Raymond James Financial Inc. Makes New $27.92 Million Investment in EPAM Systems, Inc. (NYSE:EPAM)

Raymond James Financial Inc. bought a new stake in EPAM Systems, Inc. (NYSE:EPAM - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 119,393 shares of the information technology services provider's stock, valued at approximately $27,916,000. Raymond James Financial Inc. owned about 0.21% of EPAM Systems at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Martingale Asset Management L P bought a new stake in EPAM Systems during the 4th quarter valued at $217,000. APG Asset Management N.V. raised its stake in shares of EPAM Systems by 1,117.9% during the fourth quarter. APG Asset Management N.V. now owns 33,334 shares of the information technology services provider's stock valued at $7,527,000 after acquiring an additional 30,597 shares during the last quarter. Advisory Services Network LLC raised its stake in shares of EPAM Systems by 415.6% during the fourth quarter. Advisory Services Network LLC now owns 2,284 shares of the information technology services provider's stock valued at $534,000 after acquiring an additional 1,841 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of EPAM Systems by 2,483.7% during the fourth quarter. Renaissance Technologies LLC now owns 222,200 shares of the information technology services provider's stock worth $51,955,000 after purchasing an additional 213,600 shares during the period. Finally, Bank of Nova Scotia increased its holdings in EPAM Systems by 325.4% during the 4th quarter. Bank of Nova Scotia now owns 31,214 shares of the information technology services provider's stock valued at $7,298,000 after purchasing an additional 23,876 shares during the period. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on EPAM. Piper Sandler lowered EPAM Systems from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $251.00 to $170.00 in a research report on Wednesday, April 16th. Susquehanna reduced their price objective on shares of EPAM Systems from $270.00 to $210.00 and set a "positive" rating on the stock in a research report on Wednesday. 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, February 20th. StockNews.com cut shares of EPAM Systems from a "buy" rating to a "hold" rating in a research report on Saturday, April 12th. Finally, Scotiabank lowered their price objective on shares of EPAM Systems from $275.00 to $250.00 and set a "sector outperform" rating for the company in a report on Monday, February 24th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $241.93.

EPAM Systems Stock Up 6.2 %

EPAM Systems stock traded up $9.10 during mid-day trading on Wednesday, reaching $156.49. The stock had a trading volume of 143,868 shares, compared to its average volume of 698,035. EPAM Systems, Inc. has a one year low of $138.15 and a one year high of $269.00. The company has a 50-day moving average price of $182.38 and a two-hundred day moving average price of $214.23. The company has a market capitalization of $8.93 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 3.38 and a beta of 1.69. 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 (NYSE:EPAM - Get Free Report) last issued its earnings results on Thursday, February 20th. The information technology services provider reported $2.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.75 by ($0.52). EPAM Systems had a return on equity of 14.60% and a net margin of 9.61%. The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.21 billion. On average, analysts expect that EPAM Systems, Inc. will post 8.9 EPS for the current fiscal year.

Insider Activity at EPAM Systems

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 transaction of $277,046.00. Following the transaction, the chief financial officer now owns 23,382 shares in the company, valued at $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 available at the SEC website. 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.