Oak Ridge Investments Lowers stake in EPAM Systems Inc (EPAM)

EPAM Systems Inc (EPAM) : Oak Ridge Investments reduced its stake in EPAM Systems Inc by 1.27% during the most recent quarter end. The investment management company now holds a total of 1,763,065 shares of EPAM Systems Inc which is valued at $126,094,409 after selling 22,732 shares in EPAM Systems Inc , the firm said in a disclosure report filed with the SEC on May 9, 2016.EPAM Systems Inc makes up approximately 3.34% of Oak Ridge Investments’s portfolio.

Other Hedge Funds, Including , Ghp Investment Advisors boosted its stake in EPAM in the latest quarter, The investment management firm added 630 additional shares and now holds a total of 38,559 shares of EPAM Systems Inc which is valued at $2,757,740. EPAM Systems Inc makes up approx 0.57% of Ghp Investment Advisors’s portfolio.Proshare Advisors reduced its stake in EPAM by selling 1,405 shares or 16.84% in the most recent quarter. The Hedge Fund company now holds 6,938 shares of EPAM which is valued at $493,916. EPAM Systems Inc makes up approx 0.01% of Proshare Advisors’s portfolio.Emerald Advisers Incpa reduced its stake in EPAM by selling 26,177 shares or 4.31% in the most recent quarter. The Hedge Fund company now holds 580,849 shares of EPAM which is valued at $42,361,318. EPAM Systems Inc makes up approx 2.06% of Emerald Advisers Incpa’s portfolio.Friedberg Investment Management boosted its stake in EPAM in the latest quarter, The investment management firm added 3,000 additional shares and now holds a total of 21,060 shares of EPAM Systems Inc which is valued at $1,535,906. EPAM Systems Inc makes up approx 0.75% of Friedberg Investment Management’s portfolio.Burt Wealth Advisors boosted its stake in EPAM in the latest quarter, The investment management firm added 6 additional shares and now holds a total of 306 shares of EPAM Systems Inc which is valued at $22,317. EPAM Systems Inc makes up approx 0.02% of Burt Wealth Advisors’s portfolio.

EPAM Systems Inc opened for trading at $71.19 and hit $73.15 on the upside on Friday, eventually ending the session at $71.52, with a gain of 0.69% or 0.49 points. The heightened volatility saw the trading volume jump to 5,39,079 shares. Company has a market cap of $3,624 M.

On the company’s financial health, EPAM Systems Inc reported $0.72 EPS for the quarter, based on the information available during the earnings call on May 5, 2016. Analyst had a consensus estimate of $0.72. The company had revenue of $264.50 million for the quarter, compared to analysts expectations of $258.67 million. The company’s revenue was up 32.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.61 EPS.

Many Wall Street Analysts have commented on EPAM Systems Inc. EPAM Systems Inc was Initiated by Berenberg to “Buy” on Apr 15, 2016. EPAM Systems Inc was Initiated by Cantor Fitzgerald to “Buy” on Apr 13, 2016. Shares were Reiterated by Barclays on Feb 10, 2016 to “Equal Weight” and Lowered the Price Target to $ 74 from a previous price target of $77 .

EPAM Systems Inc. (EPAM) is a provider of software engineering solutions and information technology (IT) services. The Company’s service offerings include Software Product Development Services Custom Application Development Services Application Testing Services Enterprise Application Platforms Application Maintenance and Support and Infrastructure Management Services. EPAM provides Software Product Development Services to independent software vendors (ISVs) and technology companies. The Company offers Custom Application Development Services to businesses with application development needs. EPAM offers Application Testing Services for technology platforms and industries. The Company’s Enterprise Application Platforms develops technology and business application platforms and components. EPAM offers Application Maintenance and Support services through a team of IT professionals. The Company’s Infrastructure Management Services covers the lifecycle of infrastructure management.

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