EPAM Systems, Inc. (NYSE:EPAM) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its stake in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 21.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,079 shares of the information technology services provider's stock after selling 3,369 shares during the period. PNC Financial Services Group Inc.'s holdings in EPAM Systems were worth $2,824,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Metis Global Partners LLC lifted its position in EPAM Systems by 2.5% during the third quarter. Metis Global Partners LLC now owns 2,029 shares of the information technology services provider's stock valued at $404,000 after purchasing an additional 50 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in EPAM Systems by 21.3% during the third quarter. First Horizon Advisors Inc. now owns 325 shares of the information technology services provider's stock valued at $65,000 after acquiring an additional 57 shares during the period. SkyView Investment Advisors LLC raised its holdings in EPAM Systems by 3.0% during the third quarter. SkyView Investment Advisors LLC now owns 2,055 shares of the information technology services provider's stock valued at $409,000 after acquiring an additional 60 shares during the period. Empirical Finance LLC raised its holdings in EPAM Systems by 5.2% during the third quarter. Empirical Finance LLC now owns 1,362 shares of the information technology services provider's stock valued at $271,000 after acquiring an additional 67 shares during the period. Finally, Baker Tilly Wealth Management LLC raised its holdings in 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 valued at $343,000 after acquiring an additional 69 shares during the period. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

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EPAM Systems Trading Down 1.8 %

Shares of NYSE EPAM traded down $3.36 during trading hours on Tuesday, reaching $182.86. The stock had a trading volume of 464,845 shares, compared to its average volume of 646,497. The company has a current ratio of 2.96, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01. The firm has a market cap of $10.40 billion, a price-to-earnings ratio of 23.32, a P/E/G ratio of 3.38 and a beta of 1.61. The business's fifty day moving average price is $230.19 and its two-hundred day moving average price is $222.38. EPAM Systems, Inc. has a 52-week low of $169.43 and a 52-week high of $301.60.

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

Insiders Place Their Bets

In other news, CFO Jason D. Peterson sold 1,078 shares of the company's stock in a transaction on Monday, January 27th. The stock was sold at an average price of $257.00, for a total transaction of $277,046.00. Following the transaction, the chief financial officer now directly owns 23,382 shares of the company's stock, valued at approximately $6,009,174. This represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. The Goldman Sachs Group raised EPAM Systems from a "neutral" rating to a "buy" rating and raised their price target for the company from $235.00 to $295.00 in a report on Friday, December 6th. Scotiabank reduced their target price 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. Morgan Stanley lifted 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. Barclays reduced their target price on EPAM Systems from $290.00 to $270.00 and set an "overweight" rating on the stock in a report on Monday, March 10th. Finally, Jefferies Financial Group reduced their target price on EPAM Systems from $305.00 to $288.00 and set a "buy" rating on the stock in a report on Tuesday, January 21st. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $267.33.

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.