Hillsdale Investment Management Inc. Acquires Shares of 3,070 EPAM Systems, Inc. (NYSE:EPAM)

Hillsdale Investment Management Inc. purchased a new position in EPAM Systems, Inc. (NYSE:EPAM - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 3,070 shares of the information technology services provider's stock, valued at approximately $718,000.

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

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Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Needham & Company LLC restated a "buy" rating and issued a $265.00 price objective on shares of EPAM Systems in a research report on Thursday, February 20th. Jefferies Financial Group reduced their target price on shares of EPAM Systems from $305.00 to $288.00 and set a "buy" rating on the stock in a report on Tuesday, January 21st. The Goldman Sachs Group upgraded shares of EPAM Systems from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $235.00 to $295.00 in a report on Friday, December 6th. Morgan Stanley upped their price objective 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. Finally, StockNews.com lowered shares of EPAM Systems from a "buy" rating to a "hold" rating in a research report on Friday, February 21st. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $262.47.

EPAM Systems Trading Down 1.6 %

EPAM Systems stock traded down $2.85 during midday trading on Thursday, reaching $174.08. The stock had a trading volume of 495,186 shares, compared to its average volume of 650,171. The stock's 50-day simple moving average is $223.26 and its 200 day simple moving average is $221.11. EPAM Systems, Inc. has a twelve month low of $169.43 and a twelve month high of $281.62. 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 stock has a market capitalization of $9.90 billion, a PE ratio of 22.20, a price-to-earnings-growth ratio of 3.38 and a beta of 1.61.

EPAM Systems (NYSE:EPAM - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $2.23 earnings per share 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%. Analysts expect that EPAM Systems, Inc. will post 8.9 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Jason D. Peterson sold 1,078 shares of the company's stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $257.00, for a total value of $277,046.00. Following the completion of the sale, the chief financial officer now owns 23,382 shares of the company's stock, valued at $6,009,174. This represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.30% of the stock is owned by insiders.

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.