Teacher Retirement System of Texas Invests $86.70 Million in EPAM Systems, Inc. (NYSE:EPAM)

Teacher Retirement System of Texas acquired a new position in EPAM Systems, Inc. (NYSE:EPAM - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 370,793 shares of the information technology services provider's stock, valued at approximately $86,699,000. Teacher Retirement System of Texas owned 0.65% of EPAM Systems at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its holdings in shares of EPAM Systems by 90.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider's stock valued at $27,000 after acquiring an additional 54 shares during the period. Versant Capital Management Inc purchased a new position in EPAM Systems in the fourth quarter valued at about $35,000. Manchester Capital Management LLC raised its holdings in EPAM Systems by 590.0% in the fourth 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 in the last quarter. Continuum Advisory LLC lifted its position in shares of EPAM Systems by 5,240.0% during the third quarter. Continuum Advisory LLC now owns 267 shares of the information technology services provider's stock valued at $53,000 after buying an additional 262 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its position in shares of EPAM Systems by 21.3% during the third quarter. First Horizon Advisors Inc. now owns 325 shares of the information technology services provider's stock valued at $65,000 after buying an additional 57 shares during the last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

EPAM has been the subject of several recent analyst reports. Barclays reduced their price objective on shares of EPAM Systems from $290.00 to $270.00 and set an "overweight" rating for the company in a research note on Monday, March 10th. Morgan Stanley increased their price objective on EPAM Systems from $230.00 to $256.00 and gave the company an "equal weight" rating in a report on Friday, January 31st. StockNews.com cut EPAM Systems from a "buy" rating to a "hold" rating in a research report on Friday, February 21st. 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 research report on Friday, December 6th. Finally, Scotiabank lowered their price target on EPAM Systems from $275.00 to $250.00 and set a "sector outperform" rating for the company in a report on Monday, February 24th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, EPAM Systems has a consensus rating of "Moderate Buy" and an average target price of $262.47.

Insider Buying and Selling at EPAM Systems

In related news, CFO Jason D. Peterson sold 1,078 shares of the firm's stock in a transaction dated Monday, January 27th. The shares were 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 of the company's stock, valued at approximately $6,009,174. This trade represents a 4.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.30% of the stock is owned by corporate insiders.

EPAM Systems Stock Performance

EPAM traded up $3.28 during midday trading on Monday, hitting $178.58. 580,517 shares of the company were exchanged, compared to its average volume of 652,348. The company's 50 day simple moving average is $226.19 and its 200 day simple moving average is $221.78. The firm has a market capitalization of $10.16 billion, a price-to-earnings ratio of 22.78, a price-to-earnings-growth ratio of 3.38 and a beta of 1.61. EPAM Systems, Inc. has a 1-year low of $169.43 and a 1-year high of $281.62. The company has a current ratio of 2.96, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAM - Get Free Report) last posted 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 9.61% and a return on equity of 14.60%. The firm had revenue of $1.25 billion for the quarter, compared to analysts' expectations of $1.21 billion. As a group, sell-side analysts predict that EPAM Systems, Inc. will post 8.9 earnings per share for the current year.

About EPAM Systems

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.