Inspire Investing LLC Sells 1,813 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Inspire Investing LLC reduced its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 14.4% in the second quarter, HoldingsChannel reports. The firm owned 10,809 shares of the information technology services provider’s stock after selling 1,813 shares during the quarter. Inspire Investing LLC’s holdings in EPAM Systems were worth $2,033,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Capital Research Global Investors grew its stake in shares of EPAM Systems by 0.7% during the 4th quarter. Capital Research Global Investors now owns 7,698,930 shares of the information technology services provider’s stock valued at $2,289,207,000 after acquiring an additional 51,228 shares during the period. Vanguard Group Inc. raised its holdings in EPAM Systems by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 6,865,123 shares of the information technology services provider’s stock valued at $1,895,872,000 after buying an additional 39,531 shares during the period. Norges Bank bought a new position in EPAM Systems in the 4th quarter valued at $184,713,000. TD Asset Management Inc grew its position in EPAM Systems by 80.0% in the 2nd quarter. TD Asset Management Inc now owns 595,486 shares of the information technology services provider’s stock valued at $112,017,000 after acquiring an additional 264,570 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its position in EPAM Systems by 22.6% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 512,353 shares of the information technology services provider’s stock valued at $139,516,000 after acquiring an additional 94,544 shares during the last quarter. 91.58% of the stock is currently owned by institutional investors.

EPAM Systems Trading Down 1.2 %

EPAM Systems stock opened at $197.94 on Thursday. The stock has a 50-day moving average of $202.95 and a two-hundred day moving average of $218.69. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.84 and a current ratio of 4.84. EPAM Systems, Inc. has a one year low of $169.43 and a one year high of $317.50. The stock has a market cap of $11.48 billion, a PE ratio of 27.08, a price-to-earnings-growth ratio of 4.48 and a beta of 1.45.

EPAM Systems (NYSE:EPAM) last released its quarterly earnings results on Thursday, August 8th. The information technology services provider reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.19. EPAM Systems had a return on equity of 14.31% and a net margin of 8.86%. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period last year, the business posted $2.21 earnings per share. The firm’s revenue was down 2.0% compared to the same quarter last year. On average, research analysts anticipate that EPAM Systems, Inc. will post 8.06 EPS for the current fiscal year.

EPAM Systems announced that its board has approved a share buyback program on Thursday, August 8th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the information technology services provider to buy up to 4.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts have commented on EPAM shares. Jefferies Financial Group upped their price objective on EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 9th. The Goldman Sachs Group began coverage on EPAM Systems in a research report on Monday, June 24th. They set a “neutral” rating and a $200.00 price target on the stock. Deutsche Bank Aktiengesellschaft began coverage on EPAM Systems in a research report on Thursday, August 22nd. They set a “hold” rating and a $204.00 price target on the stock. Redburn Atlantic began coverage on EPAM Systems in a research report on Friday, May 24th. They set a “neutral” rating and a $195.00 price target on the stock. Finally, Itau BBA Securities raised EPAM Systems from an “underperform” rating to a “market perform” rating in a research report on Friday, August 9th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $258.32.

EPAM Systems Profile

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.