Envestnet Asset Management Inc. Sells 69,993 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Envestnet Asset Management Inc. decreased its stake in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 49.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 71,320 shares of the information technology services provider's stock after selling 69,993 shares during the period. Envestnet Asset Management Inc. owned 0.13% of EPAM Systems worth $16,676,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC increased its position in EPAM Systems by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 1,349,088 shares of the information technology services provider's stock worth $314,616,000 after buying an additional 37,119 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of EPAM Systems by 96.1% during 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. Norges Bank acquired a new stake in shares of EPAM Systems during the fourth quarter worth approximately $173,053,000. William Blair Investment Management LLC acquired a new position in shares of EPAM Systems in the 4th quarter worth approximately $166,906,000. Finally, Manning & Napier Advisors LLC grew its holdings in shares of 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 worth $155,323,000 after purchasing an additional 217,960 shares during the last quarter. 91.58% of the stock is owned by institutional investors.

EPAM Systems Stock Down 0.3 %

NYSE EPAM traded down $0.48 on Friday, reaching $146.80. The company had a trading volume of 419,892 shares, compared to its average volume of 698,723. The company's fifty day moving average is $189.52 and its 200-day moving average is $215.14. The firm has a market capitalization of $8.38 billion, a price-to-earnings ratio of 18.72, a price-to-earnings-growth ratio of 3.38 and a beta of 1.69. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 2.96. EPAM Systems, Inc. has a 1-year low of $138.15 and a 1-year high of $269.00.

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

Insider Activity

In related news, CFO Jason D. Peterson sold 1,078 shares of EPAM Systems stock in a transaction dated Monday, January 27th. The stock was 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 approximately $6,009,174. This trade represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have issued reports on EPAM. 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 report on Monday, February 24th. Piper Sandler cut shares of EPAM Systems from an "overweight" rating to a "neutral" rating and dropped their target price for the company from $251.00 to $170.00 in a research report on Wednesday. Barclays reduced their price target on EPAM Systems from $290.00 to $270.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. StockNews.com downgraded EPAM Systems from a "buy" rating to a "hold" rating in a report on Saturday, April 12th. Finally, Morgan Stanley raised their target price on EPAM Systems from $230.00 to $256.00 and gave the stock an "equal weight" rating in a report on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $245.93.

About EPAM Systems

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.