Korea Investment CORP Grows Position in EPAM Systems, Inc. (NYSE:EPAM)

Korea Investment CORP increased its stake in EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 50.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 65,200 shares of the information technology services provider's stock after buying an additional 21,807 shares during the period. Korea Investment CORP owned 0.11% of EPAM Systems worth $15,245,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC grew its stake 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 worth $27,000 after acquiring an additional 54 shares during the last quarter. TD Private Client Wealth LLC boosted 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 worth $34,000 after purchasing an additional 69 shares in the last quarter. Versant Capital Management Inc purchased a new stake in EPAM Systems during the 4th quarter valued at about $35,000. Manchester Capital Management LLC increased its stake 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 purchasing an additional 177 shares in the last quarter. Finally, Continuum Advisory LLC raised its holdings in EPAM Systems by 5,240.0% in 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 during the last quarter. Institutional investors own 91.58% of the company's stock.

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Insider Buying and Selling

In other news, CFO Jason D. Peterson sold 1,078 shares of EPAM Systems stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $257.00, for a total transaction of $277,046.00. Following the sale, the chief financial officer now owns 23,382 shares in the company, valued at $6,009,174. This trade represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 4.30% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on EPAM shares. Barclays reduced their price target on shares of EPAM Systems from $290.00 to $270.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. Needham & Company LLC restated a "buy" rating and issued a $265.00 price target on shares of EPAM Systems in a research note on Thursday, February 20th. Morgan Stanley upped their price target on EPAM Systems from $230.00 to $256.00 and gave the company an "equal weight" rating in a report on Friday, January 31st. Jefferies Financial Group reduced their price objective on EPAM Systems from $305.00 to $288.00 and set a "buy" rating for the company in a report on Tuesday, January 21st. Finally, Scotiabank dropped their price target 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. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, EPAM Systems has a consensus rating of "Moderate Buy" and an average target price of $262.47.

EPAM Systems Stock Performance

Shares of NYSE:EPAM traded down $11.22 during mid-day trading on Thursday, reaching $157.84. 477,145 shares of the company traded hands, compared to its average volume of 671,675. The company's 50 day moving average price is $217.03 and its 200-day moving average price is $219.91. The firm has a market cap of $8.98 billion, a PE ratio of 20.13, a PEG ratio of 3.38 and a beta of 1.61. EPAM Systems, Inc. has a 52 week low of $152.82 and a 52 week high of $275.49. 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 (NYSE:EPAM - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $2.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.75 by ($0.52). The firm had revenue of $1.25 billion during the quarter, compared to analysts' expectations of $1.21 billion. EPAM Systems had a return on equity of 14.60% and a net margin of 9.61%. On average, equities analysts expect that EPAM Systems, Inc. will post 8.9 EPS for the current fiscal year.

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.