Boston Private Wealth LLC Purchases New Position in EPAM Systems, Inc. (NYSE:EPAM)

Boston Private Wealth LLC purchased a new stake in EPAM Systems, Inc. (NYSE:EPAM) in the 3rd quarter, HoldingsChannel reports. The firm purchased 358 shares of the information technology services provider’s stock, valued at approximately $204,000.

Other institutional investors have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its stake 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 buying an additional 2,139 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in 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. Vontobel Holding Ltd. increased its stake in EPAM Systems by 207.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 12,820 shares of the information technology services provider’s stock worth $7,313,000 after buying an additional 8,646 shares in the last quarter. MML Investors Services LLC increased its stake in EPAM Systems by 198.3% during the 2nd quarter. MML Investors Services LLC now owns 5,167 shares of the information technology services provider’s stock worth $2,640,000 after buying an additional 3,435 shares in the last quarter. Finally, Natixis purchased a new stake in EPAM Systems during the 2nd quarter worth approximately $4,012,000. Hedge funds and other institutional investors own 89.98% of the company’s stock.

EPAM opened at $543.06 on Friday. EPAM Systems, Inc. has a one year low of $333.68 and a one year high of $725.40. The stock has a market capitalization of $30.80 billion, a PE ratio of 75.32, a P/E/G ratio of 1.99 and a beta of 1.44. The business’s 50 day moving average price is $636.62 and its 200 day moving average price is $611.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.31 and a current ratio of 3.31.

EPAM Systems (NYSE:EPAM) last released its quarterly earnings data on Thursday, November 4th. The information technology services provider reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.20. EPAM Systems had a return on equity of 19.79% and a net margin of 12.59%. The firm had revenue of $988.50 million for the quarter, compared to analysts’ expectations of $964.12 million. During the same period in the prior year, the firm posted $1.41 earnings per share. The firm’s quarterly revenue was up 51.6% on a year-over-year basis. As a group, equities research analysts forecast that EPAM Systems, Inc. will post 7.35 earnings per share for the current fiscal year.

In related news, SVP Lawrence F. Solomon sold 6,759 shares of the stock in a transaction dated Thursday, December 9th. The stock was sold at an average price of $708.00, for a total transaction of $4,785,372.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Gary C. Abrahams sold 157 shares of EPAM Systems stock in a transaction dated Thursday, December 9th. The shares were sold at an average price of $702.92, for a total value of $110,358.44. The disclosure for this sale can be found here. Insiders sold 83,011 shares of company stock worth $56,859,180 over the last quarter. 4.80% of the stock is currently owned by insiders.

EPAM has been the topic of several recent research reports. VTB Capital upgraded EPAM Systems from a “hold” rating to a “buy” rating and set a $750.00 target price on the stock in a report on Tuesday, November 23rd. Zacks Investment Research cut EPAM Systems from a “buy” rating to a “hold” rating and set a $607.00 target price on the stock. in a report on Wednesday, October 6th. Finally, Piper Sandler boosted their target price on EPAM Systems from $689.00 to $824.00 and gave the stock an “overweight” rating in a report on Thursday, November 4th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $645.11.

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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