KLP Kapitalforvaltning AS Purchases Shares of 19,400 EPAM Systems, Inc. (NYSE:EPAM)

KLP Kapitalforvaltning AS acquired a new stake in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 19,400 shares of the information technology services provider's stock, valued at approximately $4,536,000.

Several other large investors have also modified their holdings of EPAM. Aurora Investment Counsel increased its position in shares of EPAM Systems by 0.7% in the fourth quarter. Aurora Investment Counsel now owns 6,101 shares of the information technology services provider's stock worth $1,427,000 after acquiring an additional 45 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in EPAM Systems by 90.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider's stock worth $27,000 after purchasing an additional 54 shares during the period. SkyView Investment Advisors LLC grew its position in EPAM Systems by 3.0% during the 3rd quarter. SkyView Investment Advisors LLC now owns 2,055 shares of the information technology services provider's stock worth $409,000 after purchasing an additional 60 shares in the last quarter. Baker Tilly Wealth Management LLC raised its stake in EPAM Systems by 4.9% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 1,465 shares of the information technology services provider's stock valued at $343,000 after purchasing an additional 69 shares during the period. Finally, TD Private Client Wealth LLC lifted its holdings in shares of EPAM Systems by 88.5% in the fourth quarter. TD Private Client Wealth LLC now owns 147 shares of the information technology services provider's stock valued at $34,000 after purchasing an additional 69 shares in the last quarter. 91.58% of the stock is owned by institutional investors.

EPAM Systems Stock Performance

EPAM stock traded down $5.51 during midday trading on Friday, hitting $168.72. 634,017 shares of the company traded hands, compared to its average volume of 670,271. EPAM Systems, Inc. has a twelve month low of $167.00 and a twelve month high of $277.04. The stock has a market capitalization of $9.60 billion, a price-to-earnings ratio of 21.52, 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. The business has a 50 day simple moving average of $220.95 and a 200-day simple moving average of $220.62.

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 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 business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.21 billion. As a group, equities research analysts predict that EPAM Systems, Inc. will post 8.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

EPAM has been the topic of several recent analyst reports. Needham & Company LLC reissued a "buy" rating and set a $265.00 price target on shares of EPAM Systems in a research report on Thursday, February 20th. The Goldman Sachs Group upgraded EPAM Systems from a "neutral" rating to a "buy" rating and upped their target price for the company from $235.00 to $295.00 in a report on Friday, December 6th. Jefferies Financial Group decreased their price target on shares of EPAM Systems from $305.00 to $288.00 and set a "buy" rating for the company in a report on Tuesday, January 21st. Scotiabank dropped 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 research note on Monday, February 24th. Finally, StockNews.com lowered shares of EPAM Systems from a "buy" rating to a "hold" rating in a research note on Friday, February 21st. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, EPAM Systems presently has a consensus rating of "Moderate Buy" and an average target price of $262.47.

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 value of $277,046.00. Following the sale, the chief financial officer now directly owns 23,382 shares in the company, valued at approximately $6,009,174. This represents a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 4.30% of the stock is currently owned by corporate 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.