Legal & General Group Plc Has $68.47 Million Stock Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Legal & General Group Plc lowered its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 33.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 292,835 shares of the information technology services provider's stock after selling 146,267 shares during the period. Legal & General Group Plc owned about 0.52% of EPAM Systems worth $68,471,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Geode Capital Management LLC grew its stake in EPAM Systems by 2.8% during the fourth 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 last quarter. Massachusetts Financial Services Co. MA grew its position in 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 acquiring an additional 401,355 shares during the last quarter. Norges Bank acquired a new stake in EPAM Systems during the 4th quarter valued at $173,053,000. William Blair Investment Management LLC acquired a new stake in EPAM Systems during the 4th quarter valued at $166,906,000. Finally, Manning & Napier Advisors LLC boosted its stake in EPAM Systems by 48.8% in 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 in the last quarter. Institutional investors and hedge funds own 91.58% of the company's stock.

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Analyst Ratings Changes

EPAM has been the subject of a number of research analyst reports. Jefferies Financial Group cut their price target on EPAM Systems from $305.00 to $288.00 and set a "buy" rating for the company in a report on Tuesday, January 21st. Barclays reduced their target price on shares of EPAM Systems from $290.00 to $270.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. Scotiabank lowered their price target on shares of EPAM Systems from $275.00 to $250.00 and set a "sector outperform" rating for the company in a report on Monday, February 24th. Needham & Company LLC reaffirmed a "buy" rating and set a $265.00 price objective on shares of EPAM Systems in a report on Thursday, February 20th. Finally, Morgan Stanley increased their price objective on EPAM Systems from $230.00 to $256.00 and gave the company an "equal weight" rating in a research report on Friday, January 31st. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $251.80.

Insider Activity

In other news, CFO Jason D. Peterson sold 1,078 shares of the firm's stock in a transaction that occurred on Monday, January 27th. The shares were 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 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 can be accessed through this hyperlink. 4.30% of the stock is currently owned by company insiders.

EPAM Systems Stock Performance

Shares of NYSE EPAM traded down $0.41 during midday trading on Tuesday, hitting $151.56. 628,174 shares of the company's stock were exchanged, compared to its average volume of 694,606. EPAM Systems, Inc. has a 12 month low of $138.15 and a 12 month high of $269.00. The company's 50 day moving average price is $194.04 and its 200 day moving average price is $215.97. The company has a quick ratio of 4.56, a current ratio of 2.96 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $8.65 billion, a PE ratio of 19.33, 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 firm 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%. As a group, analysts predict that EPAM Systems, Inc. will post 8.9 earnings per share for the current fiscal year.

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.