Summit Global Investments lifted its stake in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 1,167.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 31,592 shares of the information technology services provider's stock after acquiring an additional 29,099 shares during the quarter. Summit Global Investments owned about 0.06% of EPAM Systems worth $7,387,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in EPAM. Centre Asset Management LLC bought a new position in EPAM Systems in the 4th quarter worth $8,757,000. Oliver Luxxe Assets LLC bought a new position in shares of EPAM Systems in the fourth quarter worth about $1,889,000. Pathstone Holdings LLC lifted its position in shares of EPAM Systems by 32.6% during the 3rd quarter. Pathstone Holdings LLC now owns 14,249 shares of the information technology services provider's stock worth $2,836,000 after purchasing an additional 3,507 shares during the last quarter. iA Global Asset Management Inc. boosted its position in shares of EPAM Systems by 165.2% in the third quarter. iA Global Asset Management Inc. now owns 3,700 shares of the information technology services provider's stock valued at $736,000 after acquiring an additional 2,305 shares during the period. Finally, Merit Financial Group LLC acquired a new stake in shares of EPAM Systems in the fourth quarter worth $245,000. Institutional investors and hedge funds own 91.58% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on EPAM. StockNews.com downgraded shares of EPAM Systems from a "buy" rating to a "hold" rating in a report on Friday, February 21st. Scotiabank reduced their target price on shares of EPAM Systems from $275.00 to $250.00 and set a "sector outperform" rating for the company in a research note on Monday, February 24th. Barclays lowered their price target on EPAM Systems from $290.00 to $270.00 and set an "overweight" rating on the stock in a research note on Monday, March 10th. Jefferies Financial Group reduced their price objective on EPAM Systems from $305.00 to $288.00 and set a "buy" rating for the company in a research report on Tuesday, January 21st. Finally, The Goldman Sachs Group raised EPAM Systems from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $235.00 to $295.00 in a report on Friday, December 6th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $262.47.
Read Our Latest Stock Analysis on EPAM
Insider Buying and Selling
In related news, CFO Jason D. Peterson sold 1,078 shares of the business's stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $257.00, for a total value of $277,046.00. Following the completion of the transaction, the chief financial officer now owns 23,382 shares in the company, valued at $6,009,174. The trade was a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 4.30% of the stock is owned by corporate insiders.
EPAM Systems Price Performance
Shares of NYSE EPAM traded down $2.15 during mid-day trading on Wednesday, hitting $176.84. 391,120 shares of the stock were exchanged, compared to its average volume of 650,333. The company has a market cap of $10.06 billion, a P/E ratio of 22.56, a PEG ratio of 3.38 and a beta of 1.61. 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, Inc. has a twelve month low of $169.43 and a twelve month high of $281.62. The stock's fifty day simple moving average is $224.30 and its two-hundred day simple moving average is $221.42.
EPAM Systems (NYSE:EPAM - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.21 billion. EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. As a group, analysts forecast that EPAM Systems, Inc. will post 8.9 EPS for the current fiscal year.
EPAM Systems Profile
(
Free Report)
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.
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