Shell Asset Management Co. Lowers Stake in EPAM Systems, Inc. (NYSE:EPAM)

Shell Asset Management Co. trimmed its holdings in EPAM Systems, Inc. (NYSE:EPAM) by 34.2% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,877 shares of the information technology services provider’s stock after selling 976 shares during the period. Shell Asset Management Co.’s holdings in EPAM Systems were worth $518,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in EPAM. Benjamin F. Edwards & Company Inc. purchased a new stake in EPAM Systems during the 4th quarter valued at approximately $25,000. Riverview Trust Co purchased a new stake in shares of EPAM Systems during the first quarter worth approximately $29,000. Principal Securities Inc. acquired a new stake in shares of EPAM Systems during the fourth quarter worth $43,000. Westpac Banking Corp lifted its holdings in shares of EPAM Systems by 151.4% during the fourth quarter. Westpac Banking Corp now owns 176 shares of the information technology services provider’s stock worth $52,000 after purchasing an additional 106 shares during the period. Finally, Whittier Trust Co. purchased a new position in EPAM Systems in the 1st quarter valued at $64,000. Institutional investors and hedge funds own 91.58% of the company’s stock.

EPAM Systems Trading Up 1.0 %

EPAM Systems stock traded up $2.04 during trading on Friday, reaching $209.18. The company had a trading volume of 65,237 shares, compared to its average volume of 635,718. EPAM Systems, Inc. has a 12-month low of $169.43 and a 12-month high of $317.50. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.68 and a current ratio of 4.68. The stock’s 50 day moving average price is $186.45 and its two-hundred day moving average price is $244.52. The firm has a market capitalization of $12.13 billion, a price-to-earnings ratio of 28.34, a PEG ratio of 4.74 and a beta of 1.45.

EPAM Systems (NYSE:EPAM) last released its quarterly earnings data on Thursday, May 9th. The information technology services provider reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.09. EPAM Systems had a return on equity of 14.95% and a net margin of 9.28%. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. As a group, equities analysts expect that EPAM Systems, Inc. will post 7.81 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on EPAM. Barclays raised their target price on shares of EPAM Systems from $200.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Jefferies Financial Group raised EPAM Systems from a “hold” rating to a “buy” rating and lifted their price objective for the company from $202.00 to $237.00 in a report on Tuesday, July 16th. JPMorgan Chase & Co. cut their target price on EPAM Systems from $331.00 to $311.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. TD Cowen dropped their price objective on EPAM Systems from $282.00 to $203.00 and set a “hold” rating on the stock in a report on Friday, May 10th. Finally, Redburn Atlantic began coverage on shares of EPAM Systems in a research report on Friday, May 24th. They set a “neutral” rating and a $195.00 target price on the stock. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $270.28.

About EPAM Systems

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, performance tuning, deployment, maintenance, and support services.