LPL Financial LLC Boosts Holdings in EPAM Systems, Inc. (NYSE:EPAM)

LPL Financial LLC increased its position in EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 31.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,107 shares of the information technology services provider's stock after acquiring an additional 7,711 shares during the period. LPL Financial LLC owned approximately 0.06% of EPAM Systems worth $7,507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. William Blair Investment Management LLC acquired a new position in shares of EPAM Systems in the fourth quarter valued at about $166,906,000. Teacher Retirement System of Texas acquired a new stake in EPAM Systems during the 4th quarter valued at approximately $86,699,000. Manning & Napier Advisors LLC lifted its stake in EPAM Systems by 48.8% during the 4th quarter. Manning & Napier Advisors LLC now owns 664,286 shares of the information technology services provider's stock valued at $155,323,000 after acquiring an additional 217,960 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of EPAM Systems in the 4th quarter valued at $27,916,000. Finally, KBC Group NV raised its holdings in shares of EPAM Systems by 399.1% during the fourth quarter. KBC Group NV now owns 116,350 shares of the information technology services provider's stock worth $27,205,000 after purchasing an additional 93,039 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company's stock.

EPAM Systems Price Performance

NYSE EPAM traded down $12.92 during mid-day trading on Thursday, hitting $146.08. The stock had a trading volume of 789,219 shares, compared to its average volume of 691,955. The firm's 50 day moving average is $200.57 and its 200 day moving average is $216.98. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.96 and a quick ratio of 4.56. The stock has a market capitalization of $8.34 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 3.38 and a beta of 1.69. EPAM Systems, Inc. has a twelve month low of $138.15 and a twelve month high of $269.55.

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EPAM Systems (NYSE:EPAM - Get Free Report) last issued its earnings results on Thursday, February 20th. The information technology services provider reported $2.23 EPS for the quarter, missing analysts' consensus estimates of $2.75 by ($0.52). The business 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%. Equities research analysts forecast that EPAM Systems, Inc. will post 8.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other EPAM Systems news, CFO Jason D. Peterson sold 1,078 shares of the company's stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 23,382 shares in the company, valued at $6,009,174. This represents a 4.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.30% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on EPAM shares. Barclays cut their price target on EPAM Systems from $290.00 to $270.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. Jefferies Financial Group cut their target price 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. StockNews.com raised shares of EPAM Systems from a "hold" rating to a "buy" rating in a report on Friday, April 4th. Needham & Company LLC reaffirmed a "buy" rating and issued a $265.00 price objective on shares of EPAM Systems in a report on Thursday, February 20th. Finally, Morgan Stanley lifted their price target on EPAM Systems from $230.00 to $256.00 and gave the company an "equal weight" rating in a research note on Friday, January 31st. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $257.31.

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.