Maryland Capital Management cut its stake in shares of EPAM Systems Inc (NYSE:EPAM) by 1.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 135,812 shares of the information technology services provider’s stock after selling 2,695 shares during the period. EPAM Systems comprises about 2.8% of Maryland Capital Management’s investment portfolio, making the stock its 9th biggest position. Maryland Capital Management owned approximately 0.25% of EPAM Systems worth $22,970,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Citigroup Inc. increased its holdings in shares of EPAM Systems by 346.7% in the first quarter. Citigroup Inc. now owns 13,204 shares of the information technology services provider’s stock worth $2,234,000 after purchasing an additional 10,248 shares during the last quarter. OppenheimerFunds Inc. increased its holdings in shares of EPAM Systems by 11.7% in the first quarter. OppenheimerFunds Inc. now owns 1,581,263 shares of the information technology services provider’s stock worth $267,438,000 after purchasing an additional 165,855 shares during the last quarter. Sheets Smith Wealth Management increased its holdings in shares of EPAM Systems by 2.4% in the first quarter. Sheets Smith Wealth Management now owns 4,349 shares of the information technology services provider’s stock worth $736,000 after purchasing an additional 101 shares during the last quarter. WCM Investment Management LLC increased its holdings in shares of EPAM Systems by 1.4% in the first quarter. WCM Investment Management LLC now owns 19,670 shares of the information technology services provider’s stock worth $3,327,000 after purchasing an additional 265 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of EPAM Systems in the first quarter worth about $597,000. Institutional investors own 90.80% of the company’s stock.
NYSE EPAM traded up $0.17 during trading hours on Friday, hitting $173.10. 352,640 shares of the company were exchanged, compared to its average volume of 390,042. The stock has a 50-day moving average price of $171.60. The company has a current ratio of 4.41, a quick ratio of 4.41 and a debt-to-equity ratio of 0.11. EPAM Systems Inc has a 52 week low of $104.77 and a 52 week high of $180.55. The stock has a market capitalization of $9.34 billion, a PE ratio of 44.27, a PEG ratio of 2.06 and a beta of 1.51.
Several equities research analysts have recently issued reports on EPAM shares. Zacks Investment Research raised EPAM Systems from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a report on Wednesday, May 15th. Wedbush reaffirmed an “outperform” rating and issued a $180.00 target price (up from $158.00) on shares of EPAM Systems in a report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $160.00.
In related news, CEO Arkadiy Dobkin sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $166.13, for a total value of $2,491,950.00. Following the completion of the sale, the chief executive officer now owns 1,713,490 shares in the company, valued at $284,662,093.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Elaina Shekhter sold 7,801 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $171.23, for a total value of $1,335,765.23. Following the completion of the sale, the chief marketing officer now owns 7,659 shares of the company’s stock, valued at approximately $1,311,450.57. The disclosure for this sale can be found here. Insiders have sold 362,189 shares of company stock valued at $63,001,372 in the last 90 days. Company insiders own 5.30% of the company’s stock.
EPAM Systems Company Profile
EPAM Systems, Inc provides software product development and digital platform engineering services primarily in North America, Europe, Armenia, Belarus, Kazakhstan, Russia, Ukraine, Asia, and Australia. 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.
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