Sara Bay Financial Has $1.83 Million Position in EPAM Systems, Inc. (NYSE:EPAM)

Sara Bay Financial lessened its holdings in EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 35.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,186 shares of the information technology services provider's stock after selling 5,097 shares during the period. EPAM Systems makes up 0.8% of Sara Bay Financial's portfolio, making the stock its 17th biggest position. Sara Bay Financial's holdings in EPAM Systems were worth $1,828,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Everpar Advisors LLC acquired a new stake in shares of EPAM Systems during the third quarter worth approximately $269,000. GAMMA Investing LLC grew its position in EPAM Systems by 147.7% during the 3rd quarter. GAMMA Investing LLC now owns 753 shares of the information technology services provider's stock worth $150,000 after acquiring an additional 449 shares during the last quarter. Czech National Bank increased its holdings in EPAM Systems by 5.0% during the 3rd quarter. Czech National Bank now owns 11,598 shares of the information technology services provider's stock valued at $2,308,000 after purchasing an additional 551 shares in the last quarter. American Trust raised its position in EPAM Systems by 10.6% in the 2nd quarter. American Trust now owns 1,487 shares of the information technology services provider's stock valued at $280,000 after purchasing an additional 143 shares during the last quarter. Finally, Aurora Investment Counsel boosted its stake in EPAM Systems by 44.4% in the second quarter. Aurora Investment Counsel now owns 5,865 shares of the information technology services provider's stock worth $1,103,000 after purchasing an additional 1,802 shares in the last quarter. 91.58% of the stock is owned by institutional investors and hedge funds.

EPAM Systems Trading Down 2.7 %

NYSE:EPAM traded down $5.36 on Monday, reaching $192.99. The company's stock had a trading volume of 370,343 shares, compared to its average volume of 624,748. EPAM Systems, Inc. has a 1-year low of $169.43 and a 1-year high of $317.50. The business's 50-day moving average price is $200.69 and its two-hundred day moving average price is $208.52. The firm has a market cap of $11.19 billion, a PE ratio of 26.40, a PEG ratio of 4.36 and a beta of 1.45. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.84 and a current ratio of 4.84.

EPAM Systems (NYSE:EPAM - Get Free Report) last posted its earnings results on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.26 by $0.19. EPAM Systems had a return on equity of 14.31% and a net margin of 8.86%. The business had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.14 billion. During the same period in the prior year, the business earned $2.21 EPS. EPAM Systems's revenue for the quarter was down 2.0% compared to the same quarter last year. Equities research analysts anticipate that EPAM Systems, Inc. will post 8.07 earnings per share for the current fiscal year.

EPAM Systems announced that its Board of Directors has initiated a share repurchase program on Thursday, August 8th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the information technology services provider to purchase up to 4.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

EPAM has been the topic of several research reports. Piper Sandler reiterated an "overweight" rating and set a $225.00 price target on shares of EPAM Systems in a research report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of EPAM Systems in a research note on Thursday, August 22nd. They set a "hold" rating and a $204.00 price target on the stock. Barclays boosted their price objective on shares of EPAM Systems from $200.00 to $225.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 23rd. Susquehanna decreased their price objective on EPAM Systems from $260.00 to $240.00 and set a "positive" rating on the stock in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. boosted their target price on EPAM Systems from $222.00 to $262.00 and gave the stock an "overweight" rating in a research report on Friday, September 6th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $258.32.

EPAM Systems Profile

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.

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:EPAM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.