EPAM Systems, Inc. (NYSE:EPAM) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale lessened its stake in EPAM Systems, Inc. (NYSE:EPAM) by 5.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,549 shares of the information technology services provider’s stock after selling 568 shares during the period. DekaBank Deutsche Girozentrale’s holdings in EPAM Systems were worth $2,073,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. boosted its position in EPAM Systems by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 6,865,123 shares of the information technology services provider’s stock worth $1,895,872,000 after purchasing an additional 39,531 shares in the last quarter. Pacer Advisors Inc. boosted its position in EPAM Systems by 14,325.2% in the 2nd quarter. Pacer Advisors Inc. now owns 657,070 shares of the information technology services provider’s stock worth $123,601,000 after purchasing an additional 652,515 shares in the last quarter. TD Asset Management Inc boosted its position in EPAM Systems by 80.0% in the 2nd quarter. TD Asset Management Inc now owns 595,486 shares of the information technology services provider’s stock worth $112,017,000 after purchasing an additional 264,570 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of EPAM Systems by 22.6% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 512,353 shares of the information technology services provider’s stock valued at $139,516,000 after buying an additional 94,544 shares in the last quarter. Finally, Manning & Napier Advisors LLC purchased a new position in shares of EPAM Systems during the 2nd quarter valued at approximately $84,850,000. Hedge funds and other institutional investors own 91.58% of the company’s stock.

EPAM Systems Stock Up 0.3 %

Shares of EPAM opened at $189.13 on Friday. EPAM Systems, Inc. has a 52-week low of $169.43 and a 52-week high of $317.50. The company has a market capitalization of $10.77 billion, a PE ratio of 27.10, a price-to-earnings-growth ratio of 4.15 and a beta of 1.45. The stock has a fifty day simple moving average of $198.06 and a two-hundred day simple moving average of $200.05. The company has a quick ratio of 4.84, a current ratio of 4.84 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAM) last issued its earnings results on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.19. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. EPAM Systems had a return on equity of 14.31% and a net margin of 8.86%. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period last year, the company earned $2.21 EPS. As a group, equities analysts forecast that EPAM Systems, Inc. will post 8.08 EPS for the current year.

EPAM Systems announced that its Board of Directors has initiated a share repurchase program on Thursday, August 8th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the information technology services provider to purchase up to 4.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

EPAM has been the topic of a number of recent analyst reports. Barclays increased their target price on EPAM Systems from $200.00 to $225.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft initiated coverage on EPAM Systems in a research report on Thursday, August 22nd. They set a “hold” rating and a $204.00 target price on the stock. Jefferies Financial Group increased their target price on EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Itau BBA Securities upgraded EPAM Systems from an “underperform” rating to a “market perform” rating in a research report on Friday, August 9th. Finally, Susquehanna decreased their target price on EPAM Systems from $260.00 to $240.00 and set a “positive” rating on the stock in a research report on Friday, August 9th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, EPAM Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $254.89.

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.