Inspire Investing LLC Sells 1,813 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Inspire Investing LLC reduced its position in EPAM Systems, Inc. (NYSE:EPAM) by 14.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,809 shares of the information technology services provider’s stock after selling 1,813 shares during the quarter. Inspire Investing LLC’s holdings in EPAM Systems were worth $2,033,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Hsbc Holdings PLC boosted its stake in shares of EPAM Systems by 28.4% in the 2nd quarter. Hsbc Holdings PLC now owns 279,031 shares of the information technology services provider’s stock valued at $52,280,000 after purchasing an additional 61,787 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of EPAM Systems by 8.5% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 3,961 shares of the information technology services provider’s stock valued at $737,000 after acquiring an additional 309 shares during the period. Amalgamated Bank lifted its position in shares of EPAM Systems by 37.4% during the 2nd quarter. Amalgamated Bank now owns 17,056 shares of the information technology services provider’s stock valued at $3,208,000 after acquiring an additional 4,647 shares during the period. Edgestream Partners L.P. lifted its position in shares of EPAM Systems by 167.1% during the 2nd quarter. Edgestream Partners L.P. now owns 7,052 shares of the information technology services provider’s stock valued at $1,327,000 after acquiring an additional 4,412 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of EPAM Systems by 33.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 342,734 shares of the information technology services provider’s stock valued at $64,466,000 after acquiring an additional 85,883 shares during the period. 91.58% of the stock is owned by institutional investors.

EPAM Systems Stock Performance

NYSE:EPAM opened at $197.94 on Thursday. The stock has a market cap of $11.48 billion, a P/E ratio of 27.08, a price-to-earnings-growth ratio of 4.48 and a beta of 1.45. The firm’s fifty day simple moving average is $202.95 and its 200 day simple moving average is $218.69. EPAM Systems, Inc. has a twelve month low of $169.43 and a twelve month high of $317.50. The company has a quick ratio of 4.84, a current ratio of 4.84 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAM) last announced its quarterly earnings data on Thursday, August 8th. The information technology services provider reported $2.45 EPS for the quarter, beating the consensus estimate of $2.26 by $0.19. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. EPAM Systems had a return on equity of 14.31% and a net margin of 8.86%. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.21 earnings per share. As a group, research analysts predict that EPAM Systems, Inc. will post 8.06 EPS for the current year.

EPAM Systems declared that its Board of Directors has authorized a share buyback program on Thursday, August 8th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the information technology services provider to reacquire up to 4.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on EPAM shares. Redburn Atlantic started coverage on shares of EPAM Systems in a report on Friday, May 24th. They set a “neutral” rating and a $195.00 price objective on the stock. JPMorgan Chase & Co. increased their price target on shares of EPAM Systems from $222.00 to $262.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Deutsche Bank Aktiengesellschaft started coverage on shares of EPAM Systems in a research report on Thursday, August 22nd. They set a “hold” rating and a $204.00 price target for the company. StockNews.com raised shares of EPAM Systems from a “hold” rating to a “buy” rating in a report on Monday. Finally, Barclays lifted their price target on shares of EPAM Systems from $200.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.