Sqn Investors Lp Lowers stake in EPIQ Systems (EPIQ)

EPIQ Systems (EPIQ) : Sqn Investors Lp reduced its stake in EPIQ Systems by 67.95% during the most recent quarter end. The investment management company now holds a total of 308,065 shares of EPIQ Systems which is valued at $5,030,701 after selling 653,005 shares in EPIQ Systems , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.EPIQ Systems makes up approximately 2.93% of Sqn Investors Lp’s portfolio.

Other Hedge Funds, Including , Water Island Capital sold out all of its stake in EPIQ during the most recent quarter. The investment firm sold 92,306 shares of EPIQ which is valued $1,507,357.Parametric Portfolio Associates reduced its stake in EPIQ by selling 79 shares or 0.08% in the most recent quarter. The Hedge Fund company now holds 96,795 shares of EPIQ which is valued at $1,580,662.Alambic Investment Management boosted its stake in EPIQ in the latest quarter, The investment management firm added 27,524 additional shares and now holds a total of 49,941 shares of EPIQ Systems which is valued at $815,537. EPIQ Systems makes up approx 0.18% of Alambic Investment Management’s portfolio.Pitcairn Co reduced its stake in EPIQ by selling 344 shares or 2.08% in the most recent quarter. The Hedge Fund company now holds 16,233 shares of EPIQ which is valued at $265,410. EPIQ Systems makes up approx 0.03% of Pitcairn Co’s portfolio.

EPIQ Systems opened for trading at $16.44 and hit $16.49 on the upside on Thursday, eventually ending the session at $16.49, with a gain of 0.43% or 0.07 points. The heightened volatility saw the trading volume jump to 1,65,837 shares. Company has a market cap of $629 M.

On the company’s financial health, EPIQ Systems reported $0.21 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Aug 9, 2016. Analyst had a consensus of $0.22. The company had revenue of $130.65 million for the quarter, compared to analysts expectations of $135.83 million. The company’s revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS.

Many Wall Street Analysts have commented on EPIQ Systems. EPIQ Systems was Downgraded by Barrington Research to ” Underperform” on Aug 11, 2016.

Epiq Systems Inc. is a global provider of integrated technology solutions for the legal profession. The Company offers these capabilities across a variety of practice areas including bankruptcy litigation class action antitrust investigations and regulatory compliance. It offers managed technology solutions for eDiscovery document review and legal notification. The Company operates in two segments: the Technology segment which provides eDiscovery managed services and technology solutions comprised of consulting collections and forensics processing search and review production of documents and document review services to companies and law firms and the Bankruptcy and Settlement Administration segment which provides managed services and technology solutions that address the needs of its customers with respect to litigation claims and project administration compliance matters controlled disbursements corporate restructuring bankruptcy and class action proceedings.

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