EPAM Systems, Inc. (NYSE:EPAM) is Sara Bay Financial’s 7th Largest Position

Sara Bay Financial raised its position in shares of EPAM Systems, Inc. (NYSE:EPAMGet Rating) by 3.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,070 shares of the information technology services provider’s stock after buying an additional 978 shares during the quarter. EPAM Systems comprises 3.3% of Sara Bay Financial’s portfolio, making the stock its 7th biggest holding. Sara Bay Financial’s holdings in EPAM Systems were worth $8,326,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. HM Payson & Co. bought a new stake in shares of EPAM Systems in the 4th quarter valued at approximately $35,000. UMB Bank N A MO bought a new stake in shares of EPAM Systems during the 4th quarter worth approximately $40,000. Covestor Ltd bought a new stake in shares of EPAM Systems during the 4th quarter worth approximately $43,000. Confluence Wealth Services Inc. bought a new stake in shares of EPAM Systems during the 4th quarter worth approximately $51,000. Finally, Pacifica Partners Inc. bought a new stake in shares of EPAM Systems during the 4th quarter worth approximately $56,000. Institutional investors and hedge funds own 95.24% of the company’s stock.

Several research firms have commented on EPAM. Bank of America upgraded EPAM Systems from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $312.00 to $400.00 in a report on Friday, May 6th. Barclays raised their price objective on EPAM Systems from $350.00 to $410.00 in a report on Monday, May 9th. Needham & Company LLC cut their price target on EPAM Systems from $650.00 to $285.00 and set a “buy” rating on the stock in a report on Friday, March 11th. Citigroup lifted their price target on EPAM Systems from $325.00 to $380.00 in a report on Wednesday, April 20th. Finally, Piper Sandler upgraded EPAM Systems from a “neutral” rating to an “overweight” rating and cut their price target for the company from $359.00 to $348.00 in a report on Monday, May 2nd. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $431.38.

Shares of EPAM stock opened at $299.32 on Wednesday. EPAM Systems, Inc. has a 1-year low of $168.59 and a 1-year high of $725.40. The stock’s fifty day moving average price is $306.65 and its 200 day moving average price is $394.81. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.32 and a quick ratio of 3.32. The company has a market cap of $17.11 billion, a price-to-earnings ratio of 38.45, a price-to-earnings-growth ratio of 2.36 and a beta of 1.76.

EPAM Systems (NYSE:EPAMGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The information technology services provider reported $2.39 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.82. EPAM Systems had a return on equity of 21.92% and a net margin of 11.14%. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the firm posted $1.63 EPS. The firm’s revenue was up 50.1% compared to the same quarter last year. As a group, equities research analysts anticipate that EPAM Systems, Inc. will post 7.3 earnings per share for the current year.

In other news, CFO Jason D. Peterson sold 400 shares of the business’s stock in a transaction dated Friday, May 20th. The stock was sold at an average price of $335.00, for a total value of $134,000.00. Following the completion of the transaction, the chief financial officer now owns 11,762 shares of the company’s stock, valued at approximately $3,940,270. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CMO Elaina Shekhter sold 100 shares of the business’s stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $347.10, for a total value of $34,710.00. Following the completion of the transaction, the chief marketing officer now directly owns 7,671 shares of the company’s stock, valued at approximately $2,662,604.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,500 shares of company stock valued at $493,710. 4.10% of the stock is currently owned by insiders.

EPAM Systems Profile (Get Rating)

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

Further Reading

Want to see what other hedge funds are holding EPAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for EPAM Systems, Inc. (NYSE:EPAMGet Rating).

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

Receive News & Ratings for EPAM Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EPAM Systems and related companies with MarketBeat.com's FREE daily email newsletter.