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Epam Systems (EPAM) Holder American National Registered Investment Advisor Has Trimmed …

Baupost Group Llc increased its stake in Liberty Global Plc (LBTYK) by 7.28% based on its latest 2019Q2 regulatory filing with the SEC. Baupost …

EPAM Systems, Inc. (NYSE:EPAM) Logo

American National Registered Investment Advisor Inc decreased its stake in Epam Systems Inc (EPAM) by 47.41% based on its latest 2019Q2 regulatory filing with the SEC. American National Registered Investment Advisor Inc sold 2,200 shares as the company’s stock rose 8.86% . The institutional investor held 2,440 shares of the technology company at the end of 2019Q2, valued at $422,000, down from 4,640 at the end of the previous reported quarter. American National Registered Investment Advisor Inc who had been investing in Epam Systems Inc for a number of months, seems to be less bullish one the $10.08 billion market cap company. The stock increased 4.31% or $7.6 during the last trading session, reaching $183.73. About 561,533 shares traded or 40.28% up from the average. EPAM Systems, Inc. (NYSE:EPAM) has risen 49.89% since September 12, 2018 and is uptrending. It has outperformed by 49.89% the S&P500. Some Historical EPAM News: 09/05/2018 – EPAM Systems 1Q Net $64.4M; 15/03/2018 – EPAM SYSTEMS, INC: EPAM BUYS CONTINUUM, EXPANDING GLOBAL; 09/05/2018 – EPAM Systems 1Q Adj EPS 93c; 09/05/2018 – EPAM SEES YR ADJ EPS AT LEAST $4.11, EST. $4.05; 09/05/2018 – EPAM Systems 1Q EPS $1.15; 09/05/2018 – EPAM SYSTEMS INC EPAM.N SEES FY 2018 GAAP SHR AT LEAST $3.77; 15/03/2018 – EPAM BUYS CONTINUUM, SEES YR REV. GROWTH AT LEAST 26% REPORTED; 09/05/2018 – EPAM SYSTEMS 1Q ADJ EPS 93C, EST. 91C; 15/03/2018 – EPAM Systems Sees 2018 EPS at Least $3.36; 09/05/2018 – EPAM Systems Sees 2Q Rev $445M

Baupost Group Llc increased its stake in Liberty Global Plc (LBTYK) by 7.28% based on its latest 2019Q2 regulatory filing with the SEC. Baupost Group Llc bought 2.84M shares as the company’s stock rose 0.89% . The hedge fund held 41.94M shares of the television services company at the end of 2019Q2, valued at $1.11B, up from 39.09 million at the end of the previous reported quarter. Baupost Group Llc who had been investing in Liberty Global Plc for a number of months, seems to be bullish on the $19.82 billion market cap company. The stock decreased 0.70% or $0.19 during the last trading session, reaching $26.95. About 5.70M shares traded or 37.95% up from the average. Liberty Global Plc (NASDAQ:LBTYK) has declined 0.99% since September 12, 2018 and is downtrending. It has underperformed by 0.99% the S&P500. Some Historical LBTYK News: 09/05/2018 – Deutsche Telekom: Vodafone-Liberty deal would distort competition; 08/05/2018 – Vodafone nears €18bn deal for chunk of Liberty Global; 04/05/2018 – Liberty Global offers EU concessions over Ziggo takeover; 08/05/2018 – $VOD.GB, LBTYA: Confirmed. Announcement likely tomorrow at 7am UK time; 10/05/2018 – S&PGRBulletin: Liberty Global Rtgs Not Affected By Assets Sale; 30/05/2018 – VODAFONE GROUP – INTENDS TO USE NET PROCEEDS FROM TRANSACTION TO FUND ACQUISITION OF LIBERTY GLOBAL’S OPERATIONS IN GERMANY, CZECH REPUBLIC, HUNGARY, ROMANIA; 30/05/2018 – EU Conditionally Approves Liberty Global’s Ziggo Acquisition; 23/05/2018 – Vodafone Borrows $11.5 Billion for Liberty Global Acquisition; 23/05/2018 – Vodafone Is Said to Offer Bonds to Finance Liberty Global Deal; 09/05/2018 – VODAFONE GROUP VOD.L HAS AGREED TO A NEARLY $23 BILLION DEAL TO BUY OPERATIONS IN FOUR EUROPEAN COUNTRIES FROM JOHN MALONE’S LIBERTY GLOBAL LBTYA.O

More notable recent EPAM Systems, Inc. (NYSE:EPAM) news were published by: Finance.Yahoo.com which released: “What Can We Make Of EPAM Systems, Inc.’s (NYSE:EPAM) High Return On Capital? – Yahoo Finance” on July 02, 2019, also Finance.Yahoo.com with their article: “Why EPAM Systems, Inc. (NYSE:EPAM) Is A Financially Healthy Company – Yahoo Finance” published on May 06, 2019, Businesswire.com published: “Mobileum Announces Appointment of New CFO – Business Wire” on August 15, 2019. More interesting news about EPAM Systems, Inc. (NYSE:EPAM) were released by: Seekingalpha.com and their article: “EPAM Systems Q2 2019 Earnings Preview – Seeking Alpha” published on August 07, 2019 as well as Prnewswire.com‘s news article titled: “EPAM Joins Blockchain In Transport Alliance, The World’s Largest Commercial Blockchain Association – PRNewswire” with publication date: August 19, 2019.

Analysts await EPAM Systems, Inc. (NYSE:EPAM) to report earnings on November, 7. They expect $1.11 EPS, up 3.74% or $0.04 from last year’s $1.07 per share. EPAM’s profit will be $60.89 million for 41.38 P/E if the $1.11 EPS becomes a reality. After $1.06 actual EPS reported by EPAM Systems, Inc. for the previous quarter, Wall Street now forecasts 4.72% EPS growth.

Investors sentiment increased to 1.51 in 2019 Q2. Its up 0.11, from 1.4 in 2019Q1. It increased, as 27 investors sold EPAM shares while 91 reduced holdings. 74 funds opened positions while 104 raised stakes. 47.53 million shares or 0.31% less from 47.67 million shares in 2019Q1 were reported. Benjamin F Edwards And Com has invested 0% in EPAM Systems, Inc. (NYSE:EPAM). Tcw Grp Inc invested in 185,226 shares or 0.34% of the stock. Canada Pension Plan Invest Board invested in 0.16% or 451,600 shares. Cap Int Investors has invested 0.01% in EPAM Systems, Inc. (NYSE:EPAM). Asset Management One stated it has 0.02% in EPAM Systems, Inc. (NYSE:EPAM). Gilder Gagnon Howe And Lc holds 566,242 shares or 0.99% of its portfolio. M&T Natl Bank Corp stated it has 0% of its portfolio in EPAM Systems, Inc. (NYSE:EPAM). 6,332 are held by Arete Wealth Advsrs Ltd Liability. Macquarie Gp Ltd accumulated 367,945 shares. State Treasurer State Of Michigan invested in 170,000 shares or 0.27% of the stock. 8,250 are held by Shell Asset Management. Federated Invsts Pa holds 0% or 1 shares. Caisse De Depot Et Placement Du Quebec reported 1,600 shares or 0% of all its holdings. Gulf Bank & Trust (Uk) holds 13,800 shares. Comerica National Bank owns 3,010 shares or 0% of their US portfolio.

Baupost Group Llc, which manages about $29.88 billion and $11.05B US Long portfolio, decreased its stake in Sinclair Broadcast Group Inc (NASDAQ:SBGI) by 2.36 million shares to 549,423 shares, valued at $29.47M in 2019Q2, according to the filing. It also reduced its holding in Mckesson Corp (NYSE:MCK) by 220,000 shares in the quarter, leaving it with 2.60 million shares, and cut its stake in Allergan Plc.

EPAM Systems, Inc. (NYSE:EPAM) Institutional Positions Chart

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Tech Mahindra shares likely to rebound after blockbuster deal with AT&T

In comparison, its larger rivals Tata Consultancy Services and Infosys saw their stock surge 14% and 24%, respectively, this year. The S&P BSE IT …

MUMBAI (NewsRise) — Indian software exporter Tech Mahindra‘s big-ticket outsourcing deal with AT&T could breathe fresh life into the Mahindra Group company’s shares, as it potentially bulks up the sagging communications business and raises the prospects of strong revenue growth.

Mumbai-based Tech Mahindra’s shares have lost 2.4% since the beginning of 2019 after they gained 43% last year. In comparison, its larger rivals Tata Consultancy Services and Infosys saw their stock surge 14% and 24%, respectively, this year. The S&P BSE IT index added 13% during this period.

Tech Mahindra’s shares have underperformed its rivals and the BSE IT Index as its weak earnings growth in the past two quarters raised concerns among investors about a further decline in margins.

However, the new deal could help the stock recover. Last week, Tech Mahindra announced one of its largest-ever project wins that could be worth $1 billion over the next four to five years. The contract entailed migration of the U.S. telecom behemoth’s traditional operational and support software systems to cloud and drawing up its software-defined network for the next-generation cellular technology. Tech Mahindra declined to give any financial details of the deal.

The deal is likely to give a fillip to Tech Mahindra’s financial performance, which has been lackluster in the past two quarters as the company struggled with client-specific issues and declining investments from automobile and financial services businesses.

Analysts say revenue growth is crucial for Tech Mahindra to expand its margins. The announcement of AT&T deal comes “as a booster to that effect,” Motilal Oswal said in a report.

The project also underscores the strong deal momentum in the communications industry as operators prepare to modernize their infrastructure ahead of the launch of 5G mobile phone services.

Brokerage Edelweiss expects the deal to catapult Tech Mahindra’s communications revenue — which accounts for over 40% of its overall revenue — to 12% over fiscal year 2019 to 2021 from 6.5%.

“While the deal ramp-up and transition may pressure margins, the potential for a re-rating of the stock is significant too as this landmark deal would boost the company’s single-digit growth estimates currently,” it said. Edelweiss has a target price of 935 rupees on the stock.

“We see this deal as an investment that Tech Mahindra is making to get a large referenceable project to market to the global telecom universe that is at the cusp of pivoting to the 5G era,” Nirmal Bang said in a report Monday. The deal also augurs well for other Indian IT companies such as Tata Consultancy Services, Infosys, and Wipro which have substantial exposure to the communications sector and have partnerships with AT&T.

Tech Mahindra shares fell 1.3% to close at 703.70 rupees in Mumbai trading on Wednesday, while the benchmark S&P BSE Sensex gained 0.3%.

–Dhanya Ann Thoppil

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Indonesian Unicorn Bukalapak Cuts Jobs in Profitability Bid

Bukalapak was valued at $1 billion in November 2017 by CB Insights. Bukalapak is majority Indonesian-owned and was hoping to remain so, Oetomo …

(Bloomberg) — Online market place PT Bukalapak.com is cutting about 10% of its around 2,500 employees, bucking a trend among Indonesian unicorns that have been stepping up hiring this year.

Chief Strategy Officer Teddy Oetomo said in a statement Tuesday that the company would be placing greater emphasis on profitability. It’s targeting break-even or its first profit within five years.

“We have sufficient capital to achieve positive EBITDA if all the initiatives that we have put in place are going as planned,” Oetomo said. “The reason we are targeting for sustainability is because we don’t want to continue raising funds and would like to minimize dilution to existing shareholders.”

Bukalapak was valued at $1 billion in November 2017 by CB Insights.

Bukalapak is majority Indonesian-owned and was hoping to remain so, Oetomo said. The company’s backers include broadcaster PT Elang Mahkota Teknologi. It also counts Singapore’s sovereign wealth fund GIC Pte and China’s Ant Financial, the Alibaba affiliate controlled by billionaire Jack Ma, among its investors.

To contact the reporter on this story: Harry Suhartono in Jakarta at hsuhartono@bloomberg.net

To contact the editors responsible for this story: Thomas Kutty Abraham at tabraham4@bloomberg.net, Colum Murphy, Edwin Chan

For more articles like this, please visit us at bloomberg.com

©2019 Bloomberg L.P.

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CH&CO increases turnover to £286m

The business also welcomed new equity partners, Equistone Partners Europe, who will support CH&CO’s growth ambitions in the foodservice sector.

Independent caterer and Royal Warrant holder, CH&CO, has reported a 19 per cent increase in annual turnover to £286 million in its annual accounts for the financial year ending 31 December 2018.

The latest results, which are in line with the company’s previous year’s projections, show a £46 million increase in turnover from 2017 to 2018 and an increase in profits to £17.2 million EBITDA, representing six per cent of turnover.

In contrast to previous years, there was no merger and acquisition activity in 2018 but the integration of the 2017 mergers with Harbour & Jones and Concerto Group was completed.

Bill Toner, Chief Executive of CH&CO, commented: “2018 was another strong year for CH&CO and all of the M&A growth of previous years was successfully bedded in.

“We introduced a simplified Group structure and undertook a complete rebranding to focus on seven core areas – workplaces, destinations, events, livery, venues, education and healthcare – and this was well-received by clients and team members alike.

“The performance of the company continues to be strong and we have a good track record of successfully growing our business through merging with like-minded companies.

Successes for CH&CO in 2019 include the merging of its Scottish business with Stirling-based Inspire Catering, and last month’s acquisition of Gather & Gather and Creativevents from Mitie. The business also welcomed new equity partners, Equistone Partners Europe, who will support CH&CO’s growth ambitions in the foodservice sector.

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What’s moving markets today: September 4, 2019

Against expectations, the group’s manufacturing index, a key gauge for the industry, came in at 49.1 as the trade war hit sentiment. Any number below …

A version of this post first appeared in the newly relaunched “Before the Bell” newsletter. Subscribe here!

Those who have argued that the United States can withstand the weakness hitting global factories just received a shock: the American manufacturing sector shrank last month, according to the Institute for Supply Management. It’s the first time that’s happened since August 2016.

Against expectations, the group’s manufacturing index, a key gauge for the industry, came in at 49.1 as the trade war hit sentiment. Any number below 50 indicates a contraction.

So what happens now? Societe Generale strategist Kit Juckes points out that this is the third time that the US manufacturing ISM has dropped below 50 since the financial crisis, and the previous two events did not trigger recessions. But it’s definitely not a positive signal.

In the near term, the survey’s biggest impact has been to increase expectations for a larger interest rate cut by the Federal Reserve later this month. The odds of a 50-basis point cut are now at more than 9%, up from 0% on Tuesday, according to CME Group’s FedWatch tool.

But we’ll get a much better picture of what the Fed is working with by the end of the week. The Institute for Supply Management’s non-manufacturing index arrives Thursday. That’s followed, of course, by a blockbuster August jobs report on Friday.

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