Millennium Management LLC Boosts Stock Position in EPAM Systems, Inc. (NYSE:EPAM)

Millennium Management LLC increased its stake in EPAM Systems, Inc. (NYSE:EPAM) by 935.7% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 378,829 shares of the information technology services provider’s stock after buying an additional 342,253 shares during the quarter. Millennium Management LLC’s holdings in EPAM Systems were worth $150,278,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of EPAM. Los Angeles Capital Management LLC boosted its stake in EPAM Systems by 37.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 17,973 shares of the information technology services provider’s stock valued at $6,441,000 after purchasing an additional 4,855 shares during the last quarter. LPL Financial LLC boosted its stake in EPAM Systems by 52.1% during the 4th quarter. LPL Financial LLC now owns 6,726 shares of the information technology services provider’s stock valued at $2,410,000 after purchasing an additional 2,304 shares during the last quarter. Penserra Capital Management LLC boosted its stake in EPAM Systems by 66.2% during the 4th quarter. Penserra Capital Management LLC now owns 113 shares of the information technology services provider’s stock valued at $40,000 after purchasing an additional 45 shares during the last quarter. Brown Advisory Inc. purchased a new stake in EPAM Systems during the 4th quarter valued at $408,000. Finally, Stifel Financial Corp lifted its holdings in shares of EPAM Systems by 30.4% during the 4th quarter. Stifel Financial Corp now owns 16,349 shares of the information technology services provider’s stock valued at $5,859,000 after buying an additional 3,815 shares during the period. Institutional investors and hedge funds own 91.74% of the company’s stock.

EPAM has been the topic of several research analyst reports. VTB Capital reissued a “hold” rating and set a $425.00 price target on shares of EPAM Systems in a report on Monday, April 19th. Needham & Company LLC increased their price target on EPAM Systems from $460.00 to $525.00 and gave the company a “buy” rating in a report on Thursday, May 6th. Morgan Stanley increased their price target on EPAM Systems from $467.00 to $510.00 and gave the company an “overweight” rating in a report on Monday, May 10th. Piper Sandler increased their price target on EPAM Systems from $507.00 to $517.00 and gave the company an “overweight” rating in a report on Monday, May 10th. Finally, Citigroup increased their price target on EPAM Systems from $520.00 to $620.00 and gave the company a “buy” rating in a report on Wednesday, July 14th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $463.50.

In other news, SVP Boris Shnayder sold 1,250 shares of the firm’s stock in a transaction dated Thursday, July 15th. The stock was sold at an average price of $538.43, for a total transaction of $673,037.50. Following the completion of the transaction, the senior vice president now owns 7,454 shares in the company, valued at $4,013,457.22. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Arkadiy Dobkin sold 42,500 shares of the firm’s stock in a transaction dated Monday, May 24th. The shares were sold at an average price of $482.88, for a total value of $20,522,400.00. Following the transaction, the chief executive officer now owns 1,361,893 shares of the company’s stock, valued at approximately $657,630,891.84. The disclosure for this sale can be found here. Insiders sold a total of 74,198 shares of company stock valued at $35,731,236 in the last quarter. 4.80% of the stock is currently owned by company insiders.

EPAM Systems stock traded up $1.37 during trading on Thursday, reaching $549.61. The company had a trading volume of 3,205 shares, compared to its average volume of 259,836. EPAM Systems, Inc. has a 52 week low of $271.00 and a 52 week high of $550.07. The business’s 50-day moving average is $501.74. The stock has a market capitalization of $31.00 billion, a price-to-earnings ratio of 91.53, a price-to-earnings-growth ratio of 3.62 and a beta of 1.36. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.32 and a quick ratio of 4.32.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings results on Thursday, May 6th. The information technology services provider reported $1.81 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.42. EPAM Systems had a return on equity of 18.17% and a net margin of 12.57%. The business had revenue of $780.80 million during the quarter, compared to analyst estimates of $763.88 million. During the same quarter in the prior year, the business posted $1.43 EPS. EPAM Systems’s revenue for the quarter was up 19.9% compared to the same quarter last year. On average, sell-side analysts forecast that EPAM Systems, Inc. will post 6.58 EPS for the current year.

About EPAM Systems

EPAM Systems, Inc provides digital platform engineering and software development services in North America, Europe, Russia, Belarus, Kazakhstan, Ukraine, Georgia, East Asia, Southeast 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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