Pacific Alternative Asset Management Company Lowers stake in EPAM Systems Inc (EPAM)

EPAM Systems Inc (EPAM) : Pacific Alternative Asset Management Company reduced its stake in EPAM Systems Inc by 56.87% during the most recent quarter end. The investment management company now holds a total of 20,997 shares of EPAM Systems Inc which is valued at $1,436,195 after selling 27,683 shares in EPAM Systems Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.EPAM Systems Inc makes up approximately 0.86% of Pacific Alternative Asset Management Company’s portfolio.

Other Hedge Funds, Including , D.a. Davidson boosted its stake in EPAM in the latest quarter, The investment management firm added 469 additional shares and now holds a total of 4,055 shares of EPAM Systems Inc which is valued at $277,362. EPAM Systems Inc makes up approx 0.01% of D.a. Davidson’s portfolio.Rpg Investment Advisory boosted its stake in EPAM in the latest quarter, The investment management firm added 2,153 additional shares and now holds a total of 8,203 shares of EPAM Systems Inc which is valued at $550,011. EPAM Systems Inc makes up approx 0.14% of Rpg Investment Advisory’s portfolio. Princeton Alpha Management Lp added EPAM to its portfolio by purchasing 6,297 company shares during the most recent quarter which is valued at $419,632. EPAM Systems Inc makes up approx 0.07% of Princeton Alpha Management Lp’s portfolio. Fny Managed Accounts sold out all of its stake in EPAM during the most recent quarter. The investment firm sold 400 shares of EPAM which is valued $27,968.

EPAM Systems Inc opened for trading at $68.2 and hit $69.09 on the upside on Thursday, eventually ending the session at $69.09, with a gain of 1.29% or 0.88 points. The heightened volatility saw the trading volume jump to 2,51,711 shares. Company has a market cap of $3,516 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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