EPAM Systems, Inc. (NYSE:EPAM) Stock Holdings Increased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its position in EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 144.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 46,755 shares of the information technology services provider's stock after purchasing an additional 27,627 shares during the period. Allspring Global Investments Holdings LLC owned 0.08% of EPAM Systems worth $10,714,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Geneva Capital Management LLC grew its stake in EPAM Systems by 6.0% in the third quarter. Geneva Capital Management LLC now owns 71,281 shares of the information technology services provider's stock worth $14,187,000 after purchasing an additional 4,027 shares in the last quarter. Centre Asset Management LLC acquired a new position in EPAM Systems in the fourth quarter worth about $8,757,000. Oppenheimer Asset Management Inc. acquired a new position in EPAM Systems in the third quarter worth about $8,195,000. Oliver Luxxe Assets LLC acquired a new position in EPAM Systems in the fourth quarter worth about $1,889,000. Finally, Victory Capital Management Inc. boosted its stake in EPAM Systems by 247.6% in 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 acquiring an additional 51,603 shares during the period. 91.58% of the stock is currently owned by institutional investors and hedge funds.

EPAM Systems Price Performance

NYSE:EPAM traded down $16.09 during midday trading on Friday, hitting $208.98. 1,694,027 shares of the stock were exchanged, compared to its average volume of 603,687. EPAM Systems, Inc. has a one year low of $169.43 and a one year high of $317.50. The company has a market capitalization of $11.85 billion, a price-to-earnings ratio of 27.14, a P/E/G ratio of 3.88 and a beta of 1.51. The business has a 50-day moving average price of $244.27 and a two-hundred day moving average price of $222.18. The company has a current ratio of 4.56, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAM - Get Free Report) last announced its earnings results on Thursday, February 20th. The information technology services provider reported $2.23 EPS for the quarter, missing the consensus estimate of $2.75 by ($0.52). EPAM Systems had a return on equity of 14.92% and a net margin of 9.68%. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.21 billion. Sell-side analysts predict that EPAM Systems, Inc. will post 8.59 EPS for the current year.

Insider Buying and Selling

In other EPAM Systems news, SVP Viktar Dvorkin sold 6,758 shares of the company's stock in a transaction on 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 transaction, the senior vice president now owns 13,000 shares of the company's stock, valued at approximately $3,334,890. This represents a 34.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jason D. Peterson sold 1,078 shares of the company's stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 23,382 shares in the company, valued at $6,009,174. This represents a 4.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,300 shares of company stock valued at $2,129,924 over the last quarter. Corporate insiders own 4.30% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on EPAM shares. StockNews.com upgraded EPAM Systems from a "hold" rating to a "buy" rating in a research note on Friday, November 15th. Piper Sandler lifted their target price on EPAM Systems from $225.00 to $258.00 and gave the company an "overweight" rating in a research note on Thursday, November 7th. Needham & Company LLC restated a "buy" rating and issued a $265.00 target price on shares of EPAM Systems in a research note on Thursday. Morgan Stanley lifted 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. Finally, Barclays upgraded EPAM Systems from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $250.00 to $290.00 in a research note on Tuesday, December 17th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, EPAM Systems currently has an average rating of "Moderate Buy" and a consensus target price of $269.83.

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.