NuWave Investment Management LLC Makes New Investment in EPAM Systems, Inc. (NYSE:EPAM)

NuWave Investment Management LLC bought a new position in shares of EPAM Systems, Inc. (NYSE:EPAM – Get Rating) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 633 shares of the information technology services provider’s stock, valued at approximately $188,000.

Several other institutional investors have also recently modified their holdings of EPAM. BlackRock Inc. lifted its holdings in shares of EPAM Systems by 31.1% in the fourth quarter. BlackRock Inc. now owns 4,644,619 shares of the information technology services provider’s stock valued at $3,104,696,000 after purchasing an additional 1,102,837 shares in the last quarter. State Street Corp lifted its holdings in shares of EPAM Systems by 80.3% in the fourth quarter. State Street Corp now owns 2,265,288 shares of the information technology services provider’s stock valued at $1,514,232,000 after purchasing an additional 1,008,720 shares in the last quarter. Norges Bank bought a new stake in shares of EPAM Systems in the fourth quarter valued at about $333,066,000. Geode Capital Management LLC lifted its holdings in shares of EPAM Systems by 46.2% in the fourth quarter. Geode Capital Management LLC now owns 1,083,728 shares of the information technology services provider’s stock valued at $722,658,000 after purchasing an additional 342,438 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of EPAM Systems by 30.6% in the fourth quarter. Alliancebernstein L.P. now owns 1,318,132 shares of the information technology services provider’s stock valued at $881,105,000 after purchasing an additional 308,920 shares in the last quarter. Institutional investors own 95.24% of the company’s stock.

Shares of NYSE EPAM opened at $309.44 on Thursday. The business’s 50 day moving average price is $306.68 and its two-hundred day moving average price is $394.21. The company has a market cap of $17.68 billion, a PE ratio of 39.62, a price-to-earnings-growth ratio of 2.39 and a beta of 1.76. The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 0.01. EPAM Systems, Inc. has a twelve month low of $168.59 and a twelve month high of $725.40.

EPAM Systems (NYSE:EPAM – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The information technology services provider reported $2.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.82. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.06 billion. EPAM Systems had a return on equity of 21.92% and a net margin of 11.14%. The business’s revenue was up 50.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.63 earnings per share. As a group, research analysts anticipate that EPAM Systems, Inc. will post 7.3 EPS for the current fiscal year.

A number of brokerages have recently commented on EPAM. Citigroup boosted their price target on EPAM Systems from $325.00 to $380.00 in a report on Wednesday, April 20th. Susquehanna Bancshares upgraded EPAM Systems to a “positive” rating in a report on Monday, May 16th. Needham & Company LLC dropped their target price on EPAM Systems from $650.00 to $285.00 and set a “buy” rating on the stock in a report on Friday, March 11th. Wedbush upped their target price on EPAM Systems from $380.00 to $400.00 and gave the stock an “outperform” rating in a report on Monday, June 6th. Finally, StockNews.com started coverage on EPAM Systems in a report on Thursday, March 31st. They set a “hold” rating on the stock. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, EPAM Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $431.38.

In other news, CFO Jason D. Peterson sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $325.00, for a total value of $325,000.00. Following the transaction, the chief financial officer now owns 12,162 shares of the company’s stock, valued at $3,952,650. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Elaina Shekhter sold 100 shares of the company’s stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $347.10, for a total value of $34,710.00. Following the completion of the transaction, the chief marketing officer now directly owns 7,671 shares in the company, valued at approximately $2,662,604.10. The disclosure for this sale can be found here. Insiders sold 1,500 shares of company stock worth $493,710 in the last ninety days. 4.10% of the stock is owned by company insiders.

EPAM Systems Profile (Get Rating)

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, 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.

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