Franklin Resources Inc. Has $46.57 Million Stake in EPAM Systems, Inc. (NYSE:EPAM)

Franklin Resources Inc. trimmed its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 11.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 235,198 shares of the information technology services provider's stock after selling 30,757 shares during the period. Franklin Resources Inc. owned 0.41% of EPAM Systems worth $46,569,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in EPAM. Livforsakringsbolaget Skandia Omsesidigt grew its position in EPAM Systems by 181.8% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 155 shares of the information technology services provider's stock valued at $31,000 after acquiring an additional 100 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of EPAM Systems by 101.0% in the third quarter. Farther Finance Advisors LLC now owns 211 shares of the information technology services provider's stock valued at $42,000 after purchasing an additional 106 shares during the period. Capital Performance Advisors LLP acquired a new stake in EPAM Systems during the 3rd quarter valued at $44,000. Sentry Investment Management LLC purchased a new stake in EPAM Systems during the 3rd quarter worth $52,000. Finally, Continuum Advisory LLC increased its stake in 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 worth $53,000 after buying an additional 262 shares during the period. 91.58% of the stock is currently owned by institutional investors and hedge funds.

EPAM Systems Price Performance

EPAM stock traded down $8.81 during trading on Wednesday, hitting $239.11. The company had a trading volume of 702,137 shares, compared to its average volume of 635,402. The business has a 50 day moving average of $223.69 and a 200 day moving average of $205.14. The firm has a market capitalization of $13.56 billion, a price-to-earnings ratio of 31.05, a P/E/G ratio of 3.87 and a beta of 1.49. EPAM Systems, Inc. has a fifty-two week low of $169.43 and a fifty-two week high of $317.50. The company has a current ratio of 4.56, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01.

Insider Activity at EPAM Systems

In other EPAM Systems news, SVP Viktar Dvorkin sold 6,758 shares of the company's stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $256.53, for a total value of $1,733,629.74. Following the transaction, the senior vice president now owns 13,000 shares of the company's stock, valued at approximately $3,334,890. This represents a 34.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jason D. Peterson sold 464 shares of the firm's stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $257.00, for a total value of $119,248.00. Following the sale, the chief financial officer now directly owns 24,372 shares of the company's stock, valued at approximately $6,263,604. This represents a 1.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,222 shares of company stock worth $2,089,878 over the last quarter. 4.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on EPAM shares. Needham & Company LLC raised their target price on EPAM Systems from $215.00 to $265.00 and gave the company a "buy" rating in a research note on Friday, November 8th. Jefferies Financial Group raised their price objective on EPAM Systems from $237.00 to $250.00 and gave the company a "buy" rating in a research note on Monday, September 9th. The Goldman Sachs Group raised EPAM Systems from a "neutral" rating to a "buy" rating and upped their target price for the company from $235.00 to $295.00 in a research report on Friday, December 6th. JPMorgan Chase & Co. raised their price target on shares of EPAM Systems from $222.00 to $262.00 and gave the stock an "overweight" rating in a research report on Friday, September 6th. Finally, Citigroup lifted their price target on shares of EPAM Systems from $207.00 to $210.00 and gave the stock a "neutral" rating in a research note on Monday, October 28th. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $272.20.

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.