Russia Partners Management Lowers stake in EPAM Systems Inc (EPAM)

EPAM Systems Inc (EPAM) : Russia Partners Management reduced its stake in EPAM Systems Inc by 26.35% during the most recent quarter end. The investment management company now holds a total of 2,258,643 shares of EPAM Systems Inc which is valued at $154,491,181 after selling 808,223 shares in EPAM Systems Inc , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.EPAM Systems Inc makes up approximately 100.00% of Russia Partners Management’s portfolio.

Other Hedge Funds, Including , United Services Automobile Association boosted its stake in EPAM in the latest quarter, The investment management firm added 500 additional shares and now holds a total of 10,100 shares of EPAM Systems Inc which is valued at $690,840.Keybank National Associationoh reduced its stake in EPAM by selling 147 shares or 1.92% in the most recent quarter. The Hedge Fund company now holds 7,515 shares of EPAM which is valued at $514,026.State Board Of Administration Of Florida Retirement System boosted its stake in EPAM in the latest quarter, The investment management firm added 1,200 additional shares and now holds a total of 30,711 shares of EPAM Systems Inc which is valued at $2,046,581. EPAM Systems Inc makes up approx 0.01% of State Board Of Administration Of Florida Retirement System’s portfolio. Parametrica Management Ltd added EPAM to its portfolio by purchasing 11,147 company shares during the most recent quarter which is valued at $783,746. EPAM Systems Inc makes up approx 1.12% of Parametrica Management Ltd’s portfolio.

EPAM Systems Inc opened for trading at $65.87 and hit $68.25 on the upside on Tuesday, eventually ending the session at $67.74, with a gain of 2.71% or 1.79 points. The heightened volatility saw the trading volume jump to 4,13,609 shares. Company has a market cap of $3,447 M.

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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