc. has a 1 year low of $73.06 and a 1 year high of $222.53. The firm's fifty day moving average price is $125.48 and its two-hundred day moving average price is $120.28. The firm has a market capitalization of $8.36 billion, a P/E ratio of 20.48, a PEG ratio of 1.69 and a beta of 1.28.

EPAM Systems (NYSE:EPAM - Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The information technology services provider reported $3.51 earnings per share for the quarter, beating the consensus estimate of $3.41 by $0.10. EPAM Systems had a return on equity of 16.76% and a net margin of 7.53%. The company had revenue of $1.43 billion during the quarter, compared to analysts' expectations of $1.42 billion. During the same quarter last year, the company earned $3.08 EPS. EPAM Systems's revenue for the quarter was up 2.3% compared to the same quarter last year. On average, equities analysts predict that EPAM Systems, Inc. will post 10.50 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on EPAM shares. Weiss Ratings upgraded EPAM Systems from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, October 23rd. Susquehanna lifted their price objective on EPAM Systems from $146.00 to $190.00 and gave the company a "positive" rating in a report on Friday, November 6th. Truist Financial lifted their price objective on EPAM Systems from $110.00 to $150.00 and gave the company a "hold" rating in a report on Friday, November 6th. Mizuho set a $130.00 price objective on EPAM Systems in a research report on Monday, August 10th. Finally, Wedbush increased their target price on EPAM Systems from $99.00 to $160.00 and gave the stock a "neutral" rating in a research note on Friday, November 6th. Six analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $145.87.

EPAM Systems Company Profile

EPAM Systems is a global provider of software engineering, digital transformation and consulting services. The company helps businesses design, build and maintain software products and digital platforms, and offers services in areas such as cloud computing, data and artificial intelligence, and cybersecurity. Founded in 1993 by Arkadiy Dobkin, EPAM has grown from a software development firm into a technology services company serving clients across the Americas, Europe and Asia-Pacific. It works with organizations in industries including financial services, healthcare, retail and technology.

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