State of Alaska Department of Revenue Cuts Position in EPAM Systems, Inc. (NYSE:EPAM)

State of Alaska Department of Revenue lessened its stake in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 35.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,470 shares of the information technology services provider's stock after selling 3,521 shares during the quarter. State of Alaska Department of Revenue's holdings in EPAM Systems were worth $1,512,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Metis Global Partners LLC raised its position in EPAM Systems by 2.5% in the third quarter. Metis Global Partners LLC now owns 2,029 shares of the information technology services provider's stock worth $404,000 after acquiring an additional 50 shares in the last quarter. First Horizon Advisors Inc. raised its position in EPAM Systems by 21.3% in the third quarter. First Horizon Advisors Inc. now owns 325 shares of the information technology services provider's stock worth $65,000 after acquiring an additional 57 shares in the last quarter. SkyView Investment Advisors LLC raised its position in EPAM Systems by 3.0% in the third quarter. SkyView Investment Advisors LLC now owns 2,055 shares of the information technology services provider's stock worth $409,000 after acquiring an additional 60 shares in the last quarter. V Square Quantitative Management LLC raised its position in EPAM Systems by 4.3% in the third quarter. V Square Quantitative Management LLC now owns 1,562 shares of the information technology services provider's stock worth $311,000 after acquiring an additional 65 shares in the last quarter. Finally, Empirical Finance LLC raised its position in EPAM Systems by 5.2% in the third quarter. Empirical Finance LLC now owns 1,362 shares of the information technology services provider's stock worth $271,000 after acquiring an additional 67 shares in the last quarter. Hedge funds and other institutional investors own 91.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on EPAM shares. Jefferies Financial Group lowered their target price on EPAM Systems from $305.00 to $288.00 and set a "buy" rating on the stock in a report on Tuesday, January 21st. Citigroup upped their target price on EPAM Systems from $207.00 to $210.00 and gave the company a "neutral" rating in a report on Monday, October 28th. Barclays raised EPAM Systems from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $250.00 to $290.00 in a report on Tuesday, December 17th. StockNews.com raised EPAM Systems from a "hold" rating to a "buy" rating in a report on Friday, November 15th. Finally, The Goldman Sachs Group raised EPAM Systems from a "neutral" rating to a "buy" rating and upped their target price for the company from $235.00 to $295.00 in a report on Friday, December 6th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $269.83.

EPAM Systems Trading Down 0.5 %

NYSE EPAM traded down $1.42 during trading hours on Friday, hitting $266.21. 387,209 shares of the company's stock were exchanged, compared to its average volume of 511,176. The business's 50 day moving average is $244.09 and its 200-day moving average is $221.18. EPAM Systems, Inc. has a 12-month low of $169.43 and a 12-month high of $317.50. The firm has a market capitalization of $15.10 billion, a P/E ratio of 34.57, a price-to-earnings-growth ratio of 3.96 and a beta of 1.51. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 4.56.

Insider Buying and Selling

In other news, SVP Viktar Dvorkin sold 6,758 shares of the firm's stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $256.53, for a total value of $1,733,629.74. Following the transaction, the senior vice president now directly owns 13,000 shares in the company, valued at $3,334,890. This trade represents a 34.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Jason D. Peterson sold 464 shares of the firm's stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $257.00, for a total value of $119,248.00. Following the completion of the transaction, the chief financial officer now owns 24,372 shares in the company, valued at approximately $6,263,604. This trade represents a 1.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,300 shares of company stock worth $2,129,924. 4.30% of the stock is owned by company insiders.

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.