Bokf Na Trims Stake in EPAM Systems, Inc. (NYSE:EPAM)

Bokf Na lowered its holdings in EPAM Systems, Inc. (NYSE:EPAM) by 20.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,039 shares of the information technology services provider’s stock after selling 1,538 shares during the quarter. Bokf Na’s holdings in EPAM Systems were worth $1,136,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EPAM. Capital Research Global Investors raised its holdings in shares of EPAM Systems by 0.7% in the 4th quarter. Capital Research Global Investors now owns 7,698,930 shares of the information technology services provider’s stock valued at $2,289,207,000 after buying an additional 51,228 shares during the period. Vanguard Group Inc. raised its holdings in shares of EPAM Systems by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 6,865,123 shares of the information technology services provider’s stock valued at $1,895,872,000 after buying an additional 39,531 shares during the period. Norges Bank purchased a new stake in shares of EPAM Systems in the 4th quarter valued at $184,713,000. TD Asset Management Inc raised its holdings in shares of EPAM Systems by 80.0% in the 2nd quarter. TD Asset Management Inc now owns 595,486 shares of the information technology services provider’s stock valued at $112,017,000 after buying an additional 264,570 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of EPAM Systems by 22.6% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 512,353 shares of the information technology services provider’s stock valued at $139,516,000 after buying an additional 94,544 shares during the period. Hedge funds and other institutional investors own 91.58% of the company’s stock.

EPAM Systems Stock Down 0.2 %

EPAM Systems stock opened at $201.88 on Monday. EPAM Systems, Inc. has a fifty-two week low of $169.43 and a fifty-two week high of $317.50. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.84 and a current ratio of 4.84. The company has a market capitalization of $11.50 billion, a P/E ratio of 27.62, a PEG ratio of 4.48 and a beta of 1.45. The stock has a 50-day simple moving average of $201.88 and a 200-day simple moving average of $220.28.

EPAM Systems (NYSE:EPAM) last posted its earnings results on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $1.14 billion. During the same period in the previous year, the business earned $2.21 EPS. The business’s quarterly revenue was down 2.0% on a year-over-year basis. Equities research analysts expect that EPAM Systems, Inc. will post 8.06 earnings per share for the current year.

EPAM Systems announced that its board has approved a stock buyback plan on Thursday, August 8th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the information technology services provider to purchase up to 4.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Jefferies Financial Group boosted their price objective on EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 9th. Itau BBA Securities raised EPAM Systems from an “underperform” rating to a “market perform” rating in a research note on Friday, August 9th. Redburn Atlantic began coverage on EPAM Systems in a research note on Friday, May 24th. They set a “neutral” rating and a $195.00 target price for the company. 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 note on Friday, September 6th. Finally, The Goldman Sachs Group began coverage on EPAM Systems in a research note on Monday, June 24th. They set a “neutral” rating and a $200.00 target price for the company. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $258.32.

About EPAM Systems

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.