Connor Clark & Lunn Investment Management Ltd. Invests $3.98 Million in EPAM Systems, Inc. (NYSE:EPAM)

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 17,012 shares of the information technology services provider's stock, valued at approximately $3,978,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC lifted its position in shares of EPAM Systems by 90.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider's stock worth $27,000 after purchasing an additional 54 shares during the period. Versant Capital Management Inc acquired a new position in EPAM Systems in the fourth quarter valued at $35,000. Manchester Capital Management LLC boosted its position in EPAM Systems by 590.0% during the fourth quarter. Manchester Capital Management LLC now owns 207 shares of the information technology services provider's stock valued at $48,000 after acquiring an additional 177 shares during the last quarter. Continuum Advisory LLC grew its holdings in EPAM Systems by 5,240.0% during the 3rd quarter. Continuum Advisory LLC now owns 267 shares of the information technology services provider's stock worth $53,000 after acquiring an additional 262 shares during the period. Finally, First Horizon Advisors Inc. raised its position in shares of EPAM Systems by 21.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 325 shares of the information technology services provider's stock worth $65,000 after acquiring an additional 57 shares in the last quarter. 91.58% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

EPAM has been the subject of a number of research reports. StockNews.com cut shares of EPAM Systems from a "buy" rating to a "hold" rating in a report on Friday, February 21st. Morgan Stanley raised their target price on EPAM Systems from $230.00 to $256.00 and gave the company an "equal weight" rating in a research note on Friday, January 31st. Barclays dropped their price target on EPAM Systems from $290.00 to $270.00 and set an "overweight" rating on the stock in a research note on Monday, March 10th. The Goldman Sachs Group raised EPAM Systems from a "neutral" rating to a "buy" rating and raised their price objective for the company from $235.00 to $295.00 in a research note on Friday, December 6th. Finally, Scotiabank lowered their target price on EPAM Systems from $275.00 to $250.00 and set a "sector outperform" rating on the stock in a research report on Monday, February 24th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $262.47.

EPAM Systems Stock Performance

Shares of EPAM traded down $8.61 during mid-day trading on Thursday, hitting $172.26. The stock had a trading volume of 1,483,290 shares, compared to its average volume of 653,130. The business has a fifty day moving average price of $228.32 and a 200-day moving average price of $221.97. The firm has a market cap of $9.80 billion, a P/E ratio of 21.97, a PEG ratio of 3.38 and a beta of 1.61. EPAM Systems, Inc. has a 52 week low of $169.43 and a 52 week high of $295.59. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.96 and a quick ratio of 4.56.

EPAM Systems (NYSE:EPAM - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $2.23 EPS for the quarter, missing analysts' consensus estimates of $2.75 by ($0.52). EPAM Systems had a return on equity of 14.60% and a net margin of 9.61%. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.21 billion. On average, equities research analysts expect that EPAM Systems, Inc. will post 8.9 EPS for the current year.

Insider Transactions at EPAM Systems

In other EPAM Systems news, CFO Jason D. Peterson sold 1,078 shares of EPAM Systems stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $257.00, for a total transaction of $277,046.00. Following the completion of the sale, the chief financial officer now directly owns 23,382 shares in the company, valued at $6,009,174. The trade was a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.30% of the stock is owned by insiders.

EPAM Systems Profile

EPAM Systems, Inc provides digital platform engineering and software development services worldwide. The company offers engineering services, including requirements analysis and platform selection, customization, cross-platform migration, implementation, and integration; infrastructure management services, such as software development, testing, performance tuning, deployment, maintenance, and support services.