Logan Capital Management Inc. Reduces Stake in EPAM Systems Inc (NYSE:EPAM)

Logan Capital Management Inc. reduced its position in EPAM Systems Inc (NYSE:EPAM) by 2.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,221 shares of the information technology services provider’s stock after selling 1,415 shares during the period. Logan Capital Management Inc. owned about 0.13% of EPAM Systems worth $11,982,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Redmond Asset Management LLC grew its holdings in EPAM Systems by 1.4% during the 1st quarter. Redmond Asset Management LLC now owns 6,328 shares of the information technology services provider’s stock valued at $1,070,000 after buying an additional 85 shares during the last quarter. Sheets Smith Wealth Management grew its holdings in EPAM Systems by 2.4% during the 1st quarter. Sheets Smith Wealth Management now owns 4,349 shares of the information technology services provider’s stock valued at $736,000 after buying an additional 101 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in EPAM Systems by 0.3% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 32,178 shares of the information technology services provider’s stock valued at $5,442,000 after buying an additional 111 shares during the last quarter. US Bancorp DE grew its holdings in EPAM Systems by 4.8% during the 1st quarter. US Bancorp DE now owns 2,560 shares of the information technology services provider’s stock valued at $433,000 after buying an additional 117 shares during the last quarter. Finally, Montag & Caldwell LLC grew its holdings in EPAM Systems by 4.1% during the 1st quarter. Montag & Caldwell LLC now owns 3,680 shares of the information technology services provider’s stock valued at $622,000 after buying an additional 144 shares during the last quarter. 91.21% of the stock is owned by hedge funds and other institutional investors.

EPAM stock opened at $187.83 on Friday. EPAM Systems Inc has a 52-week low of $104.77 and a 52-week high of $201.00. The business’s fifty day simple moving average is $184.89. The company has a quick ratio of 4.41, a current ratio of 4.41 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $10.58 billion, a PE ratio of 48.04, a price-to-earnings-growth ratio of 2.34 and a beta of 1.38.

EPAM Systems (NYSE:EPAM) last posted its quarterly earnings data on Thursday, May 9th. The information technology services provider reported $1.25 earnings per share (EPS) for the quarter, topping the 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 analysts’ expectations of $519.11 million. During the same quarter last year, the firm earned $0.93 earnings per share. The business’s revenue was up 22.9% on a year-over-year basis. As a group, sell-side analysts forecast that EPAM Systems Inc will post 4.24 EPS for the current year.

A number of brokerages have commented on EPAM. Wedbush reiterated an “outperform” rating and set a $180.00 target price (up previously from $158.00) on shares of EPAM Systems in a report on Wednesday, May 8th. Cowen increased their target price on EPAM Systems from $180.00 to $210.00 and gave the company a “positive” rating in a report on Wednesday, July 24th. They noted that the move was a valuation call. Finally, Zacks Investment Research cut EPAM Systems from a “buy” rating to a “hold” rating and set a $198.00 target price on the stock. in a report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $166.40.

In related news, CMO Elaina Shekhter sold 7,801 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $171.23, for a total value of $1,335,765.23. Following the transaction, the chief marketing officer now directly owns 7,659 shares of the company’s stock, valued at approximately $1,311,450.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Arkadiy Dobkin sold 125,000 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $177.08, for a total value of $22,135,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,593,490 shares in the company, valued at $282,175,209.20. The disclosure for this sale can be found here. Insiders have sold 362,189 shares of company stock worth $63,001,372 in the last 90 days. Insiders own 5.30% of the company’s stock.

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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