Renaissance Technologies LLC Boosts Stock Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Renaissance Technologies LLC grew its position in EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 2,483.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 222,200 shares of the information technology services provider's stock after acquiring an additional 213,600 shares during the quarter. Renaissance Technologies LLC owned about 0.39% of EPAM Systems worth $51,955,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in EPAM. EverSource Wealth Advisors LLC lifted its holdings in EPAM Systems by 90.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider's stock valued at $27,000 after buying an additional 54 shares in the last quarter. TD Private Client Wealth LLC boosted its holdings in shares of EPAM Systems by 88.5% in the fourth quarter. TD Private Client Wealth LLC now owns 147 shares of the information technology services provider's stock valued at $34,000 after purchasing an additional 69 shares during the period. Versant Capital Management Inc bought a new position in EPAM Systems in the fourth quarter worth approximately $35,000. Manchester Capital Management LLC increased its holdings in EPAM Systems by 590.0% during the 4th quarter. Manchester Capital Management LLC now owns 207 shares of the information technology services provider's stock worth $48,000 after purchasing an additional 177 shares during the period. Finally, Physician Wealth Advisors Inc. purchased a new position in EPAM Systems during the 4th quarter worth $49,000. Institutional investors own 91.58% of the company's stock.

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EPAM Systems Stock Performance

Shares of EPAM stock traded down $0.64 during mid-day trading on Tuesday, reaching $151.33. The stock had a trading volume of 216,011 shares, compared to its average volume of 693,032. EPAM Systems, Inc. has a 1-year low of $138.15 and a 1-year high of $269.00. The firm has a market cap of $8.64 billion, a price-to-earnings ratio of 19.30, a PEG ratio of 3.38 and a beta of 1.69. The company has a current ratio of 2.96, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01. The business's fifty day moving average is $196.30 and its 200-day moving average is $216.42.

EPAM Systems (NYSE:EPAM - Get Free Report) last posted its quarterly 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 business had revenue of $1.25 billion for the quarter, compared to analysts' expectations of $1.21 billion. EPAM Systems had a return on equity of 14.60% and a net margin of 9.61%. On average, research analysts forecast that EPAM Systems, Inc. will post 8.9 earnings per share for the current year.

Insider Activity

In related news, CFO Jason D. Peterson sold 1,078 shares of the stock in a transaction dated Monday, January 27th. The stock was 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 of the company's stock, valued at approximately $6,009,174. This represents a 4.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.30% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on EPAM shares. Barclays reduced their price target on shares of EPAM Systems from $290.00 to $270.00 and set an "overweight" rating for the company in a report on Monday, March 10th. StockNews.com lowered EPAM Systems from a "buy" rating to a "hold" rating in a report on Saturday. Morgan Stanley upped their price objective on EPAM Systems from $230.00 to $256.00 and gave the stock an "equal weight" rating in a research note on Friday, January 31st. Jefferies Financial Group cut their target price on EPAM Systems from $305.00 to $288.00 and set a "buy" rating on the stock in a research note on Tuesday, January 21st. Finally, Needham & Company LLC reissued a "buy" rating and set a $265.00 price target on shares of EPAM Systems in a research report on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $251.80.

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.