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

Raymond James Financial Inc. 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 13F filing with the Securities and Exchange Commission. The firm acquired 119,393 shares of the information technology services provider's stock, valued at approximately $27,916,000. Raymond James Financial Inc. owned approximately 0.21% of EPAM Systems as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. Farther Finance Advisors LLC lifted its holdings in EPAM Systems by 101.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 211 shares of the information technology services provider's stock worth $42,000 after buying an additional 106 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in EPAM Systems by 1.2% during the 3rd quarter. Principal Financial Group Inc. now owns 70,674 shares of the information technology services provider's stock worth $14,066,000 after buying an additional 848 shares during the last quarter. Atria Investments Inc lifted its holdings in EPAM Systems by 139.2% during the 3rd quarter. Atria Investments Inc now owns 4,048 shares of the information technology services provider's stock worth $806,000 after buying an additional 2,356 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in EPAM Systems by 45.2% during the 3rd quarter. Venturi Wealth Management LLC now owns 527 shares of the information technology services provider's stock worth $105,000 after buying an additional 164 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of EPAM Systems by 1.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 127,156 shares of the information technology services provider's stock worth $25,308,000 after purchasing an additional 2,372 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company's stock.

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Wall Street Analysts Forecast Growth

Several analysts recently issued reports on EPAM shares. StockNews.com downgraded EPAM Systems from a "buy" rating to a "hold" rating in a report on Friday, February 21st. Barclays cut their price target on EPAM Systems from $290.00 to $270.00 and set an "overweight" rating on the stock in a report on Monday, March 10th. Needham & Company LLC reissued a "buy" rating and issued a $265.00 price target on shares of EPAM Systems in a report on Thursday, February 20th. The Goldman Sachs Group raised EPAM Systems from a "neutral" rating to a "buy" rating and raised their price target for the stock from $235.00 to $295.00 in a report on Friday, December 6th. Finally, Morgan Stanley raised their price target on EPAM Systems from $230.00 to $256.00 and gave the stock an "equal weight" rating in a report on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, EPAM Systems currently has an average rating of "Moderate Buy" and an average target price of $267.33.

EPAM Systems Price Performance

Shares of EPAM stock traded down $3.36 during mid-day trading on Tuesday, hitting $182.86. 464,845 shares of the stock traded hands, compared to its average volume of 646,497. EPAM Systems, Inc. has a twelve month low of $169.43 and a twelve month high of $301.60. The firm has a market cap of $10.40 billion, a price-to-earnings ratio of 23.32, a price-to-earnings-growth ratio of 3.38 and a beta of 1.61. The company's 50-day simple moving average is $230.19 and its 200-day simple moving average is $222.38. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 2.96.

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 analysts' consensus estimates of $2.75 by ($0.52). The company had revenue of $1.25 billion during 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, equities research analysts expect that EPAM Systems, Inc. will post 8.9 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Jason D. Peterson sold 1,078 shares of EPAM Systems 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 transaction, the chief financial officer now directly owns 23,382 shares in the company, valued at $6,009,174. The trade was a 4.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 4.30% of the company's stock.

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.