KLP Kapitalforvaltning AS Sells 21,900 Shares of EPAM Systems, Inc. $EPAM

Key Points

• KLP Kapitalforvaltning AS sold 21,900 shares of EPAM Systems, Inc., reducing its stake by 65.2% to own 11,700 shares worth approximately $2.07 million by the end of the second quarter.
• After recent analyst ratings, EPAM has a consensus average rating of "Moderate Buy" with a price target of $224.06, despite some analysts lowering their price targets.
• For the latest quarter, EPAM reported earnings of $2.77 per share, exceeding expectations, with revenues reaching $1.35 billion, an 18% increase year-on-year.

KLP Kapitalforvaltning AS trimmed its stake in EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 65.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,700 shares of the information technology services provider's stock after selling 21,900 shares during the quarter. KLP Kapitalforvaltning AS's holdings in EPAM Systems were worth $2,069,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of EPAM. IFM Investors Pty Ltd boosted its stake in shares of EPAM Systems by 0.7% during the 1st quarter. IFM Investors Pty Ltd now owns 11,326 shares of the information technology services provider's stock worth $1,912,000 after acquiring an additional 76 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in shares of EPAM Systems by 3.2% during the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 2,592 shares of the information technology services provider's stock worth $434,000 after acquiring an additional 80 shares during the period. Fifth Third Bancorp boosted its stake in shares of EPAM Systems by 6.1% during the 1st quarter. Fifth Third Bancorp now owns 1,572 shares of the information technology services provider's stock worth $265,000 after acquiring an additional 91 shares during the period. Empirical Finance LLC boosted its stake in shares of EPAM Systems by 7.1% during the 1st quarter. Empirical Finance LLC now owns 1,457 shares of the information technology services provider's stock worth $246,000 after acquiring an additional 96 shares during the period. Finally, Yousif Capital Management LLC boosted its stake in shares of EPAM Systems by 1.4% during the 1st quarter. Yousif Capital Management LLC now owns 7,200 shares of the information technology services provider's stock worth $1,216,000 after acquiring an additional 97 shares during the period. 91.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

EPAM has been the subject of several research analyst reports. Wall Street Zen downgraded EPAM Systems from a "buy" rating to a "hold" rating in a research note on Saturday, September 13th. Cowen upgraded EPAM Systems from a "hold" rating to a "buy" rating in a research note on Monday, August 18th. TD Cowen upgraded EPAM Systems from a "hold" rating to a "buy" rating and set a $205.00 price target for the company in a research note on Monday, August 18th. JPMorgan Chase & Co. reduced their price target on EPAM Systems from $205.00 to $201.00 and set an "overweight" rating for the company in a research note on Wednesday, August 20th. Finally, Morgan Stanley reduced their price target on EPAM Systems from $210.00 to $175.00 and set an "equal weight" rating for the company in a research note on Tuesday, September 9th. Thirteen analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $224.06.

EPAM Systems Price Performance

Shares of NYSE EPAM opened at $142.61 on Monday. The stock has a market capitalization of $7.94 billion, a PE ratio of 20.34, a P/E/G ratio of 2.07 and a beta of 1.65. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.17 and a quick ratio of 3.17. The business has a fifty day moving average price of $159.44 and a two-hundred day moving average price of $164.79. EPAM Systems, Inc. has a fifty-two week low of $138.15 and a fifty-two week high of $269.00.

EPAM Systems (NYSE:EPAM - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The information technology services provider reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.61 by $0.16. The firm had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $1.33 billion. EPAM Systems had a return on equity of 14.00% and a net margin of 7.91%.The company's quarterly revenue was up 18.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.45 EPS. EPAM Systems has set its FY 2025 guidance at 10.960-11.120 EPS. Q3 2025 guidance at 2.980-3.060 EPS. As a group, equities 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.

Want to see what other hedge funds are holding EPAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for EPAM Systems, Inc. (NYSE:EPAM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.