Proficio Capital Partners LLC Purchases Shares of 16,134 EPAM Systems, Inc. (NYSE:EPAM)

Proficio Capital Partners LLC bought a new position 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 SEC. The institutional investor bought 16,134 shares of the information technology services provider's stock, valued at approximately $3,772,000.

A number of other large investors also recently modified their holdings of the business. Metis Global Partners LLC boosted its stake in shares of EPAM Systems by 2.5% during the 3rd quarter. Metis Global Partners LLC now owns 2,029 shares of the information technology services provider's stock worth $404,000 after buying an additional 50 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in shares of EPAM Systems by 21.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 325 shares of the information technology services provider's stock worth $65,000 after buying an additional 57 shares during the last quarter. SkyView Investment Advisors LLC boosted its stake in shares of 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 buying an additional 60 shares during the last quarter. Empirical Finance LLC boosted its stake in shares of EPAM Systems by 5.2% during the 3rd quarter. Empirical Finance LLC now owns 1,362 shares of the information technology services provider's stock worth $271,000 after buying an additional 67 shares during the last quarter. Finally, Covestor Ltd boosted its stake in shares of EPAM Systems by 16.4% during the 3rd quarter. Covestor Ltd now owns 490 shares of the information technology services provider's stock worth $98,000 after buying an additional 69 shares during the last quarter. 91.58% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

A number of equities analysts have recently commented on EPAM shares. Susquehanna increased their price objective on shares of EPAM Systems from $240.00 to $270.00 and gave the stock a "positive" rating in a research note on Friday, November 8th. Scotiabank cut their target price on shares of EPAM Systems from $275.00 to $250.00 and set a "sector outperform" rating for the company in a research note on Monday, February 24th. Barclays upgraded shares of EPAM Systems from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $250.00 to $290.00 in a research note on Tuesday, December 17th. 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 research note on Tuesday, January 21st. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $265.00 target price on shares of EPAM Systems in a research note on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, EPAM Systems has an average rating of "Moderate Buy" and a consensus price target of $268.44.

EPAM Systems Price Performance

NYSE:EPAM traded up $1.88 during mid-day trading on Friday, reaching $199.15. The stock had a trading volume of 510,711 shares, compared to its average volume of 678,166. The stock has a 50-day simple moving average of $236.45 and a two-hundred day simple moving average of $222.60. The stock has a market capitalization of $11.33 billion, a PE ratio of 25.40, a P/E/G ratio of 3.38 and a beta of 1.61. 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, Inc. has a 12 month low of $169.43 and a 12 month high of $317.50.

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 the consensus estimate of $1.21 billion. EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. On average, equities analysts anticipate that EPAM Systems, Inc. will post 8.9 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Jason D. Peterson sold 1,078 shares of EPAM Systems stock in a transaction 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 transaction, the chief financial officer now owns 23,382 shares in the company, valued at approximately $6,009,174. The trade was a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Viktar Dvorkin sold 6,758 shares of EPAM Systems stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $256.53, for a total transaction of $1,733,629.74. Following the transaction, the senior vice president now owns 13,000 shares in the company, valued at approximately $3,334,890. This trade represents a 34.20 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,300 shares of company stock valued at $2,129,924. 4.30% of the stock is currently owned by 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.