EPAM Systems, Inc. (NYSE:EPAM) Stock Position Lessened by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its position in EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 6.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 54,367 shares of the information technology services provider's stock after selling 3,955 shares during the period. New York State Teachers Retirement System owned approximately 0.10% of EPAM Systems worth $12,712,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vontobel Holding Ltd. purchased a new stake in EPAM Systems in the 4th quarter valued at approximately $499,000. Allspring Global Investments Holdings LLC increased its position in shares of EPAM Systems by 144.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 46,755 shares of the information technology services provider's stock valued at $10,714,000 after buying an additional 27,627 shares in the last quarter. Summit Trail Advisors LLC boosted its position in shares of EPAM Systems by 55.7% in the 4th quarter. Summit Trail Advisors LLC now owns 1,794 shares of the information technology services provider's stock worth $419,000 after buying an additional 642 shares in the last quarter. Bristlecone Advisors LLC increased its holdings in EPAM Systems by 75.6% during the 4th quarter. Bristlecone Advisors LLC now owns 6,247 shares of the information technology services provider's stock valued at $1,461,000 after acquiring an additional 2,690 shares in the last quarter. Finally, Entropy Technologies LP grew its position in shares of EPAM Systems by 374.9% in the fourth quarter. Entropy Technologies LP now owns 6,179 shares of the information technology services provider's stock valued at $1,445,000 after purchasing an additional 4,878 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company's stock.

EPAM Systems Stock Down 7.2 %

NYSE EPAM traded down $16.09 during mid-day trading on Friday, reaching $208.98. 1,694,396 shares of the company's stock traded hands, compared to its average volume of 603,753. The company has a fifty day simple moving average of $243.56 and a 200-day simple moving average of $222.23. EPAM Systems, Inc. has a 1-year low of $169.43 and a 1-year high of $317.50. The company has a market cap of $11.85 billion, a price-to-earnings ratio of 27.14, a P/E/G ratio of 3.88 and a beta of 1.51. The company has a current ratio of 4.56, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAM - Get Free Report) last issued its quarterly earnings results 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). EPAM Systems had a return on equity of 14.92% and a net margin of 9.68%. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.21 billion. As a group, equities research analysts expect that EPAM Systems, Inc. will post 8.59 EPS for the current year.

Insider Buying and Selling

In other news, SVP Viktar Dvorkin sold 6,758 shares of the firm's stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $256.53, for a total value of $1,733,629.74. Following the transaction, the senior vice president now directly owns 13,000 shares in the company, valued at approximately $3,334,890. This trade represents a 34.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Jason D. Peterson sold 1,078 shares of the business's stock in a transaction dated 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 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 disclosure for this sale can be found here. Over the last three months, insiders sold 8,300 shares of company stock worth $2,129,924. Corporate insiders own 4.30% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on EPAM. Barclays raised EPAM Systems from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $250.00 to $290.00 in a research report on Tuesday, December 17th. Jefferies Financial Group reduced their target price on shares of EPAM Systems from $305.00 to $288.00 and set a "buy" rating on the stock in a report on Tuesday, January 21st. Citigroup lifted their price target on shares of EPAM Systems from $207.00 to $210.00 and gave the stock a "neutral" rating in a report on Monday, October 28th. Scotiabank raised EPAM Systems from a "sector perform" rating to a "sector outperform" rating and raised their price target for the stock from $245.00 to $275.00 in a research note on Monday, November 11th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $265.00 target price on shares of EPAM Systems in a research report on Thursday. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $269.83.

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.