Geneva Capital Management LLC Sells 4,956 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Geneva Capital Management LLC trimmed its stake in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 7.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,325 shares of the information technology services provider's stock after selling 4,956 shares during the period. Geneva Capital Management LLC owned about 0.12% of EPAM Systems worth $15,508,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Centre Asset Management LLC acquired a new position in EPAM Systems during the 4th quarter worth approximately $8,757,000. Oppenheimer Asset Management Inc. bought a new stake in shares of EPAM Systems in the third quarter worth $8,195,000. Oliver Luxxe Assets LLC acquired a new position in EPAM Systems during the fourth quarter worth $1,889,000. Victory Capital Management Inc. grew its position in EPAM Systems by 247.6% in the third quarter. Victory Capital Management Inc. now owns 72,447 shares of the information technology services provider's stock valued at $14,419,000 after purchasing an additional 51,603 shares in the last quarter. Finally, MAI Capital Management increased its stake in EPAM Systems by 10.3% in the 3rd quarter. MAI Capital Management now owns 40,126 shares of the information technology services provider's stock valued at $7,986,000 after buying an additional 3,750 shares during the last quarter. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Viktar Dvorkin sold 6,758 shares of the company's stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $256.53, for a total transaction of $1,733,629.74. Following the completion of the sale, the senior vice president now owns 13,000 shares of the company's stock, valued at $3,334,890. This represents a 34.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Jason D. Peterson sold 1,078 shares of the 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 sale, the chief financial officer now owns 23,382 shares in the company, valued at $6,009,174. The trade was a 4.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,300 shares of company stock worth $2,129,924 in the last quarter. Corporate insiders own 4.30% of the company's stock.

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Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Jefferies Financial Group reduced their price objective on shares of EPAM Systems from $305.00 to $288.00 and set a "buy" rating for the company in a research note on Tuesday, January 21st. Scotiabank reduced their price target 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. Mizuho boosted their price target on EPAM Systems from $245.00 to $282.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 13th. StockNews.com downgraded EPAM Systems from a "buy" rating to a "hold" rating in a report on Friday, February 21st. Finally, Needham & Company LLC reissued a "buy" rating and issued a $265.00 target price on shares of EPAM Systems in a research note on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, EPAM Systems presently has an average rating of "Moderate Buy" and a consensus target price of $267.33.

EPAM Systems Stock Performance

Shares of EPAM Systems stock traded down $8.30 on Monday, hitting $190.50. The stock had a trading volume of 790,633 shares, compared to its average volume of 680,665. The stock has a market cap of $10.84 billion, a price-to-earnings ratio of 24.30, a price-to-earnings-growth ratio of 3.38 and a beta of 1.61. The company has a quick ratio of 4.56, a current ratio of 2.96 and a debt-to-equity ratio of 0.01. EPAM Systems, Inc. has a twelve month low of $169.43 and a twelve month high of $309.48. The business's 50 day moving average is $235.66 and its two-hundred day moving average is $222.89.

EPAM Systems (NYSE:EPAM - Get Free Report) last issued 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). EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.21 billion. Analysts forecast that EPAM Systems, Inc. will post 8.9 EPS for the current 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.