Royal Bank of Canada Sells 26,610 Shares of EPAM Systems, Inc. $EPAM

Key Points

• Royal Bank of Canada reduced its EPAM Systems stake by 4.8%, selling 26,610 shares in the first quarter and retaining 525,913 shares valued at approximately $71.2 million.
• Institutional investors own 91.58% of EPAM’s outstanding shares, with several funds increasing their positions during the fourth quarter.
• Analysts have a consensus “Hold” rating and an average price target of $133.50, while EPAM recently exceeded quarterly earnings and revenue estimates, reporting $2.86 in EPS and $1.40 billion in revenue.

Royal Bank of Canada lowered its position in EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 4.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 525,913 shares of the information technology services provider's stock after selling 26,610 shares during the quarter. Royal Bank of Canada owned approximately 1.01% of EPAM Systems worth $71,209,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of EPAM. Asset Management One Co. Ltd. raised its holdings in shares of EPAM Systems by 2.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 2,074 shares of the information technology services provider's stock valued at $439,000 after purchasing an additional 51 shares during the period. Rothschild Investment LLC grew its holdings in EPAM Systems by 51.4% during the fourth quarter. Rothschild Investment LLC now owns 159 shares of the information technology services provider's stock worth $33,000 after purchasing an additional 54 shares during the period. Horizon Investments LLC grew its holdings in EPAM Systems by 6.4% during the fourth quarter. Horizon Investments LLC now owns 928 shares of the information technology services provider's stock worth $190,000 after purchasing an additional 56 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. increased its position in EPAM Systems by 4.5% during the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 1,570 shares of the information technology services provider's stock worth $322,000 after buying an additional 67 shares during the last quarter. Finally, Perpetual Ltd raised its stake in EPAM Systems by 2.5% in the fourth quarter. Perpetual Ltd now owns 2,897 shares of the information technology services provider's stock valued at $594,000 after buying an additional 72 shares during the period. Institutional investors own 91.58% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on EPAM shares. Wells Fargo & Company reduced their target price on EPAM Systems from $151.00 to $125.00 and set an "overweight" rating for the company in a research note on Friday, July 10th. TD Cowen dropped their price target on EPAM Systems from $170.00 to $131.00 and set a "buy" rating on the stock in a research note on Thursday, July 9th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $85.00 price target on shares of EPAM Systems in a report on Friday, July 10th. Truist Financial reduced their price objective on shares of EPAM Systems from $146.00 to $112.00 and set a "hold" rating for the company in a research report on Friday, May 8th. Finally, Jefferies Financial Group lowered shares of EPAM Systems from a "buy" rating to a "hold" rating and dropped their price objective for the company from $130.00 to $110.00 in a research report on Friday, May 29th. Seven equities 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 MarketBeat.com, the company has an average rating of "Hold" and an average target price of $133.50.

EPAM Systems Stock Performance

NYSE:EPAM opened at $105.85 on Friday. The stock has a market cap of $5.53 billion, a P/E ratio of 15.19, a PEG ratio of 1.00 and a beta of 1.43. The stock has a 50 day simple moving average of $90.90 and a 200 day simple moving average of $127.71. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.05. EPAM Systems, Inc. has a 1-year low of $73.06 and a 1-year high of $222.53.

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 EPS for the quarter, beating analysts' consensus estimates of $2.75 by $0.11. EPAM Systems had a return on equity of 14.71% and a net margin of 6.96%.The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period in the prior year, the firm posted $2.41 EPS. The company's revenue for the quarter was up 7.6% on a year-over-year basis. Research analysts anticipate that EPAM Systems, Inc. will post 10.4 earnings per share for the current year.

EPAM Systems 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.

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