Piedmont Investment Advisors Inc. Takes $506,000 Position in EPAM Systems Inc (EPAM)

Piedmont Investment Advisors Inc. acquired a new stake in EPAM Systems Inc (NYSE:EPAM) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 3,672 shares of the information technology services provider’s stock, valued at approximately $506,000.

Several other hedge funds also recently added to or reduced their stakes in EPAM. TRUE Private Wealth Advisors bought a new stake in shares of EPAM Systems in the 3rd quarter valued at approximately $166,000. North Star Asset Management Inc. bought a new stake in shares of EPAM Systems in the 3rd quarter valued at approximately $207,000. Oakbrook Investments LLC bought a new stake in shares of EPAM Systems in the 3rd quarter valued at approximately $213,000. Wetherby Asset Management Inc. bought a new stake in shares of EPAM Systems in the 3rd quarter valued at approximately $219,000. Finally, World Asset Management Inc bought a new stake in shares of EPAM Systems in the 2nd quarter valued at approximately $221,000. Institutional investors own 89.98% of the company’s stock.

In other EPAM Systems news, EVP Balazs Fejes sold 15,133 shares of the company’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $141.33, for a total transaction of $2,138,746.89. Following the transaction, the executive vice president now owns 28,458 shares of the company’s stock, valued at approximately $4,021,969.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Viktar Dvorkin sold 20,000 shares of the company’s stock in a transaction on Friday, August 31st. The stock was sold at an average price of $142.98, for a total value of $2,859,600.00. Following the transaction, the senior vice president now directly owns 29,258 shares in the company, valued at approximately $4,183,308.84. The disclosure for this sale can be found here. 5.30% of the stock is owned by corporate insiders.

NYSE EPAM opened at $120.52 on Friday. The company has a market cap of $6.51 billion, a P/E ratio of 42.29, a price-to-earnings-growth ratio of 1.80 and a beta of 1.24. EPAM Systems Inc has a one year low of $96.11 and a one year high of $144.19. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.11 and a current ratio of 5.11.

EPAM Systems (NYSE:EPAM) last released its quarterly earnings results on Thursday, November 1st. The information technology services provider reported $1.17 EPS for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.33. The business had revenue of $468.20 million for the quarter, compared to analyst estimates of $466.97 million. EPAM Systems had a return on equity of 19.19% and a net margin of 8.60%. EPAM Systems’s revenue for the quarter was up 24.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.92 EPS. Analysts forecast that EPAM Systems Inc will post 3.43 earnings per share for the current fiscal year.

Several equities research analysts have recently weighed in on EPAM shares. JPMorgan Chase & Co. upped their price objective on EPAM Systems from $152.00 to $157.00 and gave the company an “overweight” rating in a research note on Friday, November 2nd. Zacks Investment Research lowered EPAM Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, August 8th. Cantor Fitzgerald reiterated a “buy” rating and issued a $139.00 price objective on shares of EPAM Systems in a research note on Thursday, August 2nd. Citigroup upped their price objective on EPAM Systems from $142.00 to $153.00 and gave the company a “buy” rating in a research note on Friday, October 5th. Finally, Wedbush upped their price objective on EPAM Systems from $135.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, August 21st. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. EPAM Systems presently has an average rating of “Buy” and an average price target of $140.56.

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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.

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

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