Bryce Point Capital LLC Acquires New Stake in EPAM Systems, Inc. (NYSE:EPAM)

Bryce Point Capital LLC bought a new stake in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,215 shares of the information technology services provider's stock, valued at approximately $518,000.

Other hedge funds also recently added to or reduced their stakes in the company. Aurora Investment Counsel raised its stake in shares of EPAM Systems by 0.7% during 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 during the last quarter. UniSuper Management Pty Ltd raised its position in 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 in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in 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 during the period. SkyView Investment Advisors LLC boosted its position in EPAM Systems by 3.0% in the 3rd quarter. SkyView Investment Advisors LLC now owns 2,055 shares of the information technology services provider's stock worth $409,000 after purchasing an additional 60 shares in the last quarter. Finally, Baker Tilly Wealth Management LLC grew its stake in shares of EPAM Systems by 4.9% during the 4th 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 during the period. 91.58% of the stock is owned by hedge funds and other institutional investors.

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EPAM Systems Stock Up 11.1 %

Shares of EPAM traded up $15.90 during mid-day trading on Wednesday, reaching $159.23. The company's stock had a trading volume of 1,483,812 shares, compared to its average volume of 690,322. The company's 50 day moving average is $202.78 and its 200 day moving average is $217.36. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.96 and a quick ratio of 4.56. The stock has a market cap of $9.09 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 3.38 and a beta of 1.69. EPAM Systems, Inc. has a 12-month low of $138.15 and a 12-month high of $271.61.

EPAM Systems (NYSE:EPAM - Get Free Report) last released 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 company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.21 billion. EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. Equities analysts anticipate that EPAM Systems, Inc. will post 8.9 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on EPAM. Scotiabank lowered their price target on shares of EPAM Systems from $275.00 to $250.00 and set a "sector outperform" rating on the stock in a report on Monday, February 24th. Morgan Stanley increased their price target on EPAM Systems from $230.00 to $256.00 and gave the stock an "equal weight" rating in a research report on Friday, January 31st. Jefferies Financial Group decreased their target price 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. Barclays reduced their price objective on EPAM Systems from $290.00 to $270.00 and set an "overweight" rating for the company in a research note on Monday, March 10th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $265.00 target price on shares of EPAM Systems in a research note on Thursday, February 20th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $257.31.

Insider Activity

In related news, CFO Jason D. Peterson sold 1,078 shares of the firm'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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.30% of the company's stock.

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.