Allstate Corp Invests $393,000 in EPAM Systems, Inc. (NYSE:EPAM)

Allstate Corp acquired a new stake in EPAM Systems, Inc. (NYSE:EPAM - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,680 shares of the information technology services provider's stock, valued at approximately $393,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Aurora Investment Counsel lifted its stake in EPAM Systems by 0.7% in the 4th quarter. Aurora Investment Counsel now owns 6,101 shares of the information technology services provider's stock valued at $1,427,000 after buying an additional 45 shares in the last quarter. UniSuper Management Pty Ltd raised its holdings in shares of EPAM Systems by 0.3% during the fourth quarter. UniSuper Management Pty Ltd now owns 15,632 shares of the information technology services provider's stock valued at $3,655,000 after acquiring an additional 52 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of EPAM Systems by 90.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider's stock valued at $27,000 after acquiring an additional 54 shares in the last quarter. SkyView Investment Advisors LLC boosted its stake in shares of EPAM Systems by 3.0% in the third quarter. SkyView Investment Advisors LLC now owns 2,055 shares of the information technology services provider's stock worth $409,000 after acquiring an additional 60 shares during the last quarter. Finally, Baker Tilly Wealth Management LLC increased its position in shares of EPAM Systems by 4.9% during the fourth quarter. Baker Tilly Wealth Management LLC now owns 1,465 shares of the information technology services provider's stock worth $343,000 after purchasing an additional 69 shares in the last quarter. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on EPAM shares. Scotiabank decreased their price objective on EPAM Systems from $275.00 to $250.00 and set a "sector outperform" rating on the stock in a report on Monday, February 24th. Needham & Company LLC reissued a "buy" rating and issued a $265.00 price target on shares of EPAM Systems in a research note on Thursday, February 20th. Morgan Stanley upped their price objective on shares of 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 decreased their target price on shares of EPAM Systems from $290.00 to $270.00 and set an "overweight" rating on the stock in a research note on Monday, March 10th. Finally, Jefferies Financial Group dropped their price target on EPAM Systems from $305.00 to $288.00 and set a "buy" rating for the company in a research report on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $257.31.

Insiders Place Their Bets

In other EPAM Systems news, CFO Jason D. Peterson sold 1,078 shares of the business'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 transaction of $277,046.00. Following the completion of the transaction, the chief financial officer now owns 23,382 shares in the company, valued at $6,009,174. The trade was a 4.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 4.30% of the stock is owned by company insiders.

EPAM Systems Trading Up 0.0 %

EPAM traded up $0.00 during mid-day trading on Monday, hitting $144.67. 1,198,182 shares of the stock were exchanged, compared to its average volume of 682,709. The firm's fifty day moving average is $210.93 and its two-hundred day moving average is $218.95. EPAM Systems, Inc. has a 1-year low of $138.15 and a 1-year high of $275.49. The company has a market cap of $8.26 billion, a PE ratio of 18.45, a PEG ratio of 3.38 and a beta of 1.69. The company has a current ratio of 2.96, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01.

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 the consensus estimate of $2.75 by ($0.52). The business had revenue of $1.25 billion during 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%. Equities analysts forecast that EPAM Systems, Inc. will post 8.9 earnings per share for the current fiscal year.

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.