abrdn plc Sells 3,430 Shares of EPAM Systems, Inc. (NYSE:EPAM)

abrdn plc reduced its position in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 11.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,773 shares of the information technology services provider's stock after selling 3,430 shares during the period. abrdn plc's holdings in EPAM Systems were worth $6,023,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Creative Planning increased its stake in EPAM Systems by 34.0% during the 2nd quarter. Creative Planning now owns 3,574 shares of the information technology services provider's stock worth $672,000 after acquiring an additional 907 shares during the period. Czech National Bank increased its stake in EPAM Systems by 5.0% during the 3rd quarter. Czech National Bank now owns 11,598 shares of the information technology services provider's stock worth $2,308,000 after acquiring an additional 551 shares during the period. GAMMA Investing LLC increased its stake in EPAM Systems by 147.7% during the 3rd quarter. GAMMA Investing LLC now owns 753 shares of the information technology services provider's stock worth $150,000 after acquiring an additional 449 shares during the period. CWM LLC increased its stake in EPAM Systems by 112.8% during the 3rd quarter. CWM LLC now owns 3,951 shares of the information technology services provider's stock worth $786,000 after acquiring an additional 2,094 shares during the period. Finally, Perpetual Ltd bought a new position in EPAM Systems during the 3rd quarter worth $272,000. 91.58% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at EPAM Systems

In other EPAM Systems news, SVP Viktar Dvorkin sold 6,758 shares of the company's stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $256.53, for a total value of $1,733,629.74. Following the sale, the senior vice president now owns 13,000 shares in the company, valued at approximately $3,334,890. The trade was a 34.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Jason D. Peterson sold 1,078 shares of the company's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $257.00, for a total value of $277,046.00. Following the completion of the sale, the chief financial officer now owns 23,382 shares in the company, valued at $6,009,174. This trade represents a 4.41 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,300 shares of company stock worth $2,129,924. Insiders own 4.30% of the company's stock.

EPAM Systems Price Performance

EPAM traded up $0.99 on Wednesday, reaching $264.91. The stock had a trading volume of 803,518 shares, compared to its average volume of 511,586. The firm has a 50-day moving average of $242.67 and a 200-day moving average of $220.06. EPAM Systems, Inc. has a fifty-two week low of $169.43 and a fifty-two week high of $317.50. The company has a market capitalization of $15.03 billion, a price-to-earnings ratio of 34.40, a price-to-earnings-growth ratio of 3.96 and a beta of 1.51. The company has a current ratio of 4.56, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01.

Analyst Upgrades and Downgrades

A number of research firms have commented on EPAM. Susquehanna raised their price objective on EPAM Systems from $240.00 to $270.00 and gave the stock a "positive" rating in a research note on Friday, November 8th. Barclays upgraded EPAM Systems from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $250.00 to $290.00 in a research note on Tuesday, December 17th. Scotiabank raised EPAM Systems from a "sector perform" rating to a "sector outperform" rating and boosted their price target for the stock from $245.00 to $275.00 in a report on Monday, November 11th. Mizuho boosted their price target on EPAM Systems from $245.00 to $282.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Finally, Needham & Company LLC boosted their price target on EPAM Systems from $215.00 to $265.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $271.47.

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.