Capital Research & Management Co recently announced the acquisition of new stake in EPAM Systems Inc (NYSE:EPAM). The institutional investor has increased its shareholding in the Technology company by 1.98% to 7.65 million shares with purchase of 0.15 million shares. This fresh investment now brings its stake to 13.25% valued currently at $2.27 billion. In addition, The Vanguard Group, Inc. raised its holdings by 16710.0 to 6.55 million shares. And BlackRock Fund Advisors has lifted its position by 0.88% or 25757.0 shares – to 2.95 million shares.
With over 0.5 million EPAM Systems Inc (EPAM) shares trading Friday and a closing price of $307.73 on the day, the dollar volume was approximately $152.69 million. The shares have shown a positive half year performance of 27.19% and its price on 01/12/24 gained nearly 2.68%. Currently, there are 57.66M common shares owned by the public and among those 56.28M shares have been available to trade.
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Insiders at the company have transacted a total of 75 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 31 of these insider trades were purchases, accounting for 76,255 shares. Insider sales of the common stock occurred on 44 occasions, with total insider shares sold totaling 24,629 shares.
The top 3 mutual fund holders in EPAM Systems Inc are American Funds Capital World Grow, American Funds Investment Company, and Vanguard Total Stock Market ETF. American Funds Capital World Grow owns 2.35 million shares of the company’s stock, all valued at over $697.67 million. The company sold 1785.0 shares recently to bring their total holdings to about 4.07% of the shares outstanding. American Funds Investment Company sold 3402.0 shares to see its total holdings shrink to 1.87 million shares valued at over $555.53 million and representing 3.24% of the shares outstanding. Vanguard Total Stock Market ETF bought 2220.0 shares to bring its total holdings to over 1.82 million shares at a value of $540.21 million. Vanguard Total Stock Market ETF now owns shares totaling to 3.15% of the shares outstanding.
Shares of EPAM Systems Inc (NYSE: EPAM) opened at $301.25, up $1.55 from a prior closing price of $299.70. However, the script later moved the day high at 309.38, up 2.68%. The company’s stock has a 5-day price change of 6.54% and 29.54% over the past three months. EPAM shares are trading 3.49% year to date (YTD), with the 12-month market performance down to -8.59% lower. It has a 12-month low price of $197.99 and touched a high of $385.96 over the same period. EPAM has an average intraday trading volume of 437.76K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.53%, 14.54%, and 21.43% respectively.
Institutional ownership of EPAM Systems Inc (NYSE: EPAM) shares accounts for 94.08% of the company’s 57.66M shares outstanding. Mutual fund holders own 31.48%, while other institutional holders and individual stakeholders account for 63.52% and 11.08% respectively.
It has a market capitalization of $17.76B and a beta (3y monthly) value of 1.46. The stock’s trailing 12-month PE ratio is 38.40, while the earnings-per-share (ttm) stands at $8.01. The company has a PEG of 7.84 and a Quick Ratio of 4.77 with the debt-to-equity ratio at 0.05. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.01% over the week and 2.40% over the month.
Analysts forecast that EPAM Systems Inc (EPAM) will achieve an EPS of $2.5 for the current quarter, $2.42 for the next quarter and $10.64 for 2024. The lowest estimate earnings-per-share for the quarter is $2.28 while analysts give the company a high EPS estimate of $2.56. Comparatively, EPS for the current quarter was $2.93 a year ago. Earnings per share for the fiscal year are expected to decrease by -5.23%, and 2.58% over the next financial year. EPS should shrink at an annualized rate of 4.90% over the next five years, compared to 39.89% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 21 brokerage firm advisors rate EPAM Systems Inc (EPAM) as a “Moderate Buy” at a consensus score of 2.19. Specifically, 9 Wall Street analysts polled rate the stock as a buy, while 11 of the 21 advise that investors “hold,” and 0 rated it as a “Sell.”
