EPAM Systems, Inc. (NYSE:EPAM) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. cut its position in EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 9.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,435 shares of the information technology services provider's stock after selling 3,437 shares during the quarter. Prudential Financial Inc. owned 0.06% of EPAM Systems worth $7,617,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. William Blair Investment Management LLC bought a new position in shares of EPAM Systems during the fourth quarter worth about $166,906,000. Manning & Napier Advisors LLC increased 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 purchasing an additional 217,960 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in EPAM Systems by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 522,144 shares of the information technology services provider's stock worth $122,088,000 after buying an additional 6,793 shares during the last quarter. Teacher Retirement System of Texas bought a new position in shares of EPAM Systems in the fourth quarter valued at $86,699,000. Finally, Assenagon Asset Management S.A. grew its holdings in shares of EPAM Systems by 10.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 346,201 shares of the information technology services provider's stock valued at $80,949,000 after buying an additional 33,715 shares during the last quarter. 91.58% of the stock is owned by institutional investors and hedge funds.

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EPAM Systems Price Performance

NYSE EPAM traded down $15.61 on Thursday, reaching $153.45. The company had a trading volume of 149,841 shares, compared to its average volume of 670,416. The stock has a market capitalization of $8.73 billion, a PE ratio of 19.57, a price-to-earnings-growth ratio of 3.38 and a beta of 1.61. EPAM Systems, Inc. has a 12 month low of $152.97 and a 12 month high of $275.49. 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 firm's 50 day moving average price is $217.03 and its 200 day moving average price is $219.91.

EPAM Systems (NYSE:EPAM - Get Free Report) last released its quarterly earnings results 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 analysts' expectations of $1.21 billion. EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. As a group, equities analysts predict that EPAM Systems, Inc. will post 8.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Barclays decreased their price target on EPAM Systems from $290.00 to $270.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. StockNews.com cut shares of EPAM Systems from a "buy" rating to a "hold" rating in a research note on Friday, February 21st. Morgan Stanley boosted their target price on EPAM Systems from $230.00 to $256.00 and gave the stock an "equal weight" rating in a research report on Friday, January 31st. Scotiabank cut their price objective on EPAM Systems from $275.00 to $250.00 and set a "sector outperform" rating for the company in a report on Monday, February 24th. Finally, The Goldman Sachs Group upgraded shares of EPAM Systems from a "neutral" rating to a "buy" rating and lifted their target price for the company from $235.00 to $295.00 in a research report on Friday, December 6th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, EPAM Systems has a consensus rating of "Moderate Buy" and an average target price of $262.47.

Insiders Place Their Bets

In related news, CFO Jason D. Peterson sold 1,078 shares of the firm'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 trade represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.30% of the company's stock.

EPAM Systems Company 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.