APG Asset Management US Inc. purchased a new position in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,792 shares of the information technology services provider's stock, valued at approximately $419,000.
Several other hedge funds have also made changes to their positions in the business. Norges Bank purchased a new position in EPAM Systems during the fourth quarter worth about $173,053,000. William Blair Investment Management LLC acquired a new stake in shares of EPAM Systems during the 4th quarter worth $166,906,000. Massachusetts Financial Services Co. MA raised its position in shares of EPAM Systems by 96.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 818,881 shares of the information technology services provider's stock worth $191,471,000 after buying an additional 401,355 shares during the period. Teacher Retirement System of Texas acquired a new position in EPAM Systems in the fourth quarter valued at $86,699,000. Finally, Manning & Napier Advisors LLC grew its position in EPAM Systems by 48.8% during the fourth quarter. Manning & Napier Advisors LLC now owns 664,286 shares of the information technology services provider's stock valued at $155,323,000 after acquiring an additional 217,960 shares during the period. Institutional investors and hedge funds own 91.58% of the company's stock.
Insiders Place Their Bets
In other EPAM Systems news, 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 transaction, the chief financial officer now owns 23,382 shares in the company, valued at approximately $6,009,174. This represents a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.30% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
EPAM has been the topic of several research analyst reports. Barclays reduced their price objective 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. StockNews.com downgraded shares of EPAM Systems from a "buy" rating to a "hold" rating in a research note on Saturday. Scotiabank cut their target price on shares of EPAM Systems from $275.00 to $250.00 and set a "sector outperform" rating on the stock in a research note on Monday, February 24th. Morgan Stanley upped 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 report on Friday, January 31st. Finally, Jefferies Financial Group cut their price objective on EPAM Systems from $305.00 to $288.00 and set a "buy" rating on the stock in a research report on Tuesday, January 21st. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $251.80.
Check Out Our Latest Analysis on EPAM Systems
EPAM Systems Stock Performance
EPAM traded down $0.64 during trading hours on Tuesday, hitting $151.33. 216,011 shares of the stock were exchanged, compared to its average volume of 693,032. 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, Inc. has a 12 month low of $138.15 and a 12 month high of $269.00. The stock has a 50-day simple moving average of $196.30 and a 200-day simple moving average of $216.42. The stock has a market cap of $8.64 billion, a price-to-earnings ratio of 19.30, a price-to-earnings-growth ratio of 3.38 and a beta of 1.69.
EPAM Systems (NYSE:EPAM - Get Free Report) last posted 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). The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.21 billion. EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. Analysts anticipate that EPAM Systems, Inc. will post 8.9 earnings per share for the current year.
EPAM Systems Company Profile
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Free Report)
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.
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