AGF Management Ltd. Makes New $2.38 Million Investment in EPAM Systems, Inc. (NYSE:EPAM)

AGF Management Ltd. purchased a new stake in EPAM Systems, Inc. (NYSE:EPAM - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,170 shares of the information technology services provider's stock, valued at approximately $2,378,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Centre Asset Management LLC bought a new stake in shares of EPAM Systems in the fourth quarter valued at about $8,757,000. Oppenheimer Asset Management Inc. bought a new stake in shares of EPAM Systems in the 3rd quarter worth approximately $8,195,000. Oliver Luxxe Assets LLC bought a new stake in shares of EPAM Systems in the 4th quarter worth approximately $1,889,000. Victory Capital Management Inc. increased its position in shares of EPAM Systems by 247.6% during the third quarter. Victory Capital Management Inc. now owns 72,447 shares of the information technology services provider's stock valued at $14,419,000 after purchasing an additional 51,603 shares during the period. Finally, MAI Capital Management raised its stake in shares of EPAM Systems by 10.3% in the third quarter. MAI Capital Management now owns 40,126 shares of the information technology services provider's stock valued at $7,986,000 after purchasing an additional 3,750 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors and hedge funds.

EPAM Systems Price Performance

Shares of NYSE EPAM traded up $3.61 during trading on Monday, reaching $186.34. The company had a trading volume of 620,422 shares, compared to its average volume of 685,004. EPAM Systems, Inc. has a 52 week low of $169.43 and a 52 week high of $301.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 2.96. The business's 50 day moving average price is $231.08 and its 200-day moving average price is $222.49. The stock has a market cap of $10.60 billion, a PE ratio of 23.77, a PEG ratio of 3.38 and a beta of 1.61.

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Morgan Stanley lifted their price target on shares of EPAM Systems from $230.00 to $256.00 and gave the stock an "equal weight" rating in a research note on Friday, January 31st. Jefferies Financial Group lowered their target price on shares of EPAM Systems from $305.00 to $288.00 and set a "buy" rating on the stock in a research note on Tuesday, January 21st. Needham & Company LLC restated a "buy" rating and set a $265.00 price target on shares of EPAM Systems in a research note on Thursday, February 20th. The Goldman Sachs Group upgraded EPAM Systems from a "neutral" rating to a "buy" rating and upped their price objective for the company from $235.00 to $295.00 in a research note on Friday, December 6th. Finally, Scotiabank dropped their target price on EPAM Systems from $275.00 to $250.00 and set a "sector outperform" rating for the company in a report on Monday, February 24th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $267.33.

Insider Activity

In other EPAM Systems news, CFO Jason D. Peterson sold 1,078 shares of the firm's stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $257.00, for a total value of $277,046.00. Following the transaction, the chief financial officer now directly owns 23,382 shares of the company's stock, valued at approximately $6,009,174. This trade represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.30% of the stock is currently 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.