Marshall Wace LLP boosted its stake in EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 126.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 769,584 shares of the information technology services provider's stock after purchasing an additional 429,644 shares during the quarter. Marshall Wace LLP owned about 1.36% of EPAM Systems worth $179,944,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in EPAM. Norges Bank acquired a new stake in shares of EPAM Systems in the 4th quarter worth about $173,053,000. William Blair Investment Management LLC bought a new position in shares of EPAM Systems in the fourth quarter valued at approximately $166,906,000. Massachusetts Financial Services Co. MA grew its holdings in EPAM Systems by 96.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 818,881 shares of the information technology services provider's stock worth $191,471,000 after buying an additional 401,355 shares in the last quarter. Teacher Retirement System of Texas bought a new position in shares of EPAM Systems during the 4th quarter worth approximately $86,699,000. Finally, Manning & Napier Advisors LLC grew its holdings in shares of EPAM Systems by 48.8% in the fourth 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 in the last quarter. 91.58% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In related news, CFO Jason D. Peterson sold 1,078 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were 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 of the company's stock, valued at approximately $6,009,174. This represents a 4.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 4.30% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on the company. Needham & Company LLC restated a "buy" rating and issued a $265.00 price objective on shares of EPAM Systems in a research note on Thursday, February 20th. StockNews.com lowered EPAM Systems from a "buy" rating to a "hold" rating in a report on Saturday, April 12th. Barclays reduced their target price on EPAM Systems from $290.00 to $270.00 and set an "overweight" rating for the company in a report on Monday, March 10th. Morgan Stanley increased their target price on shares of EPAM Systems from $230.00 to $256.00 and gave the stock an "equal weight" rating in a research note on Friday, January 31st. Finally, Scotiabank decreased 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. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $245.93.
Get Our Latest Analysis on EPAM Systems
EPAM Systems Stock Down 2.0 %
NYSE EPAM traded down $2.92 during trading hours on Monday, reaching $144.24. 76,317 shares of the company's stock traded hands, compared to its average volume of 698,109. 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 firm has a 50-day simple moving average of $187.18 and a 200 day simple moving average of $215.06. EPAM Systems, Inc. has a 52-week low of $138.15 and a 52-week high of $269.00. The firm has a market cap of $8.23 billion, a PE ratio of 18.40, a PEG ratio of 3.38 and a beta of 1.69.
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 EPS for the quarter, missing the consensus estimate of $2.75 by ($0.52). The firm had revenue of $1.25 billion for the quarter, compared to analysts' expectations of $1.21 billion. EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. Sell-side analysts anticipate that EPAM Systems, Inc. will post 8.9 EPS for the current fiscal year.
About EPAM Systems
(
Free Report)
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.
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