Geode Capital Management LLC Has $314.62 Million Position in EPAM Systems, Inc. (NYSE:EPAM)

Geode Capital Management LLC lifted its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 2.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,349,088 shares of the information technology services provider's stock after purchasing an additional 37,119 shares during the quarter. Geode Capital Management LLC owned about 2.38% of EPAM Systems worth $314,616,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in EPAM. Norges Bank purchased a new position in shares of EPAM Systems in the 4th quarter worth $173,053,000. William Blair Investment Management LLC purchased a new position in EPAM Systems in the fourth quarter valued at approximately $166,906,000. Manning & Napier Advisors LLC lifted its position in EPAM Systems by 48.8% during the fourth quarter. Manning & Napier Advisors LLC now owns 664,286 shares of the information technology services provider's stock valued at $155,323,000 after buying an additional 217,960 shares in the last quarter. TD Asset Management Inc. increased its position in shares of EPAM Systems by 9.8% in the fourth quarter. TD Asset Management Inc. now owns 533,571 shares of the information technology services provider's stock worth $124,760,000 after acquiring an additional 47,659 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of EPAM Systems by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 522,144 shares of the information technology services provider's stock valued at $122,088,000 after acquiring an additional 6,793 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

EPAM has been the subject of several analyst reports. StockNews.com raised EPAM Systems from a "hold" rating to a "buy" rating in a research report on Friday, April 4th. Morgan Stanley upped their target price on shares of EPAM Systems from $230.00 to $256.00 and gave the company an "equal weight" rating in a research note on Friday, January 31st. Scotiabank cut their price objective on shares of EPAM Systems from $275.00 to $250.00 and set a "sector outperform" rating on the stock in a report on Monday, February 24th. Jefferies Financial Group dropped their target price on EPAM Systems from $305.00 to $288.00 and set a "buy" rating on the stock in a research report on Tuesday, January 21st. Finally, Barclays lowered their price objective on EPAM Systems from $290.00 to $270.00 and set an "overweight" rating for the company in a research note on Monday, March 10th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, EPAM Systems currently has an average rating of "Moderate Buy" and an average price target of $257.31.

Insider Activity at EPAM Systems

In other news, CFO Jason D. Peterson sold 1,078 shares of the firm'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 completion of the sale, the chief financial officer now directly owns 23,382 shares of the company's stock, valued at $6,009,174. This trade represents a 4.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 4.30% of the company's stock.

EPAM Systems Stock Performance

Shares of NYSE EPAM traded down $13.95 during midday trading on Thursday, reaching $145.05. 195,080 shares of the company traded hands, compared to its average volume of 720,856. The company has a market cap of $8.28 billion, a price-to-earnings ratio of 18.51, a PEG ratio of 3.38 and a beta of 1.69. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.96 and a quick ratio of 4.56. The stock has a 50-day moving average price of $202.78 and a 200 day moving average price of $217.36. EPAM Systems, Inc. has a 52 week low of $138.15 and a 52 week high of $269.55.

EPAM Systems (NYSE:EPAM - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $2.23 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $1.21 billion. Sell-side analysts anticipate that EPAM Systems, Inc. will post 8.9 earnings per share for the current fiscal 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.