EPAM Systems Inc (NYSE:EPAM) Shares Purchased by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lifted its stake in EPAM Systems Inc (NYSE:EPAM) by 1.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 177,995 shares of the information technology services provider’s stock after purchasing an additional 2,934 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in EPAM Systems were worth $30,811,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. BlackRock Inc. increased its holdings in shares of EPAM Systems by 0.8% in the first 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 during the last quarter. OppenheimerFunds Inc. grew its position in EPAM Systems by 11.7% in the first quarter. OppenheimerFunds Inc. now owns 1,581,263 shares of the information technology services provider’s stock worth $267,438,000 after acquiring an additional 165,855 shares during the period. Wasatch Advisors Inc. grew its position in EPAM Systems by 2.7% in the first quarter. Wasatch Advisors Inc. now owns 611,167 shares of the information technology services provider’s stock worth $103,367,000 after acquiring an additional 16,194 shares during the period. Geode Capital Management LLC grew its position in EPAM Systems by 7.3% in the fourth quarter. Geode Capital Management LLC now owns 505,525 shares of the information technology services provider’s stock worth $58,645,000 after acquiring an additional 34,566 shares during the period. Finally, Victory Capital Management Inc. grew its position in EPAM Systems by 8.4% in the first quarter. Victory Capital Management Inc. now owns 310,804 shares of the information technology services provider’s stock worth $52,566,000 after acquiring an additional 24,145 shares during the period. 91.42% of the stock is owned by hedge funds and other institutional investors.

In other news, CEO Arkadiy Dobkin sold 15,592 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $172.27, for a total transaction of $2,686,033.84. Following the completion of the transaction, the chief executive officer now directly owns 1,443,490 shares in the company, valued at $248,670,022.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Jason D. Peterson sold 1,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $170.25, for a total value of $170,250.00. Following the transaction, the chief financial officer now owns 13,039 shares of the company’s stock, valued at $2,219,889.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 362,189 shares of company stock valued at $63,001,372. Company insiders own 5.40% of the company’s stock.



EPAM has been the subject of several analyst reports. Wedbush reiterated an “outperform” rating and issued a $180.00 price objective (up from $158.00) on shares of EPAM Systems in a research report on Wednesday, May 8th. Cantor Fitzgerald increased their price objective on EPAM Systems from $187.00 to $212.00 and gave the stock an “overweight” rating in a research report on Friday. Zacks Investment Research lowered EPAM Systems from a “buy” rating to a “hold” rating and set a $198.00 price objective for the company. in a research report on Wednesday, July 10th. Finally, Cowen increased their price objective on EPAM Systems from $180.00 to $210.00 and gave the stock a “positive” rating in a research report on Wednesday, July 24th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $173.00.

EPAM Systems stock traded up $2.63 during mid-day trading on Tuesday, hitting $189.07. The company’s stock had a trading volume of 11,367 shares, compared to its average volume of 410,529. The firm has a market cap of $10.35 billion, a price-to-earnings ratio of 48.43, a PEG ratio of 2.19 and a beta of 1.38. EPAM Systems Inc has a 1 year low of $104.77 and a 1 year high of $201.00. The company has a quick ratio of 4.41, a current ratio of 4.41 and a debt-to-equity ratio of 0.11. The business has a fifty day moving average price of $187.13.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings data on Thursday, August 8th. The information technology services provider reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.08. EPAM Systems had a return on equity of 19.49% and a net margin of 11.98%. The company had revenue of $551.60 million during the quarter, compared to analyst estimates of $549.84 million. During the same period in the prior year, the business posted $1.01 earnings per share. The firm’s revenue for the quarter was up 23.8% compared to the same quarter last year. As a group, analysts predict that EPAM Systems Inc will post 4.3 earnings per share for the current fiscal year.

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.

Featured Article: Green Investing

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.