CI Investments Inc. Acquires Shares of 953 EPAM Systems, Inc. (NYSE:EPAM)

CI Investments Inc. acquired a new stake in shares of EPAM Systems, Inc. (NYSE:EPAM) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 953 shares of the information technology services provider’s stock, valued at approximately $308,000.

A number of other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. lifted its position in shares of EPAM Systems by 2.6% during the 3rd quarter. BlackRock Inc. now owns 3,158,719 shares of the information technology services provider’s stock valued at $1,021,153,000 after buying an additional 81,421 shares in the last quarter. GQG Partners LLC grew its stake in shares of EPAM Systems by 18.3% during the second quarter. GQG Partners LLC now owns 873,976 shares of the information technology services provider’s stock valued at $220,272,000 after acquiring an additional 135,016 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of EPAM Systems by 0.7% during the third quarter. Wells Fargo & Company MN now owns 541,641 shares of the information technology services provider’s stock valued at $175,102,000 after acquiring an additional 3,639 shares in the last quarter. Marshall Wace LLP grew its stake in shares of EPAM Systems by 1.5% during the second quarter. Marshall Wace LLP now owns 452,993 shares of the information technology services provider’s stock valued at $114,159,000 after acquiring an additional 6,788 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of EPAM Systems by 2.4% during the second quarter. Bank of New York Mellon Corp now owns 406,169 shares of the information technology services provider’s stock valued at $102,357,000 after acquiring an additional 9,491 shares in the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Several analysts have recently weighed in on the company. Morgan Stanley raised their target price on EPAM Systems from $390.00 to $392.00 and gave the company an “overweight” rating in a research note on Friday, November 6th. VTB Capital cut shares of EPAM Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, August 5th. Stifel Nicolaus increased their price target on shares of EPAM Systems from $275.00 to $357.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Bank of America raised shares of EPAM Systems from a “neutral” rating to a “buy” rating and set a $364.00 price target on the stock in a research report on Thursday, November 12th. Finally, JPMorgan Chase & Co. increased their price target on shares of EPAM Systems from $240.00 to $356.00 and gave the stock an “overweight” rating in a research report on Monday, August 17th. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company’s stock. EPAM Systems presently has a consensus rating of “Buy” and a consensus target price of $294.87.

In related news, CFO Jason D. Peterson sold 1,000 shares of the company’s stock in a transaction dated Friday, November 13th. The shares were sold at an average price of $335.00, for a total value of $335,000.00. Following the sale, the chief financial officer now owns 12,557 shares of the company’s stock, valued at $4,206,595. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Sergey Yezhkov sold 3,250 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $327.59, for a total transaction of $1,064,667.50. In the last three months, insiders sold 14,201 shares of company stock worth $4,650,494. 4.80% of the stock is currently owned by insiders.

EPAM stock opened at $341.01 on Friday. The company has a current ratio of 4.37, a quick ratio of 4.37 and a debt-to-equity ratio of 0.01. EPAM Systems, Inc. has a 1 year low of $151.97 and a 1 year high of $356.98. The company has a fifty day simple moving average of $333.18 and a 200 day simple moving average of $287.34. The firm has a market cap of $19.09 billion, a PE ratio of 62.80, a PEG ratio of 4.30 and a beta of 1.45.

EPAM Systems (NYSE:EPAM) last released its quarterly earnings data on Thursday, November 5th. The information technology services provider reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.18. EPAM Systems had a net margin of 11.73% and a return on equity of 18.45%. The business had revenue of $652.20 million during the quarter, compared to analyst estimates of $641.55 million. During the same quarter in the previous year, the business earned $1.39 EPS. EPAM Systems’s quarterly revenue was up 10.9% compared to the same quarter last year. As a group, analysts forecast that EPAM Systems, Inc. will post 4.91 EPS for the current fiscal year.

EPAM Systems Company Profile

EPAM Systems, Inc provides digital platform engineering and software development services 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.

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

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