EPAM Systems, Inc. (NYSE:EPAM) Shares Sold by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. trimmed its stake in EPAM Systems, Inc. (NYSE:EPAM) by 96.2% in the second quarter, HoldingsChannel.com reports. The fund owned 1,618 shares of the information technology services provider’s stock after selling 40,434 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in EPAM Systems were worth $304,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. ORG Partners LLC increased its position in EPAM Systems by 5,000.0% during the 2nd quarter. ORG Partners LLC now owns 153 shares of the information technology services provider’s stock worth $28,000 after purchasing an additional 150 shares in the last quarter. Riverview Trust Co purchased a new stake in shares of EPAM Systems during the first quarter worth about $29,000. Opal Wealth Advisors LLC acquired a new position in shares of EPAM Systems in the second quarter valued at approximately $29,000. Whittier Trust Co. purchased a new position in shares of EPAM Systems during the first quarter valued at approximately $64,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in EPAM Systems during the second quarter worth approximately $69,000. 91.58% of the stock is owned by institutional investors and hedge funds.

EPAM Systems Price Performance

Shares of EPAM stock opened at $194.15 on Thursday. The firm has a fifty day moving average of $199.89 and a two-hundred day moving average of $207.89. The firm has a market cap of $11.26 billion, a P/E ratio of 26.56, a P/E/G ratio of 4.36 and a beta of 1.45. EPAM Systems, Inc. has a 1-year low of $169.43 and a 1-year high of $317.50. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.84 and a quick ratio of 4.84.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings results on Thursday, August 8th. The information technology services provider reported $2.45 EPS for the quarter, topping the consensus estimate of $2.26 by $0.19. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. EPAM Systems had a net margin of 8.86% and a return on equity of 14.31%. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the company posted $2.21 earnings per share. As a group, research analysts anticipate that EPAM Systems, Inc. will post 8.07 earnings per share for the current fiscal year.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on EPAM. Itau BBA Securities raised EPAM Systems from an “underperform” rating to a “market perform” rating in a research report on Friday, August 9th. The Goldman Sachs Group assumed coverage on EPAM Systems in a report on Monday, June 24th. They issued a “neutral” rating and a $200.00 price target for the company. Susquehanna cut their price objective on shares of EPAM Systems from $260.00 to $240.00 and set a “positive” rating on the stock in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft began coverage on shares of EPAM Systems in a research report on Thursday, August 22nd. They issued a “hold” rating and a $204.00 target price on the stock. Finally, StockNews.com lowered shares of EPAM Systems from a “buy” rating to a “hold” rating in a research report on Friday, October 4th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $258.32.

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.