Mesirow Financial Investment Management Equity Management Takes Position in EPAM Systems, Inc. (NYSE:EPAM)

Mesirow Financial Investment Management Equity Management acquired a new stake in EPAM Systems, Inc. (NYSE:EPAM) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 220,935 shares of the information technology services provider’s stock, valued at approximately $18,578,000. Mesirow Financial Investment Management Equity Management owned 0.43% of EPAM Systems at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. raised its stake in EPAM Systems by 76,013.5% in the first quarter. BlackRock Inc. now owns 2,995,067 shares of the information technology services provider’s stock valued at $226,186,000 after buying an additional 2,991,132 shares during the period. Massachusetts Financial Services Co. MA raised its stake in EPAM Systems by 70.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,058,688 shares of the information technology services provider’s stock valued at $155,472,000 after buying an additional 850,759 shares during the period. Morgan Stanley raised its stake in EPAM Systems by 21.0% in the first quarter. Morgan Stanley now owns 3,461,697 shares of the information technology services provider’s stock valued at $261,428,000 after buying an additional 600,775 shares during the period. FMR LLC raised its stake in EPAM Systems by 19.4% in the first quarter. FMR LLC now owns 3,675,177 shares of the information technology services provider’s stock valued at $277,549,000 after buying an additional 598,179 shares during the period. Finally, Baird Financial Group Inc. purchased a new stake in shares of EPAM Systems during the first quarter worth approximately $23,730,000. Hedge funds and other institutional investors own 95.28% of the company’s stock.

EPAM Systems, Inc. (NYSE:EPAM) traded up 1.00% on Friday, reaching $80.75. The company’s stock had a trading volume of 267,467 shares. The stock has a market cap of $4.24 billion, a PE ratio of 38.99 and a beta of 0.99. EPAM Systems, Inc. has a 12-month low of $54.53 and a 12-month high of $87.93. The company’s 50 day moving average price is $83.78 and its 200-day moving average price is $78.39.

EPAM Systems (NYSE:EPAM) last announced its quarterly earnings results on Thursday, August 3rd. The information technology services provider reported $0.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.18. The business had revenue of $348.98 million during the quarter, compared to the consensus estimate of $342 million. EPAM Systems had a net margin of 8.71% and a return on equity of 15.12%. The business’s revenue was up 23.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.71 EPS. On average, equities analysts expect that EPAM Systems, Inc. will post $3.32 EPS for the current year.

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A number of brokerages have recently commented on EPAM. Barclays PLC lifted their price target on EPAM Systems from $80.00 to $84.00 and gave the company an “overweight” rating in a research note on Monday, May 15th. Zacks Investment Research upgraded EPAM Systems from a “sell” rating to a “buy” rating and set a $90.00 price objective for the company in a research report on Friday, May 5th. Monness Crespi & Hardt raised their price objective on EPAM Systems from $82.00 to $91.00 and gave the stock a “buy” rating in a research report on Wednesday, May 10th. Credit Suisse Group began coverage on EPAM Systems in a research report on Tuesday, July 4th. They set an “outperform” rating and a $90.00 price objective for the company. Finally, Jefferies Group LLC set a $95.00 target price on EPAM Systems and gave the stock a “buy” rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. EPAM Systems presently has an average rating of “Buy” and an average target price of $90.60.

In related news, CEO Arkadiy Dobkin sold 25,100 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $80.49, for a total transaction of $2,020,299.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Ginger Mosier sold 26,055 shares of the stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $85.65, for a total transaction of $2,231,610.75. Following the transaction, the senior vice president now directly owns 12,733 shares of the company’s stock, valued at approximately $1,090,581.45. The disclosure for this sale can be found here. Insiders have sold a total of 85,389 shares of company stock valued at $7,153,584 in the last 90 days. Insiders own 6.17% of the company’s stock.

About EPAM Systems

EPAM Systems, Inc is a g provider of software product development and digital platform engineering services to clients located primarily in North America, Europe, Asia and Australia. The Company’s service offerings cover the full software product development lifecycle from digital strategy and customer experience design to enterprise application platforms implementation and program management services and from complex software development services to maintenance, support, custom application development, application testing, and infrastructure management.

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

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