EPAM Systems (EPAM) Shares Sold by Azimuth Capital Management LLC

Azimuth Capital Management LLC trimmed its holdings in shares of EPAM Systems (NYSE:EPAM) by 30.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,305 shares of the information technology services provider’s stock after selling 33,455 shares during the quarter. Azimuth Capital Management LLC owned approximately 0.14% of EPAM Systems worth $8,624,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. BlackRock Inc. raised its stake in shares of EPAM Systems by 11.9% during the 1st quarter. BlackRock Inc. now owns 3,743,627 shares of the information technology services provider’s stock worth $428,720,000 after buying an additional 398,653 shares during the period. Wasatch Advisors Inc. raised its stake in shares of EPAM Systems by 5.0% during the 1st quarter. Wasatch Advisors Inc. now owns 567,824 shares of the information technology services provider’s stock worth $65,027,000 after buying an additional 27,085 shares during the period. Geode Capital Management LLC increased its position in shares of EPAM Systems by 6.6% during the fourth quarter. Geode Capital Management LLC now owns 407,598 shares of the information technology services provider’s stock worth $43,788,000 after purchasing an additional 25,157 shares in the last quarter. Martin Currie Ltd. increased its position in shares of EPAM Systems by 7.4% during the fourth quarter. Martin Currie Ltd. now owns 405,816 shares of the information technology services provider’s stock worth $43,597,000 after purchasing an additional 27,899 shares in the last quarter. Finally, Grandeur Peak Global Advisors LLC increased its position in shares of EPAM Systems by 0.8% during the fourth quarter. Grandeur Peak Global Advisors LLC now owns 378,825 shares of the information technology services provider’s stock worth $40,697,000 after purchasing an additional 2,900 shares in the last quarter. 90.66% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:EPAM opened at $123.18 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.39 and a quick ratio of 5.39. The firm has a market capitalization of $6.52 billion, a price-to-earnings ratio of 43.22, a P/E/G ratio of 1.88 and a beta of 0.94. EPAM Systems has a 52-week low of $77.96 and a 52-week high of $131.75.

EPAM Systems (NYSE:EPAM) last issued its earnings results on Wednesday, May 9th. The information technology services provider reported $0.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.02. The company had revenue of $424.15 million during the quarter, compared to analysts’ expectations of $414.15 million. EPAM Systems had a return on equity of 17.45% and a net margin of 7.33%. The firm’s quarterly revenue was up 30.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.72 EPS. equities analysts expect that EPAM Systems will post 3.27 earnings per share for the current fiscal year.

Several analysts recently commented on the company. SunTrust Banks assumed coverage on EPAM Systems in a research report on Thursday, April 19th. They set a “buy” rating and a $130.00 price target for the company. KeyCorp reiterated an “overweight” rating and set a $132.00 price target (up from $123.00) on shares of EPAM Systems in a research report on Tuesday, February 20th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $130.00 price target (up from $118.00) on shares of EPAM Systems in a research report on Friday, March 16th. Cantor Fitzgerald reiterated a “buy” rating and set a $139.00 price target on shares of EPAM Systems in a research report on Wednesday, May 9th. Finally, Pivotal Research set a $135.00 price target on EPAM Systems and gave the stock a “buy” rating in a research report on Friday, February 16th. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $125.25.

In other EPAM Systems news, SVP Elaina Shekhter sold 6,700 shares of the company’s stock in a transaction on Tuesday, May 22nd. The stock was sold at an average price of $123.98, for a total value of $830,666.00. Following the completion of the sale, the senior vice president now directly owns 18,186 shares in the company, valued at approximately $2,254,700.28. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Jason D. Peterson sold 3,120 shares of the company’s stock in a transaction on Friday, May 11th. The shares were sold at an average price of $129.78, for a total value of $404,913.60. Following the completion of the sale, the chief financial officer now owns 10,627 shares of the company’s stock, valued at $1,379,172.06. The disclosure for this sale can be found here. 5.30% of the stock is owned by corporate insiders.

EPAM Systems Profile

EPAM Systems, Inc provides software product development and digital platform engineering services primarily in North America, Europe, Asia, and Australia. It offers software product development services, including product research, customer experience design, prototyping, program management, component design and integration, lifecycle software testing, product deployment, end-user customization, performance tuning, product support and maintenance, managed services, and porting and cross-platform migration.

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

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