EPAM Systems, Inc. Stake Lessened by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S Decreases Stake in EPAM Systems, Inc. (NYSE:EPAM)

In a recent filing with the Securities and Exchange Commission (SEC), BI Asset Management Fondsmaeglerselskab A S revealed that it has reduced its stake in EPAM Systems, Inc. (NYSE:EPAM) by 51.4% in the 1st quarter. The institutional investor now owns 608 shares of the information technology services provider’s stock, down from 1,250 shares previously. The value of BI Asset Management Fondsmaeglerselskab A S’s holdings in EPAM Systems is estimated to be $168,000.

This move comes as several other large investors have also made changes to their positions in EPAM Systems. Atria Wealth Solutions Inc. increased its stake by 3.3% in the fourth quarter, while Equitable Trust Co., Czech National Bank, Meridian Management Co., and Kentucky Retirement Systems all added to their holdings in the first quarter.

Wall Street analysts have been closely monitoring EPAM Systems, with various ratings and price targets being issued. The consensus rating for the stock is currently “Hold,” with a consensus target price of $272.11.

EPAM Systems stock was up 4.1% on Friday, opening at $189.17. The company’s financial performance has been strong, with earnings per share beating estimates in the last quarter. Analysts expect EPAM Systems to post 7.8 earnings per share for the current fiscal year.

EPAM Systems, Inc. provides digital platform engineering and software development services globally. The company’s offerings include engineering services, infrastructure management services, and more.

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