Marcato Capital Management Lp buys $29,544,628 stake in EPIQ Systems (EPIQ)

EPIQ Systems (EPIQ) : Marcato Capital Management Lp scooped up 1,493,124 additional shares in EPIQ Systems during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 1,809,224 shares of EPIQ Systems which is valued at $29,544,628.EPIQ Systems makes up approximately 2.12% of Marcato Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Arrowstreet Capital Limited Partnership reduced its stake in EPIQ by selling 12,680 shares or 32.22% in the most recent quarter. The Hedge Fund company now holds 26,674 shares of EPIQ which is valued at $435,586. Laurion Capital Management Lp added EPIQ to its portfolio by purchasing 20,800 company shares during the most recent quarter which is valued at $339,664. EPIQ Systems makes up approx 0.02% of Laurion Capital Management Lp’s portfolio.Keeley Asset Management Corp reduced its stake in EPIQ by selling 8,200 shares or 7.88% in the most recent quarter. The Hedge Fund company now holds 95,800 shares of EPIQ which is valued at $1,564,414. EPIQ Systems makes up approx 0.06% of Keeley Asset Management Corp’s portfolio.Martingale Asset Management L P reduced its stake in EPIQ by selling 4,930 shares or 8.59% in the most recent quarter. The Hedge Fund company now holds 52,489 shares of EPIQ which is valued at $857,145. EPIQ Systems makes up approx 0.01% of Martingale Asset Management L P’s portfolio.

EPIQ Systems opened for trading at $16.44 and hit $16.49 on the upside on Thursday, eventually ending the session at $16.49, with a gain of 0.43% or 0.07 points. The heightened volatility saw the trading volume jump to 1,65,837 shares. Company has a market cap of $629 M.

On the company’s financial health, EPIQ Systems reported $0.21 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Aug 9, 2016. Analyst had a consensus of $0.22. The company had revenue of $130.65 million for the quarter, compared to analysts expectations of $135.83 million. The company’s revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS.

Many Wall Street Analysts have commented on EPIQ Systems. EPIQ Systems was Downgraded by Barrington Research to ” Underperform” on Aug 11, 2016.

Epiq Systems Inc. is a global provider of integrated technology solutions for the legal profession. The Company offers these capabilities across a variety of practice areas including bankruptcy litigation class action antitrust investigations and regulatory compliance. It offers managed technology solutions for eDiscovery document review and legal notification. The Company operates in two segments: the Technology segment which provides eDiscovery managed services and technology solutions comprised 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 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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