National Asset Management Inc. Takes Position in EPAM Systems Inc (EPAM)

National Asset Management Inc. acquired a new position in shares of EPAM Systems Inc (NYSE:EPAM) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,835 shares of the information technology services provider’s stock, valued at approximately $311,000.

A number of other hedge funds have also made changes to their positions in EPAM. Norges Bank acquired a new position in EPAM Systems during the fourth quarter worth $60,882,000. Vanguard Group Inc grew its holdings in EPAM Systems by 2.7% in the third quarter. Vanguard Group Inc now owns 4,447,536 shares of the information technology services provider’s stock valued at $612,425,000 after purchasing an additional 117,376 shares during the last quarter. Victory Capital Management Inc. grew its holdings in EPAM Systems by 60.1% in the fourth quarter. Victory Capital Management Inc. now owns 286,659 shares of the information technology services provider’s stock valued at $33,255,000 after purchasing an additional 107,589 shares during the last quarter. BlackRock Inc. grew its holdings in EPAM Systems by 3.5% in the fourth quarter. BlackRock Inc. now owns 2,278,512 shares of the information technology services provider’s stock valued at $264,330,000 after purchasing an additional 76,660 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in EPAM Systems by 146.3% in the first quarter. Janus Henderson Group PLC now owns 128,320 shares of the information technology services provider’s stock valued at $21,703,000 after purchasing an additional 76,231 shares during the last quarter. 90.84% of the stock is currently owned by hedge funds and other institutional investors.

EPAM Systems stock opened at $167.31 on Monday. The company has a current ratio of 4.41, a quick ratio of 4.41 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $9.14 billion, a price-to-earnings ratio of 42.79, a PEG ratio of 2.02 and a beta of 1.63. EPAM Systems Inc has a fifty-two week low of $104.77 and a fifty-two week high of $180.55.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings data on Thursday, May 9th. The information technology services provider reported $1.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.33. EPAM Systems had a return on equity of 19.56% and a net margin of 12.19%. The business had revenue of $521.30 million for the quarter, compared to the consensus estimate of $519.11 million. During the same period in the prior year, the business earned $0.93 earnings per share. The business’s revenue was up 22.9% on a year-over-year basis. Equities analysts predict that EPAM Systems Inc will post 4.24 EPS for the current year.

In other news, CEO Arkadiy Dobkin sold 25,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $168.71, for a total value of $4,217,750.00. Following the sale, the chief executive officer now directly owns 1,738,490 shares in the company, valued at $293,300,647.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jason D. Peterson sold 1,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $170.25, for a total value of $170,250.00. Following the completion of the sale, the chief financial officer now owns 13,039 shares in the company, valued at $2,219,889.75. The disclosure for this sale can be found here. Insiders sold 50,801 shares of company stock worth $8,534,995 over the last 90 days. Company insiders own 5.30% of the company’s stock.

EPAM has been the topic of several research reports. VTB Capital lowered EPAM Systems from a “hold” rating to a “sell” rating in a report on Friday, February 15th. Zacks Investment Research raised EPAM Systems from a “hold” rating to a “buy” rating and set a $162.00 target price on the stock in a report on Tuesday, February 5th. JPMorgan Chase & Co. upped their target price on EPAM Systems to $167.00 and gave the company an “overweight” rating in a report on Friday, February 15th. KeyCorp upped their target price on EPAM Systems from $144.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, February 11th. Finally, SunTrust Banks upped their target price on EPAM Systems to $165.00 and gave the company a “buy” rating in a report on Monday, February 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $160.00.

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EPAM Systems 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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Institutional Ownership by Quarter for EPAM Systems (NYSE:EPAM)

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