Rhumbline Advisers Decreases Stock Position in EPAM Systems, Inc. (NYSE:EPAM)

Rhumbline Advisers lowered its stake in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 98,639 shares of the information technology services provider's stock after selling 2,788 shares during the quarter. Rhumbline Advisers owned approximately 0.17% of EPAM Systems worth $23,064,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vontobel Holding Ltd. acquired a new stake in EPAM Systems during the fourth quarter worth approximately $499,000. Allspring Global Investments Holdings LLC grew its position in shares of EPAM Systems by 144.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 46,755 shares of the information technology services provider's stock worth $10,714,000 after acquiring an additional 27,627 shares during the last quarter. Summit Trail Advisors LLC grew its position in shares of EPAM Systems by 55.7% during the fourth quarter. Summit Trail Advisors LLC now owns 1,794 shares of the information technology services provider's stock worth $419,000 after acquiring an additional 642 shares during the last quarter. Bristlecone Advisors LLC grew its position in shares of EPAM Systems by 75.6% during the fourth quarter. Bristlecone Advisors LLC now owns 6,247 shares of the information technology services provider's stock worth $1,461,000 after acquiring an additional 2,690 shares during the last quarter. Finally, Entropy Technologies LP grew its position in shares of EPAM Systems by 374.9% during the fourth quarter. Entropy Technologies LP now owns 6,179 shares of the information technology services provider's stock worth $1,445,000 after acquiring an additional 4,878 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company's stock.

EPAM Systems Price Performance

Shares of NYSE:EPAM traded down $16.09 during midday trading on Friday, hitting $208.98. 1,694,396 shares of the stock were exchanged, compared to its average volume of 603,753. The company has a 50 day moving average price of $244.27 and a 200-day moving average price of $222.18. EPAM Systems, Inc. has a twelve month low of $169.43 and a twelve month high of $317.50. The stock has a market cap of $11.85 billion, a P/E ratio of 27.14, a PEG ratio of 3.88 and a beta of 1.51. The company has a current ratio of 4.56, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAM - Get Free Report) last announced its 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). EPAM Systems had a net margin of 9.68% and a return on equity of 14.92%. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.21 billion. On average, research analysts forecast that EPAM Systems, Inc. will post 8.59 earnings per share for the current year.

Insider Activity at EPAM Systems

In other news, SVP Viktar Dvorkin sold 6,758 shares of the company's stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $256.53, for a total transaction of $1,733,629.74. Following the completion of the transaction, the senior vice president now owns 13,000 shares of the company's stock, valued at $3,334,890. This represents a 34.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jason D. Peterson sold 1,078 shares of the company's stock in a transaction dated 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 of the company's stock, valued at approximately $6,009,174. This represents a 4.41 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,300 shares of company stock valued at $2,129,924. 4.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on EPAM shares. The Goldman Sachs Group upgraded shares of EPAM Systems from a "neutral" rating to a "buy" rating and raised their target price for the stock from $235.00 to $295.00 in a research report on Friday, December 6th. Scotiabank upgraded shares of EPAM Systems from a "sector perform" rating to a "sector outperform" rating and raised their target price for the stock from $245.00 to $275.00 in a research report on Monday, November 11th. Needham & Company LLC restated a "buy" rating and set a $265.00 target price on shares of EPAM Systems in a research report on Thursday. Jefferies Financial Group lowered their target price on shares of EPAM Systems from $305.00 to $288.00 and set a "buy" rating on the stock in a research report on Tuesday, January 21st. Finally, Susquehanna lifted their price objective on shares of EPAM Systems from $240.00 to $270.00 and gave the company a "positive" rating in a research report on Friday, November 8th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, EPAM Systems has an average rating of "Moderate Buy" and a consensus price target of $269.83.

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.