TD Asset Management Inc Sells 45,832 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Key Points

• TD Asset Management Inc. reduced its holdings in EPAM Systems, Inc. by 8.6% in Q1, now owning about 0.85% of the company, valued at $82.35 million.
• During the same period, several institutional investors, including American Century Companies Inc. and SG Americas Securities LLC, significantly increased their stakes in EPAM Systems.
• Analysts have mixed views on EPAM, with a consensus rating of "Moderate Buy" and a price target of $231.73, despite varying price targets from different firms.

TD Asset Management Inc lessened its holdings in EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 8.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 487,739 shares of the information technology services provider's stock after selling 45,832 shares during the quarter. TD Asset Management Inc owned approximately 0.85% of EPAM Systems worth $82,350,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. American Century Companies Inc. raised its holdings in EPAM Systems by 35.8% during the 4th quarter. American Century Companies Inc. now owns 20,597 shares of the information technology services provider's stock worth $4,816,000 after purchasing an additional 5,435 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of EPAM Systems by 18.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,248 shares of the information technology services provider's stock worth $1,224,000 after buying an additional 1,112 shares during the period. SG Americas Securities LLC increased its stake in shares of EPAM Systems by 518.9% in the 1st quarter. SG Americas Securities LLC now owns 6,950 shares of the information technology services provider's stock valued at $1,173,000 after acquiring an additional 5,827 shares in the last quarter. CX Institutional bought a new stake in shares of EPAM Systems in the 1st quarter valued at $42,000. Finally, Fifth Third Bancorp increased its stake in shares of EPAM Systems by 6.1% in the 1st quarter. Fifth Third Bancorp now owns 1,572 shares of the information technology services provider's stock valued at $265,000 after acquiring an additional 91 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company's stock.

EPAM Systems Stock Down 2.2%

EPAM traded down $3.54 during mid-day trading on Thursday, reaching $160.43. 178,476 shares of the stock were exchanged, compared to its average volume of 729,129. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.06 and a current ratio of 3.06. The stock has a market capitalization of $9.09 billion, a PE ratio of 22.44, a price-to-earnings-growth ratio of 2.37 and a beta of 1.70. The company has a 50 day moving average price of $173.00 and a two-hundred day moving average price of $188.29. 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 data on Thursday, May 8th. The information technology services provider reported $2.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.27 by $0.14. The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.28 billion. EPAM Systems had a net margin of 8.47% and a return on equity of 14.15%. The business's revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.46 EPS. As a group, research analysts anticipate that EPAM Systems, Inc. will post 8.9 EPS for the current year.

Wall Street Analysts Forecast Growth

EPAM has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of EPAM Systems in a research note on Thursday, July 17th. They issued a "hold" rating and a $171.00 price objective for the company. Stifel Nicolaus lowered their price objective on shares of EPAM Systems from $275.00 to $240.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Needham & Company LLC lifted their price objective on shares of EPAM Systems from $185.00 to $215.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Wall Street Zen lowered shares of EPAM Systems from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Finally, Susquehanna lowered their price objective on shares of EPAM Systems from $270.00 to $210.00 and set a "positive" rating for the company in a research note on Wednesday, April 23rd. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $231.73.

About EPAM Systems

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.