Bank of New York Mellon Corp decreased its stake in shares of Epiq Systems Inc. (NASDAQ:EPIQ) by 9.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 507,052 shares of the company’s stock after selling 51,199 shares during the period. Bank of New York Mellon Corp owned 1.34% of Epiq Systems worth $7,403,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Simplex Trading LLC increased its position in shares of Epiq Systems by 736.4% in the second quarter. Simplex Trading LLC now owns 8,749 shares of the company’s stock worth $127,000 after buying an additional 7,703 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Epiq Systems by 114.4% in the second quarter. BNP Paribas Arbitrage SA now owns 9,746 shares of the company’s stock worth $142,000 after buying an additional 5,201 shares in the last quarter. LMR Partners LLP purchased a new position in shares of Epiq Systems during the second quarter worth $155,000. Eqis Capital Management Inc. increased its position in shares of Epiq Systems by 2.4% in the second quarter. Eqis Capital Management Inc. now owns 11,197 shares of the company’s stock worth $163,000 after buying an additional 258 shares in the last quarter. Finally, Springbok Capital Management LLC increased its position in shares of Epiq Systems by 12.3% in the first quarter. Springbok Capital Management LLC now owns 12,336 shares of the company’s stock worth $185,000 after buying an additional 1,354 shares in the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.
Epiq Systems Inc. (NASDAQ:EPIQ) traded down 0.24% during midday trading on Monday, reaching $16.46. 605,420 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $16.41 and a 200 day moving average price of $15.07. Epiq Systems Inc. has a 12-month low of $10.50 and a 12-month high of $16.61. The company’s market cap is $627.55 million.
Epiq Systems (NASDAQ:EPIQ) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.21 EPS for the quarter, missing the Zacks’ consensus estimate of $0.22 by $0.01. Epiq Systems had a positive return on equity of 10.00% and a negative net margin of 2.80%. The company earned $130.65 million during the quarter, compared to analysts’ expectations of $146.74 million. During the same period in the prior year, the firm earned $0.18 EPS. Epiq Systems’s quarterly revenue was up .1% on a year-over-year basis. On average, analysts expect that Epiq Systems Inc. will post $0.89 EPS for the current fiscal year.
A number of brokerages recently weighed in on EPIQ. Barrington Research downgraded shares of Epiq Systems from a “market perform” rating to an “underperform” rating in a research note on Thursday, August 11th. Zacks Investment Research raised shares of Epiq Systems from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Thursday, July 21st.
About Epiq Systems
Epiq Systems, Inc (Epiq) is a provider of professional services and integrated technology for the legal profession. The Company operates in two segments: the Technology segment (Technology), which provides eDiscovery managed services and technology solutions consisting 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 (Bankruptcy and Settlement Administration), 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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