iA Global Asset Management Inc. Cuts Stock Position in EPAM Systems, Inc. (NYSE:EPAM)

iA Global Asset Management Inc. reduced its stake in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 41.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,159 shares of the information technology services provider's stock after selling 1,541 shares during the quarter. iA Global Asset Management Inc.'s holdings in EPAM Systems were worth $505,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Natixis Advisors LLC grew its stake in EPAM Systems by 14.1% in the third quarter. Natixis Advisors LLC now owns 25,627 shares of the information technology services provider's stock worth $5,101,000 after purchasing an additional 3,167 shares in the last quarter. Quest Partners LLC grew its holdings in EPAM Systems by 36.7% during the 3rd quarter. Quest Partners LLC now owns 645 shares of the information technology services provider's stock worth $128,000 after acquiring an additional 173 shares in the last quarter. Pathstone Holdings LLC increased its position in EPAM Systems by 32.6% during the 3rd quarter. Pathstone Holdings LLC now owns 14,249 shares of the information technology services provider's stock valued at $2,836,000 after purchasing an additional 3,507 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of EPAM Systems in the 3rd quarter valued at $291,000. Finally, PNC Financial Services Group Inc. raised its position in shares of EPAM Systems by 10.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 15,448 shares of the information technology services provider's stock worth $3,075,000 after acquiring an additional 1,414 shares in the last quarter. Institutional investors own 91.58% of the company's stock.

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Analyst Ratings Changes

A number of equities research analysts recently commented on EPAM shares. Needham & Company LLC reissued a "buy" rating and set a $265.00 target price on shares of EPAM Systems in a research report on Thursday, February 20th. Barclays dropped their price target on EPAM Systems from $290.00 to $270.00 and set an "overweight" rating on the stock in a research note on Monday, March 10th. 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 report on Tuesday, January 21st. The Goldman Sachs Group raised shares of EPAM Systems from a "neutral" rating to a "buy" rating and increased their target price for the stock from $235.00 to $295.00 in a research note on Friday, December 6th. Finally, Scotiabank dropped their price objective on EPAM Systems from $275.00 to $250.00 and set a "sector outperform" rating on the stock in a report on Monday, February 24th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $262.47.

EPAM Systems Stock Down 1.6 %

NYSE:EPAM traded down $2.85 during trading hours on Thursday, hitting $174.08. The company's stock had a trading volume of 495,186 shares, compared to its average volume of 650,171. The stock has a market capitalization of $9.90 billion, a P/E ratio of 22.20, a price-to-earnings-growth ratio of 3.38 and a beta of 1.61. The company has a current ratio of 2.96, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01. The stock has a fifty day moving average of $223.26 and a 200-day moving average of $221.11. EPAM Systems, Inc. has a 52-week low of $169.43 and a 52-week high of $281.62.

EPAM Systems (NYSE:EPAM - Get Free Report) last released its quarterly 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). EPAM Systems had a return on equity of 14.60% and a net margin of 9.61%. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.21 billion. On average, equities analysts forecast that EPAM Systems, Inc. will post 8.9 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Jason D. Peterson sold 1,078 shares of EPAM Systems 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 transaction, the chief financial officer now directly owns 23,382 shares of the company's stock, valued at approximately $6,009,174. The trade was a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 4.30% of the stock is currently owned by corporate insiders.

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.