Franklin Resources Inc. Purchases 328,900 Shares of EPAM Systems Inc (EPAM)

Franklin Resources Inc. increased its position in EPAM Systems Inc (NYSE:EPAM) by 877.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 366,400 shares of the information technology services provider’s stock after buying an additional 328,900 shares during the quarter. Franklin Resources Inc.’s holdings in EPAM Systems were worth $50,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the company. Keybank National Association OH increased its position in EPAM Systems by 7.9% during the 2nd quarter. Keybank National Association OH now owns 5,428 shares of the information technology services provider’s stock valued at $675,000 after purchasing an additional 398 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in EPAM Systems by 10.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,227 shares of the information technology services provider’s stock valued at $582,000 after purchasing an additional 400 shares during the period. United Services Automobile Association increased its position in EPAM Systems by 2.3% during the 2nd quarter. United Services Automobile Association now owns 19,490 shares of the information technology services provider’s stock valued at $2,423,000 after purchasing an additional 434 shares during the period. Azimuth Capital Management LLC increased its position in EPAM Systems by 0.6% during the 2nd quarter. Azimuth Capital Management LLC now owns 75,753 shares of the information technology services provider’s stock valued at $9,418,000 after purchasing an additional 448 shares during the period. Finally, First National Bank of Hutchinson increased its position in EPAM Systems by 6.6% during the 3rd quarter. First National Bank of Hutchinson now owns 7,305 shares of the information technology services provider’s stock valued at $1,006,000 after purchasing an additional 453 shares during the period. 92.56% of the stock is owned by institutional investors.

A number of research firms have weighed in on EPAM. Jefferies Financial Group began coverage on shares of EPAM Systems in a research report on Tuesday, November 20th. They set a “hold” rating and a $134.00 target price for the company. Zacks Investment Research raised shares of EPAM Systems from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a research report on Tuesday, November 13th. JPMorgan Chase & Co. increased their target price on shares of EPAM Systems from $152.00 to $157.00 and gave the company an “overweight” rating in a research report on Friday, November 2nd. Cantor Fitzgerald increased their target price on shares of EPAM Systems from $139.00 to $146.00 and gave the company an “overweight” rating in a research report on Friday, November 2nd. Finally, KeyCorp decreased their target price on shares of EPAM Systems from $146.00 to $144.00 and set an “overweight” rating for the company in a research report on Friday, November 2nd. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. EPAM Systems has a consensus rating of “Buy” and an average target price of $142.60.

EPAM Systems stock opened at $122.85 on Friday. The company has a market cap of $6.91 billion, a price-to-earnings ratio of 34.66, a price-to-earnings-growth ratio of 1.91 and a beta of 1.30. EPAM Systems Inc has a 52-week low of $100.75 and a 52-week high of $144.19. The company has a current ratio of 5.11, a quick ratio of 5.11 and a debt-to-equity ratio of 0.02.

EPAM Systems (NYSE:EPAM) last posted its quarterly earnings results on Thursday, November 1st. The information technology services provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.33. The firm had revenue of $468.20 million for the quarter, compared to analysts’ expectations of $466.97 million. EPAM Systems had a return on equity of 19.19% and a net margin of 8.60%. The company’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.92 EPS. As a group, sell-side analysts forecast that EPAM Systems Inc will post 3.43 EPS for the current year.

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EPAM Systems Company 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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