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

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

Other institutional investors and hedge funds have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its holdings in EPAM Systems by 40.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 7,404 shares of the information technology services provider’s stock worth $3,783,000 after acquiring an additional 2,139 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in EPAM Systems by 134.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 75,899 shares of the information technology services provider’s stock valued at $30,108,000 after buying an additional 43,590 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of EPAM Systems by 342.1% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 6,684 shares of the information technology services provider’s stock worth $3,414,000 after buying an additional 5,172 shares in the last quarter. Teza Capital Management LLC purchased a new position in shares of EPAM Systems in the 2nd quarter worth approximately $1,071,000. Finally, TD Asset Management Inc. boosted its holdings in shares of EPAM Systems by 7.8% in the 1st quarter. TD Asset Management Inc. now owns 13,680 shares of the information technology services provider’s stock worth $5,427,000 after buying an additional 995 shares during the last quarter. Institutional investors own 91.55% of the company’s stock.

Several research analysts have recently commented on the company. Zacks Investment Research lowered EPAM Systems from a “buy” rating to a “hold” rating and set a $607.00 price objective for the company. in a report on Wednesday, October 6th. Citigroup raised their price objective on shares of EPAM Systems from $520.00 to $620.00 and gave the company a “buy” rating in a research report on Wednesday, July 14th. William Blair reaffirmed a “buy” rating on shares of EPAM Systems in a report on Tuesday, August 3rd. Barclays increased their target price on EPAM Systems from $521.00 to $670.00 and gave the company an “overweight” rating in a research note on Monday, August 9th. Finally, Jefferies Financial Group upgraded EPAM Systems from a “hold” rating to a “buy” rating and increased their price objective for the company from $455.00 to $670.00 in a research report on Tuesday, August 3rd. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus 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 on Wednesday, August 11th. The shares were sold at an average price of $601.09, for a total transaction 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 2,000 shares of the stock in a transaction dated Wednesday, August 11th. The shares were sold at an average price of $606.50, for a total transaction of $1,213,000.00. Following the completion of the transaction, the chief financial officer now directly owns 11,580 shares of the company’s stock, valued at approximately $7,023,270. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,937 shares of company stock valued at $3,610,997. 4.80% of the stock is currently owned by corporate insiders.

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

EPAM Systems (NYSE:EPAM) last announced its earnings results on Thursday, August 5th. The information technology services provider reported $2.05 EPS for the quarter, beating the Zacks’ consensus estimate of $1.94 by $0.11. The business had revenue of $881.40 million during the quarter, compared to analysts’ expectations of $861.36 million. EPAM Systems had a net margin of 13.12% and a return on equity of 18.89%. The firm’s revenue was up 39.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.46 earnings per share. On average, sell-side analysts expect that EPAM Systems, Inc. will post 7.13 EPS for the current year.

EPAM Systems Company 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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