Toronto Dominion Bank Makes New $1.43 Million Investment in EPAM Systems Inc (NYSE:EPAM)

Toronto Dominion Bank acquired a new position in EPAM Systems Inc (NYSE:EPAM) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 8,267 shares of the information technology services provider’s stock, valued at approximately $1,431,000.

Other hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in shares of EPAM Systems by 1.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,701,508 shares of the information technology services provider’s stock valued at $467,170,000 after purchasing an additional 39,168 shares in the last quarter. BlackRock Inc. raised its stake in shares of EPAM Systems by 0.8% in the 1st quarter. BlackRock Inc. now owns 2,297,466 shares of the information technology services provider’s stock valued at $388,570,000 after purchasing an additional 18,954 shares in the last quarter. OppenheimerFunds Inc. raised its stake in shares of EPAM Systems by 11.7% in the 1st quarter. OppenheimerFunds Inc. now owns 1,581,263 shares of the information technology services provider’s stock valued at $267,438,000 after purchasing an additional 165,855 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of EPAM Systems by 5.0% in the 2nd quarter. Wells Fargo & Company MN now owns 888,075 shares of the information technology services provider’s stock valued at $153,726,000 after purchasing an additional 42,065 shares in the last quarter. Finally, Wasatch Advisors Inc. raised its stake in shares of EPAM Systems by 2.7% in the 1st quarter. Wasatch Advisors Inc. now owns 611,167 shares of the information technology services provider’s stock valued at $103,367,000 after purchasing an additional 16,194 shares in the last quarter. Hedge funds and other institutional investors own 90.53% of the company’s stock.

In other EPAM Systems news, CMO Elaina Shekhter sold 2,800 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $195.00, for a total value of $546,000.00. Following the completion of the transaction, the chief marketing officer now owns 10,459 shares in the company, valued at approximately $2,039,505. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Arkadiy Dobkin sold 30,485 shares of the company’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $175.82, for a total transaction of $5,359,872.70. Following the completion of the transaction, the chief executive officer now owns 1,459,082 shares of the company’s stock, valued at approximately $256,535,797.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,346 shares of company stock valued at $9,240,332. Insiders own 5.40% of the company’s stock.

Shares of NYSE:EPAM traded down $0.09 during trading on Wednesday, reaching $183.17. 5,981 shares of the company’s stock traded hands, compared to its average volume of 332,095. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.72 and a quick ratio of 4.72. EPAM Systems Inc has a 12 month low of $104.77 and a 12 month high of $201.00. The company has a 50 day moving average of $188.30 and a 200-day moving average of $177.74. The stock has a market capitalization of $10.05 billion, a P/E ratio of 46.91, a price-to-earnings-growth ratio of 2.08 and a beta of 1.43.

EPAM Systems (NYSE:EPAM) last announced its quarterly earnings data on Thursday, August 8th. The information technology services provider reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.08. EPAM Systems had a net margin of 11.98% and a return on equity of 18.90%. The business had revenue of $551.60 million during the quarter, compared to the consensus estimate of $549.84 million. During the same quarter in the prior year, the firm earned $1.01 EPS. The company’s revenue for the quarter was up 23.8% compared to the same quarter last year. Equities research analysts predict that EPAM Systems Inc will post 4.36 earnings per share for the current fiscal year.

A number of brokerages have recently issued reports on EPAM. Cantor Fitzgerald upped their target price on shares of EPAM Systems from $187.00 to $212.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Cowen upped their target price on shares of EPAM Systems from $180.00 to $210.00 and gave the company a “positive” rating in a research note on Wednesday, July 24th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded shares of EPAM Systems from a “hold” rating to a “buy” rating and set a $199.00 target price on the stock in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $176.00.

EPAM Systems Company 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.

See Also: P/E Growth (PEG)

Want to see what other hedge funds are holding EPAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for EPAM Systems Inc (NYSE:EPAM).

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

Receive News & Ratings for EPAM Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EPAM Systems and related companies with MarketBeat.com's FREE daily email newsletter.