Next Century Growth Investors LLC Sells 117 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Next Century Growth Investors LLC decreased its holdings in EPAM Systems, Inc. (NYSE:EPAM) by 2.8% during the 2nd quarter, Holdings Channel.com reports. The fund owned 4,044 shares of the information technology services provider’s stock after selling 117 shares during the quarter. Next Century Growth Investors LLC’s holdings in EPAM Systems were worth $2,066,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in EPAM. Seeyond raised its stake in shares of EPAM Systems by 25.0% in the second quarter. Seeyond now owns 3,170 shares of the information technology services provider’s stock worth $1,619,000 after purchasing an additional 633 shares during the last quarter. Natixis purchased a new position in EPAM Systems during the second quarter worth about $4,012,000. TrinityPoint Wealth LLC bought a new stake in EPAM Systems in the 2nd quarter worth about $205,000. Toroso Investments LLC purchased a new stake in EPAM Systems in the 2nd quarter valued at about $226,000. Finally, Affinity Capital Advisors LLC bought a new position in shares of EPAM Systems during the 2nd quarter worth approximately $254,000. Institutional investors and hedge funds own 91.55% of the company’s stock.

A number of analysts recently issued reports on the stock. William Blair restated a “buy” rating on shares of EPAM Systems in a report on Tuesday, August 3rd. Barclays lifted their price target on shares of EPAM Systems from $521.00 to $670.00 and gave the stock an “overweight” rating in a report on Monday, August 9th. Citigroup increased their price objective on EPAM Systems from $520.00 to $620.00 and gave the company a “buy” rating in a report on Wednesday, July 14th. Morgan Stanley raised their price target on shares of EPAM Systems from $510.00 to $700.00 and gave the company an “overweight” rating in a report on Monday, August 9th. Finally, Jefferies Financial Group raised EPAM Systems from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $455.00 to $670.00 in a report on Tuesday, August 3rd. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, EPAM Systems has an average rating of “Buy” and an average price target of $571.00.

In related news, Director Karl Robb sold 2,044 shares of the company’s stock in a transaction that occurred on Wednesday, August 11th. The stock was sold at an average price of $601.09, for a total value of $1,228,627.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Jason D. Peterson sold 643 shares of the business’s stock in a transaction dated Friday, August 13th. The shares were sold at an average price of $608.00, for a total value of $390,944.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,937 shares of company stock worth $3,610,997. 4.80% of the stock is currently owned by company insiders.

EPAM traded up $14.50 during trading on Thursday, hitting $611.07. 337 shares of the stock traded hands, compared to its average volume of 298,664. The firm has a market capitalization of $34.60 billion, a P/E ratio of 87.86, a price-to-earnings-growth ratio of 3.32 and a beta of 1.36. EPAM Systems, Inc. has a 12-month low of $305.83 and a 12-month high of $648.72. The firm has a 50-day moving average of $610.64 and a 200 day moving average of $528.78.

EPAM Systems (NYSE:EPAM) last posted its earnings results on Thursday, August 5th. The information technology services provider reported $2.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.94 by $0.11. EPAM Systems had a return on equity of 18.89% and a net margin of 13.12%. The company had revenue of $881.40 million for the quarter, compared to analysts’ expectations of $861.36 million. During the same period last year, the firm earned $1.46 earnings per share. EPAM Systems’s quarterly revenue was up 39.4% on a year-over-year basis. As a group, equities research analysts expect that EPAM Systems, Inc. will post 7.13 EPS for the current fiscal year.

EPAM Systems Profile

EPAM Systems, Inc engages in the provision of software product development and digital platform engineering services. It operates through the following geographical segments: North America, Europe, and Russia. The company was founded by Leonid Lozner and Arkadiy Dobkin in 1993 and is headquartered in Newtown, PA.

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

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