Jane Street Group LLC Boosts Stake in EPAM Systems Inc (EPAM)

Jane Street Group LLC raised its stake in EPAM Systems Inc (NYSE:EPAM) by 27.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,886 shares of the information technology services provider’s stock after acquiring an additional 833 shares during the quarter. Jane Street Group LLC’s holdings in EPAM Systems were worth $445,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Amalgamated Bank lifted its holdings in shares of EPAM Systems by 8.2% in the fourth quarter. Amalgamated Bank now owns 6,779 shares of the information technology services provider’s stock worth $728,000 after acquiring an additional 515 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of EPAM Systems by 1.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 37,632 shares of the information technology services provider’s stock worth $4,043,000 after acquiring an additional 662 shares during the last quarter. Denver Investment Advisors LLC raised its holdings in EPAM Systems by 4.2% in the 1st quarter. Denver Investment Advisors LLC now owns 16,690 shares of the information technology services provider’s stock valued at $1,911,000 after buying an additional 675 shares during the last quarter. Raymond James & Associates raised its holdings in EPAM Systems by 20.8% in the 4th quarter. Raymond James & Associates now owns 4,332 shares of the information technology services provider’s stock valued at $465,000 after buying an additional 746 shares during the last quarter. Finally, Chicago Equity Partners LLC raised its holdings in EPAM Systems by 8.3% in the 1st quarter. Chicago Equity Partners LLC now owns 9,859 shares of the information technology services provider’s stock valued at $1,129,000 after buying an additional 759 shares during the last quarter. 90.45% of the stock is owned by hedge funds and other institutional investors.

EPAM has been the subject of a number of research reports. Zacks Investment Research upgraded shares of EPAM Systems from a “hold” rating to a “buy” rating and set a $132.00 price objective for the company in a report on Monday, April 23rd. ValuEngine upgraded shares of EPAM Systems from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $130.00 price objective (up previously from $118.00) on shares of EPAM Systems in a report on Friday, March 16th. Cantor Fitzgerald reiterated a “buy” rating and issued a $139.00 price objective on shares of EPAM Systems in a report on Wednesday, May 9th. Finally, SunTrust Banks initiated coverage on shares of EPAM Systems in a report on Thursday, April 19th. They issued a “buy” rating and a $130.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $125.25.

In other EPAM Systems news, CFO Jason D. Peterson sold 3,120 shares of the firm’s stock in a transaction that occurred on Friday, May 11th. The shares were sold at an average price of $129.78, for a total transaction of $404,913.60. Following the completion of the transaction, the chief financial officer now owns 10,627 shares in the company, valued at approximately $1,379,172.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Jason Harman sold 11,932 shares of the firm’s stock in a transaction that occurred on Friday, June 15th. The stock was sold at an average price of $123.81, for a total transaction of $1,477,300.92. Following the sale, the senior vice president now directly owns 14,578 shares of the company’s stock, valued at approximately $1,804,902.18. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,752 shares of company stock valued at $2,964,021. Company insiders own 5.30% of the company’s stock.

EPAM Systems stock opened at $128.26 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.39 and a quick ratio of 5.39. EPAM Systems Inc has a 52-week low of $77.96 and a 52-week high of $131.75. The company has a market cap of $6.54 billion, a price-to-earnings ratio of 45.00, a PEG ratio of 1.89 and a beta of 1.03.

EPAM Systems (NYSE:EPAM) last released its quarterly earnings results on Wednesday, May 9th. The information technology services provider reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.02. EPAM Systems had a net margin of 7.33% and a return on equity of 17.45%. The firm had revenue of $424.15 million during the quarter, compared to analyst estimates of $414.15 million. During the same quarter last year, the business earned $0.72 EPS. The company’s revenue was up 30.6% compared to the same quarter last year. analysts forecast that EPAM Systems Inc will post 3.26 earnings per share for the current year.

EPAM Systems Profile

EPAM Systems, Inc provides software product development and digital platform engineering services primarily in North America, Europe, Asia, and Australia. It offers software product development services, including product research, customer experience design, prototyping, program management, component design and integration, lifecycle software testing, product deployment, end-user customization, performance tuning, product support and maintenance, managed services, and porting and cross-platform migration.

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

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