Proficio Capital Partners LLC Makes New Investment in EPAM Systems, Inc. (NYSE:EPAM)

Proficio Capital Partners LLC acquired a new stake 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 Securities and Exchange Commission. The institutional investor acquired 16,134 shares of the information technology services provider's stock, valued at approximately $3,772,000.

A number of other hedge funds have also modified their holdings of the stock. Metis Global Partners LLC increased its position in EPAM Systems by 2.5% during the third 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. raised its stake in shares of EPAM Systems by 21.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 325 shares of the information technology services provider's stock valued at $65,000 after acquiring an additional 57 shares in the last quarter. SkyView Investment Advisors LLC lifted its holdings in EPAM Systems by 3.0% in the 3rd quarter. SkyView Investment Advisors LLC now owns 2,055 shares of the information technology services provider's stock worth $409,000 after purchasing an additional 60 shares during the last quarter. Empirical Finance LLC boosted its position in EPAM Systems by 5.2% during the third quarter. Empirical Finance LLC now owns 1,362 shares of the information technology services provider's stock worth $271,000 after purchasing an additional 67 shares during the period. Finally, Baker Tilly Wealth Management LLC grew its holdings in EPAM Systems by 4.9% during the fourth quarter. Baker Tilly Wealth Management LLC now owns 1,465 shares of the information technology services provider's stock valued at $343,000 after purchasing an additional 69 shares during the last quarter. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Insiders Place Their Bets

In other news, CFO Jason D. Peterson sold 1,078 shares of the company's 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 transaction, the chief financial officer now directly owns 23,382 shares in the company, valued at approximately $6,009,174. This represents 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 this link. Insiders own 4.30% of the company's stock.

EPAM Systems Price Performance

EPAM Systems stock traded up $3.36 during mid-day trading on Friday, hitting $175.64. 1,280,322 shares of the company were exchanged, compared to its average volume of 656,272. EPAM Systems, Inc. has a 1-year low of $169.43 and a 1-year high of $288.13. The company has a quick ratio of 4.56, a current ratio of 2.96 and a debt-to-equity ratio of 0.01. The business has a fifty day moving average of $227.19 and a 200 day moving average of $221.62. The company has a market capitalization of $9.99 billion, a PE ratio of 22.40, a price-to-earnings-growth ratio of 3.38 and a beta of 1.61.

EPAM Systems (NYSE:EPAM - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $2.23 earnings per share 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 analyst estimates of $1.21 billion. EPAM Systems had a return on equity of 14.60% and a net margin of 9.61%. As a group, sell-side analysts expect that EPAM Systems, Inc. will post 8.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on EPAM. Needham & Company LLC reiterated a "buy" rating and issued a $265.00 target price on shares of EPAM Systems in a report on Thursday, February 20th. Jefferies Financial Group cut their price objective on EPAM Systems from $305.00 to $288.00 and set a "buy" rating for the company in a research report on Tuesday, January 21st. Scotiabank lowered their target price on EPAM Systems from $275.00 to $250.00 and set a "sector outperform" rating on the stock in a report on Monday, February 24th. Morgan Stanley increased their price objective on EPAM Systems from $230.00 to $256.00 and gave the company an "equal weight" rating in a research report on Friday, January 31st. Finally, Barclays dropped their target price on shares of EPAM Systems from $290.00 to $270.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, EPAM Systems has an average rating of "Moderate Buy" and a consensus price target of $262.47.

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.