California Public Employees Retirement System Sells 7,351 Shares of EPAM Systems, Inc. (NYSE:EPAM)

California Public Employees Retirement System lessened its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 7.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 87,694 shares of the information technology services provider's stock after selling 7,351 shares during the quarter. California Public Employees Retirement System owned approximately 0.15% of EPAM Systems worth $20,505,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of EPAM. EverSource Wealth Advisors LLC raised its holdings in shares of EPAM Systems by 90.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider's stock worth $27,000 after buying an additional 54 shares in the last quarter. TD Private Client Wealth LLC grew its stake in shares of EPAM Systems by 88.5% during the fourth quarter. TD Private Client Wealth LLC now owns 147 shares of the information technology services provider's stock worth $34,000 after buying an additional 69 shares during the last quarter. Versant Capital Management Inc acquired a new position in shares of EPAM Systems during the fourth quarter worth $35,000. Manchester Capital Management LLC lifted its stake in shares of EPAM Systems by 590.0% in the 4th quarter. Manchester Capital Management LLC now owns 207 shares of the information technology services provider's stock valued at $48,000 after acquiring an additional 177 shares during the last quarter. Finally, Continuum Advisory LLC boosted its holdings in shares of EPAM Systems by 5,240.0% during the 3rd quarter. Continuum Advisory LLC now owns 267 shares of the information technology services provider's stock valued at $53,000 after acquiring an additional 262 shares in the last quarter. Institutional investors own 91.58% of the company's stock.

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Analyst Upgrades and Downgrades

Several research firms have recently weighed in on EPAM. Jefferies Financial Group reduced their price target on EPAM Systems from $305.00 to $288.00 and set a "buy" rating on the stock in a report on Tuesday, January 21st. Morgan Stanley upped their price target on shares of EPAM Systems from $230.00 to $256.00 and gave the company an "equal weight" rating in a research report on Friday, January 31st. Barclays cut their price target on shares of EPAM Systems from $290.00 to $270.00 and set an "overweight" rating on the stock in a report on Monday, March 10th. Scotiabank lowered their target price on EPAM Systems from $275.00 to $250.00 and set a "sector outperform" rating for the company in a research report on Monday, February 24th. Finally, StockNews.com raised EPAM Systems from a "hold" rating to a "buy" rating in a report on Friday. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, EPAM Systems presently has a consensus rating of "Moderate Buy" and a consensus target price of $257.31.

Insiders Place Their Bets

In related news, CFO Jason D. Peterson sold 1,078 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 23,382 shares of the company's stock, valued at approximately $6,009,174. This trade represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 4.30% of the company's stock.

EPAM Systems Stock Up 2.3 %

Shares of NYSE EPAM traded up $3.29 during midday trading on Tuesday, hitting $148.24. 185,609 shares of the stock traded hands, compared to its average volume of 680,970. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 2.96. The business has a 50 day moving average price of $210.93 and a two-hundred day moving average price of $218.95. EPAM Systems, Inc. has a one year low of $138.15 and a one year high of $275.49. The company has a market cap of $8.46 billion, a PE ratio of 18.94, a P/E/G 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 earnings per share for the quarter, missing analysts' consensus estimates of $2.75 by ($0.52). EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.21 billion. On average, equities analysts predict that EPAM Systems, Inc. will post 8.9 EPS for the current year.

EPAM Systems Company 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.