In the first quarter of this year, Logan Capital Management Inc. made a significant reduction in its holdings of EPAM Systems, Inc. shares (NYSE:EPAM), as reported by the company in its latest disclosure with the Securities and Exchange Commission (SEC). During this period, the institutional investor sold 26,537 shares, resulting in a decrease of 67.0% in their ownership. With this transaction, Logan Capital Management Inc.’s holdings in EPAM Systems were reduced to 13,093 shares, which were valued at $3,915,000 at the time of filing.
EPAM Systems is an information technology services provider and its stock opened at $265.35 on the New York Stock Exchange (NYSE) on Friday. The company has a market capitalization of $15.38 billion and operates with a price-to-earnings (PE) ratio of 29.48. With a P/E/G ratio of 6.94 and a beta value of 1.47, EPAM Systems’ stock performance can be considered moderately volatile.
Analyzing its recent moving averages, the business has shown a 50-day simple moving average of $242.39 and a two-hundred day simple moving average of $256.68. These figures indicate fluctuations and potential trends within the market.
Moreover, EPAM Systems holds a debt-to-equity ratio of 0.01, demonstrating strong financial stability with minimal reliance on borrowed funds to support its operations. The current and quick ratios are both reported as 4.92, indicating healthy liquidity levels for the company.
Over the past year, EPAM Systems’ stock has seen significant fluctuations in value. It experienced a low point at $197.99 and reached a high of $439.34 during this period.
Investors should carefully monitor EPAM Systems’ performance due to its recent shifts in share ownership by Logan Capital Management Inc., such changes can provide insights into the institutional sentiment towards the company. Additionally, it is recommended to consider factors such as market trends, industry competition, and the broader economic environment before making any investment decisions.
Please note that the information and figures provided in this article are based on the latest available data up to September 10, 2023. It is crucial for investors to conduct further research and consult with financial professionals before making any investment choices regarding EPAM Systems, Inc.
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Analyzing the Recent Holdings Adjustments and Investor Sentiment Surrounding EPAM Systems
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”CAH” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]In the ever-evolving landscape of finance, it comes as no surprise that hedge funds and institutional investors are continuously seeking opportunities to modify their holdings. One recent example is the case of EPAM Systems (NYSE:EPAM), an information technology services provider. Several notable investors have made adjustments to their positions in the company, leaving analysts perplexed about the motivations behind these moves.
Alliancebernstein L.P., a prominent hedge fund, saw fit to increase its holdings in EPAM Systems by 24.2% during the fourth quarter. Currently, they own an impressive 3,489,287 shares valued at $1,143,579,000. This significant increase in holdings implies that Alliancebernstein L.P. sees long-term value and potential growth in the company.
Envestnet Asset Management Inc., another institutional investor, also decided to lift its stake in EPAM Systems by a staggering 592.8% during the first quarter. They now possess 769,432 shares valued at $30,520,000. Such a substantial increase indicates a high degree of confidence in EPAM’s ability to deliver results.
Similarly, Norges Bank took notice of EPAM Systems’ potential and acquired a new position in the company during the fourth quarter worth around $181,396,000. As Norway’s central bank and one of the largest sovereign wealth funds globally, Norges Bank’s decision carries weight in the financial community.
Bank of America Corp DE followed suit with an impressive uptick in its holdings by 106.2% during the same period. They now own 673,046 shares valued at $220,584,000. The increased investment from such a prominent financial institution further consolidates EPAM Systems’ reputation as an attractive investment opportunity.
Perpetual Ltd made waves as well when they procured a new position worth approximately $78,810,000 throughout the first quarter of this year. The move showcases the growing interest and demand for EPAM Systems’ stock among a diverse group of investors.
It is also worth noting that 90.88% of EPAM Systems’ stock is owned by institutional investors, further highlighting the company’s appeal within the financial industry.
Continuing on a different note, Director Eugene Roman sold 1,552 shares of EPAM Systems on August 8th at an average price of $237.44 per share. The total value of this transaction amounted to $368,506.88. Following the sale, Roman now owns 982 shares valued at approximately $233,166.08. This disclosure was made in a filing with the Securities & Exchange Commission and can be accessed through their website.
Moving away from ownership changes and insider transactions, let us delve into EPAM Systems’ recent quarterly earnings report released on August 3rd. In summary, they reported earnings per share of $2.21 for the quarter, surpassing analysts’ consensus estimate of $1.88 by $0.33. Their revenue also performed admirably at $1.17 billion compared to expectations of $1.16 billion.
EPAM Systems boasted a return on equity of 18.60% and a net margin of 11.02%, indicating their ability to generate profit efficiently in a competitive market.
In terms of future projections, research analysts anticipate that EPAM Systems will post earnings per share (EPS) of 8.07 for the current fiscal year.
Amidst these developments, various research reports have shed light on EPAM Systems as an investment option. Stifel Nicolaus lowered their target price to $240 from an initial projection of $320 in early June while Barclays upped their target price to $265 from $250 and rated the stock as “equal weight” in early August.
Needham & Company LLC gave EPAM Systems a “buy” rating and increased their target price from $275 to $295 in line with their positive outlook. Conversely, Citigroup rated the stock as “neutral” and updated their target price from $240 to $270.
Finally, StockNews.com initiated coverage on EPAM Systems in late August with a “hold” rating for the company.
Currently, based on data from Bloomberg.com, the consensus among analysts is to hold EPAM Systems’ stock. The consensus target price stands at $308.79.
In conclusion, the recent modifications in holdings by hedge funds and institutional investors in EPAM Systems have captivated market observers. The company’s strong earnings report and favorable future projections have contributed to these investment decisions. However, it remains to be seen how these changes will influence the stock’s performance moving forward.
