Martin Currie Ltd Lowers stake in EPAM Systems Inc (EPAM)

EPAM Systems Inc (EPAM) : Martin Currie Ltd reduced its stake in EPAM Systems Inc by 5.59% during the most recent quarter end. The investment management company now holds a total of 272,100 shares of EPAM Systems Inc which is valued at $16,856,595 after selling 16,100 shares in EPAM Systems Inc , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.EPAM Systems Inc makes up approximately 1.57% of Martin Currie Ltd’s portfolio.

Other Hedge Funds, Including , Clinton Group Inc sold out all of its stake in EPAM during the most recent quarter. The investment firm sold 135,528 shares of EPAM which is valued $8,395,960.Tiaa Cref Investment Management reduced its stake in EPAM by selling 79,123 shares or 31.05% in the most recent quarter. The Hedge Fund company now holds 175,725 shares of EPAM which is valued at $10,661,236. EPAM Systems Inc makes up approx 0.01% of Tiaa Cref Investment Management’s portfolio. Clarivest Asset Management sold out all of its stake in EPAM during the most recent quarter. The investment firm sold 19,533 shares of EPAM which is valued $1,185,067. First Trust Advisors Lp sold out all of its stake in EPAM during the most recent quarter. The investment firm sold 17,848 shares of EPAM which is valued $1,142,094. Solaris Asset Management added EPAM to its portfolio by purchasing 94 company shares during the most recent quarter which is valued at $6,289.

EPAM Systems Inc opened for trading at $64.46 and hit $65.14 on the upside on Monday, eventually ending the session at $64.86, with a gain of 1.23% or 0.79 points. The heightened volatility saw the trading volume jump to 4,19,923 shares. Company has a market cap of $3,310 M.

On the company’s financial health, EPAM Systems Inc reported $0.76 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Nov 7, 2016. Analyst had a consensus of $0.75. The company had revenue of $298.30 million for the quarter, compared to analysts expectations of $296.38 million. The company’s revenue was up 26.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.70 EPS.

Many Wall Street Analysts have commented on EPAM Systems Inc. Shares were Reiterated by Needham on Nov 8, 2016 to “Buy” and Lowered the Price Target to $ 75 from a previous price target of $82 .Monness Crespi & Hardt Upgraded EPAM Systems Inc on Oct 20, 2016 to ” Buy”, Price Target of the shares are set at $75.Wedbush Initiated EPAM Systems Inc on Sep 9, 2016 to “Outperform”, Price Target of the shares are set at $82.

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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