Jennison Associates LLC Trims Stock Position in EPAM Systems, Inc. (NYSE:EPAM)

Jennison Associates LLC reduced its stake in shares of EPAM Systems, Inc. (NYSE:EPAM) by 48.8% during the third quarter, Holdings Channel reports. The firm owned 1,625 shares of the information technology services provider’s stock after selling 1,549 shares during the quarter. Jennison Associates LLC’s holdings in EPAM Systems were worth $927,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of EPAM. Koshinski Asset Management Inc. bought a new stake in shares of EPAM Systems during the 3rd quarter valued at $29,000. Maverick Capital Ltd. bought a new position in EPAM Systems in the 2nd quarter worth about $29,000. Allworth Financial LP boosted its stake in EPAM Systems by 38.5% in the 3rd quarter. Allworth Financial LP now owns 72 shares of the information technology services provider’s stock worth $41,000 after purchasing an additional 20 shares in the last quarter. JJJ Advisors Inc. boosted its stake in EPAM Systems by 27.4% in the 3rd quarter. JJJ Advisors Inc. now owns 149 shares of the information technology services provider’s stock worth $85,000 after purchasing an additional 32 shares in the last quarter. Finally, Penserra Capital Management LLC boosted its stake in EPAM Systems by 35.9% in the 2nd quarter. Penserra Capital Management LLC now owns 178 shares of the information technology services provider’s stock worth $90,000 after purchasing an additional 47 shares in the last quarter. 89.98% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages recently issued reports on EPAM. Piper Sandler upped their price target on shares of EPAM Systems from $689.00 to $824.00 and gave the stock an “overweight” rating in a research note on Thursday, November 4th. Zacks Investment Research cut shares of EPAM Systems from a “buy” rating to a “hold” rating and set a $607.00 target price on the stock. in a research note on Wednesday, October 6th. Finally, VTB Capital upgraded shares of EPAM Systems from a “hold” rating to a “buy” rating and set a $750.00 target price on the stock in a research note on Tuesday, November 23rd. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, EPAM Systems currently has an average rating of “Buy” and an average price target of $645.11.

In related news, SVP Boris Shnayder sold 1,250 shares of the firm’s stock in a transaction on Wednesday, December 15th. The stock was sold at an average price of $637.50, for a total value of $796,875.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Gary C. Abrahams sold 157 shares of the firm’s stock in a transaction on Thursday, December 9th. The stock was sold at an average price of $702.92, for a total value of $110,358.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 83,011 shares of company stock valued at $56,859,180. Insiders own 4.80% of the company’s stock.

EPAM Systems stock opened at $543.06 on Friday. The firm has a 50 day moving average of $636.62 and a 200 day moving average of $611.60. The firm has a market capitalization of $30.80 billion, a price-to-earnings ratio of 75.32, a P/E/G ratio of 1.99 and a beta of 1.44. EPAM Systems, Inc. has a 12-month low of $333.68 and a 12-month high of $725.40. The company has a current ratio of 3.31, a quick ratio of 3.31 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAM) last announced its quarterly earnings data on Thursday, November 4th. The information technology services provider reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.20. EPAM Systems had a net margin of 12.59% and a return on equity of 19.79%. The business had revenue of $988.50 million during the quarter, compared to analyst estimates of $964.12 million. During the same period last year, the firm posted $1.41 EPS. The company’s revenue was up 51.6% on a year-over-year basis. On average, analysts predict that EPAM Systems, Inc. will post 7.35 EPS for the current year.

EPAM Systems Company Profile

EPAM Systems, Inc engages in the provision of software product development and digital platform engineering services. It operates through the following geographical segments: North America, Europe, and Russia. The company was founded by Leonid Lozner and Arkadiy Dobkin in 1993 and is headquartered in Newtown, PA.

Read More: Dividend Reinvestment Plan (DRIP)

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

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