Invesco Ltd. Sells 81,863 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Invesco Ltd. reduced its stake in EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 3.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,604,409 shares of the information technology services provider's stock after selling 81,863 shares during the period. Invesco Ltd. owned approximately 4.59% of EPAM Systems worth $608,963,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in EPAM. Public Sector Pension Investment Board lifted its position in shares of EPAM Systems by 4.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 2,326 shares of the information technology services provider's stock valued at $463,000 after acquiring an additional 100 shares during the period. HighTower Advisors LLC lifted its position in EPAM Systems by 10.5% during the third quarter. HighTower Advisors LLC now owns 18,458 shares of the information technology services provider's stock worth $3,684,000 after purchasing an additional 1,753 shares during the period. Janus Henderson Group PLC grew its stake in EPAM Systems by 1.3% during the third quarter. Janus Henderson Group PLC now owns 6,711 shares of the information technology services provider's stock worth $1,337,000 after buying an additional 85 shares in the last quarter. IHT Wealth Management LLC increased its holdings in EPAM Systems by 67.3% in the 3rd quarter. IHT Wealth Management LLC now owns 1,892 shares of the information technology services provider's stock valued at $375,000 after buying an additional 761 shares during the period. Finally, Royal London Asset Management Ltd. raised its position in shares of EPAM Systems by 4.2% in the 3rd quarter. Royal London Asset Management Ltd. now owns 22,732 shares of the information technology services provider's stock valued at $4,524,000 after buying an additional 922 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors.

Remove Ads

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Morgan Stanley lifted 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. StockNews.com cut EPAM Systems from a "buy" rating to a "hold" rating in a report on Saturday. Jefferies Financial Group reduced their price objective on EPAM Systems from $305.00 to $288.00 and set a "buy" rating on the stock in a research note on Tuesday, January 21st. Scotiabank decreased their target price on EPAM Systems from $275.00 to $250.00 and set a "sector outperform" rating on the stock in a research report on Monday, February 24th. Finally, Barclays dropped their target price on shares of EPAM Systems from $290.00 to $270.00 and set an "overweight" rating for the company in a report on Monday, March 10th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, EPAM Systems currently has an average rating of "Moderate Buy" and an average target price of $251.80.

Insider Activity at EPAM Systems

In other news, CFO Jason D. Peterson sold 1,078 shares of the company's stock in a transaction that occurred 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 transaction, the chief financial officer now directly 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 document filed with the Securities & Exchange Commission, which is available through this link. 4.30% of the stock is owned by corporate insiders.

EPAM Systems Trading Up 0.9 %

Shares of EPAM Systems stock traded up $1.25 during midday trading on Friday, reaching $147.54. The company had a trading volume of 465,049 shares, compared to its average volume of 694,700. The firm has a market cap of $8.42 billion, a PE ratio of 18.82, a P/E/G ratio of 3.38 and a beta of 1.69. The stock has a fifty day moving average price of $198.41 and a 200 day moving average price of $216.75. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.96 and a quick ratio of 4.56. EPAM Systems, Inc. has a fifty-two week low of $138.15 and a fifty-two week high of $269.00.

EPAM Systems (NYSE:EPAM - Get Free Report) last announced its earnings results on Thursday, February 20th. The information technology services provider reported $2.23 earnings per share for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $1.21 billion. On average, equities analysts anticipate that EPAM Systems, Inc. will post 8.9 earnings per share for the current year.

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.