Pacer Advisors Inc. Sells 1,674 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Key Points

• Pacer Advisors Inc. reduced its stake in EPAM Systems by 33.2%, owning 3,375 shares after selling 1,674 shares, valued at approximately $570,000.
• In the first quarter, Ninety One UK Ltd acquired a new stake valued at about $186.28 million, while Massachusetts Financial Services increased its stake by 98.8%, now holding 1,628,304 shares worth $274.92 million.
• EPAM Systems reported earnings per share of $2.41, surpassing analyst estimates, with a net margin of 8.47% and year-over-year revenue growth of 11.7%.

Pacer Advisors Inc. cut its stake in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 33.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,375 shares of the information technology services provider's stock after selling 1,674 shares during the period. Pacer Advisors Inc.'s holdings in EPAM Systems were worth $570,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital World Investors raised its stake in shares of EPAM Systems by 22.0% in the 4th quarter. Capital World Investors now owns 2,304,243 shares of the information technology services provider's stock valued at $538,778,000 after buying an additional 414,942 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of EPAM Systems by 39.8% in the fourth quarter. Ameriprise Financial Inc. now owns 2,181,143 shares of the information technology services provider's stock valued at $510,053,000 after purchasing an additional 620,551 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of EPAM Systems by 98.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,628,304 shares of the information technology services provider's stock valued at $274,923,000 after purchasing an additional 809,423 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of EPAM Systems by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 1,349,088 shares of the information technology services provider's stock valued at $314,616,000 after buying an additional 37,119 shares in the last quarter. Finally, Ninety One UK Ltd bought a new position in EPAM Systems during the first quarter worth $186,280,000. 91.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EPAM has been the subject of a number of recent research reports. Scotiabank reduced their target price on shares of EPAM Systems from $250.00 to $200.00 and set a "sector outperform" rating for the company in a research report on Tuesday, April 29th. Guggenheim boosted their target price on EPAM Systems from $210.00 to $215.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Wall Street Zen raised EPAM Systems from a "hold" rating to a "buy" rating in a research note on Saturday. Deutsche Bank Aktiengesellschaft started coverage on EPAM Systems in a research note on Thursday, July 17th. They issued a "hold" rating and a $171.00 price objective for the company. Finally, Susquehanna decreased their target price on shares of EPAM Systems from $270.00 to $210.00 and set a "positive" rating for the company in a research report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $231.73.

EPAM Systems Stock Down 2.4%

Shares of EPAM traded down $3.68 during trading hours on Tuesday, reaching $149.62. The stock had a trading volume of 517,294 shares, compared to its average volume of 731,952. EPAM Systems, Inc. has a 12 month low of $138.15 and a 12 month high of $269.00. The firm has a 50-day simple moving average of $171.59 and a 200 day simple moving average of $186.18. The company has a current ratio of 3.06, a quick ratio of 3.06 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $8.48 billion, a price-to-earnings ratio of 20.93, a P/E/G ratio of 2.25 and a beta of 1.67.

EPAM Systems (NYSE:EPAM - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The information technology services provider reported $2.41 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.14. The business had revenue of $1.30 billion for the quarter, compared to analysts' expectations of $1.28 billion. EPAM Systems had a return on equity of 14.15% and a net margin of 8.47%. The business's revenue was up 11.7% on a year-over-year basis. During the same period last year, the business earned $2.46 EPS. Equities research analysts predict that EPAM Systems, Inc. will post 8.9 earnings per share for the current fiscal year.

EPAM Systems Company Profile

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.