EPAM Systems, Inc. (NYSE:EPAM) Shares Sold by Panagora Asset Management Inc.

Panagora Asset Management Inc. reduced its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM) by 19.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,783 shares of the information technology services provider’s stock after selling 431 shares during the quarter. Panagora Asset Management Inc.’s holdings in EPAM Systems were worth $335,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in EPAM Systems by 4.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,014 shares of the information technology services provider’s stock valued at $2,072,000 after acquiring an additional 492 shares during the last quarter. State of Michigan Retirement System lifted its position in shares of EPAM Systems by 0.6% during the second quarter. State of Michigan Retirement System now owns 15,927 shares of the information technology services provider’s stock worth $2,996,000 after purchasing an additional 100 shares during the last quarter. Bank of New York Mellon Corp grew its stake in EPAM Systems by 4.1% in the second quarter. Bank of New York Mellon Corp now owns 379,834 shares of the information technology services provider’s stock worth $71,451,000 after purchasing an additional 15,116 shares in the last quarter. Bristlecone Advisors LLC increased its holdings in EPAM Systems by 25.1% in the second quarter. Bristlecone Advisors LLC now owns 3,334 shares of the information technology services provider’s stock valued at $627,000 after buying an additional 669 shares during the last quarter. Finally, Retirement Systems of Alabama raised its stake in EPAM Systems by 0.4% during the second quarter. Retirement Systems of Alabama now owns 12,788 shares of the information technology services provider’s stock valued at $2,406,000 after buying an additional 52 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

EPAM Systems Stock Down 2.7 %

EPAM Systems stock opened at $195.34 on Wednesday. EPAM Systems, Inc. has a 52 week low of $169.43 and a 52 week high of $317.50. The stock has a market cap of $11.32 billion, a price-to-earnings ratio of 26.72, a PEG ratio of 4.41 and a beta of 1.45. The company’s 50-day moving average price is $198.90 and its two-hundred day moving average price is $225.92. The company has a current ratio of 4.84, a quick ratio of 4.84 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAM) last posted its quarterly earnings data on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.19. EPAM Systems had a net margin of 8.86% and a return on equity of 14.31%. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period last year, the firm posted $2.21 earnings per share. The business’s revenue was down 2.0% on a year-over-year basis. On average, analysts expect that EPAM Systems, Inc. will post 8.07 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 repurchase $500.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to reacquire up to 4.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Mizuho decreased their target price on EPAM Systems from $345.00 to $258.00 and set a “buy” rating for the company in a research report on Tuesday, May 14th. Needham & Company LLC lowered their target price on shares of EPAM Systems from $350.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Scotiabank downgraded shares of EPAM Systems from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the stock from $300.00 to $245.00 in a research report on Friday, May 10th. The Goldman Sachs Group started coverage on shares of EPAM Systems in a report on Monday, June 24th. They issued a “neutral” rating and a $200.00 price target for the company. Finally, Redburn Atlantic began coverage on shares of EPAM Systems in a research note on Friday, May 24th. They set a “neutral” rating and a $195.00 price objective on the stock. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $260.21.

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.