Aberdeen Asset Management Plcuk Lowers stake in EPAM Systems Inc (EPAM)

EPAM Systems Inc (EPAM) : Aberdeen Asset Management Plcuk reduced its stake in EPAM Systems Inc by 0.23% during the most recent quarter end. The investment management company now holds a total of 1,492,735 shares of EPAM Systems Inc which is valued at $104,745,215 after selling 3,400 shares in EPAM Systems Inc , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.EPAM Systems Inc makes up approximately 0.38% of Aberdeen Asset Management Plcuk’s portfolio.

Other Hedge Funds, Including , Emerald Advisers Incpa reduced its stake in EPAM by selling 1,288 shares or 0.22% in the most recent quarter. The Hedge Fund company now holds 579,561 shares of EPAM which is valued at $40,708,365. EPAM Systems Inc makes up approx 1.85% of Emerald Advisers Incpa’s portfolio.Huntington National Bank reduced its stake in EPAM by selling 602 shares or 76.79% in the most recent quarter. The Hedge Fund company now holds 182 shares of EPAM which is valued at $12,725.Burt Wealth Advisors reduced its stake in EPAM by selling 6 shares or 1.96% in the most recent quarter. The Hedge Fund company now holds 300 shares of EPAM which is valued at $21,093. EPAM Systems Inc makes up approx 0.02% of Burt Wealth Advisors’s portfolio. Vigilant Capital Management added EPAM to its portfolio by purchasing 101 company shares during the most recent quarter which is valued at $7,057.

EPAM Systems Inc closed down -3.58 points or -5.10% at $66.59 with 16,35,008 shares getting traded on Thursday. Post opening the session at $64, the shares hit an intraday low of $62.82 and an intraday high of $67.06 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, EPAM Systems Inc reported $0.71 EPS for the quarter, based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus estimate of $0.71. The company had revenue of $283.80 million for the quarter, compared to analysts expectations of $281.34 million. The company’s revenue was up 30.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 EPS.

Many Wall Street Analysts have commented on EPAM Systems Inc. Pacific Crest Initiated EPAM Systems Inc on Jul 12, 2016 to “Overweight”, Price Target of the shares are set at $77.Shares were Reiterated by Barclays on Jul 7, 2016 to “Equal Weight” and Lowered the Price Target to $ 75 from a previous price target of $85 .

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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