Deutsche Bank AG trimmed its position in shares of EPAM Systems Inc (NYSE:EPAM) by 53.9% during the 4th quarter, HoldingsChannel reports. The fund owned 46,479 shares of the information technology services provider’s stock after selling 54,395 shares during the period. Deutsche Bank AG’s holdings in EPAM Systems were worth $5,388,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of EPAM. Paradigm Asset Management Co. LLC purchased a new stake in shares of EPAM Systems during the 3rd quarter worth approximately $76,000. SG Americas Securities LLC purchased a new stake in shares of EPAM Systems during the 4th quarter worth approximately $123,000. Cerebellum GP LLC purchased a new stake in EPAM Systems during the 4th quarter valued at $167,000. M&T Bank Corp raised its holdings in EPAM Systems by 14.1% during the 4th quarter. M&T Bank Corp now owns 2,001 shares of the information technology services provider’s stock valued at $233,000 after buying an additional 247 shares during the period. Finally, BB&T Securities LLC purchased a new stake in EPAM Systems during the 4th quarter valued at $234,000. 94.18% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently weighed in on EPAM. Zacks Investment Research upgraded EPAM Systems from a “hold” rating to a “buy” rating and set a $178.00 price target on the stock in a report on Monday, February 25th. JPMorgan Chase & Co. increased their price target on EPAM Systems to $167.00 and gave the company an “overweight” rating in a report on Friday, February 15th. VTB Capital lowered EPAM Systems from a “hold” rating to a “sell” rating in a report on Friday, February 15th. Wedbush increased their price target on EPAM Systems from $150.00 to $158.00 and gave the company an “outperform” rating in a report on Wednesday, February 13th. Finally, KeyCorp increased their price target on EPAM Systems from $144.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, February 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $154.73.
EPAM Systems (NYSE:EPAM) last released its quarterly earnings results on Thursday, February 14th. The information technology services provider reported $1.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.24. EPAM Systems had a return on equity of 19.23% and a net margin of 13.04%. The company had revenue of $504.90 million for the quarter, compared to analyst estimates of $501.43 million. During the same quarter in the prior year, the firm posted $1.01 EPS. EPAM Systems’s quarterly revenue was up 26.4% compared to the same quarter last year. Sell-side analysts forecast that EPAM Systems Inc will post 4.19 EPS for the current year.
In other EPAM Systems news, Director Ronald P. Vargo sold 2,000 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $159.64, for a total value of $319,280.00. Following the transaction, the director now owns 10,276 shares of the company’s stock, valued at approximately $1,640,460.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Boris Shnayder sold 15,000 shares of the company’s stock in a transaction on Monday, February 25th. The shares were sold at an average price of $159.90, for a total value of $2,398,500.00. Following the completion of the transaction, the senior vice president now directly owns 37,508 shares in the company, valued at approximately $5,997,529.20. The disclosure for this sale can be found here. Corporate insiders own 5.30% of the company’s stock.
EPAM Systems Company Profile
EPAM Systems, Inc provides software product development and digital platform engineering services primarily in North America, Europe, Armenia, Belarus, Kazakhstan, Russia, Ukraine, Asia, and Australia. 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, and maintenance with private, public, and mobile infrastructures for application, database, network, server, storage, and systems operations management, as well as monitoring, incident notification, and resolution services; and maintenance and support services.
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