EPAM Systems, Inc. (NYSE:EPAM) Shares Sold by Truist Financial Corp

Truist Financial Corp cut its position in EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 66.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 888 shares of the information technology services provider's stock after selling 1,769 shares during the period. Truist Financial Corp's holdings in EPAM Systems were worth $208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. CIBC Asset Management Inc lifted its stake in EPAM Systems by 4.2% in the 4th quarter. CIBC Asset Management Inc now owns 8,675 shares of the information technology services provider's stock worth $2,028,000 after purchasing an additional 348 shares in the last quarter. Ifrah Financial Services Inc. acquired a new stake in shares of EPAM Systems in the fourth quarter valued at approximately $216,000. Financiere des Professionnels Fonds d investissement inc. purchased a new position in EPAM Systems during the fourth quarter worth approximately $453,000. Manchester Capital Management LLC boosted its stake in EPAM Systems by 590.0% during the fourth quarter. Manchester Capital Management LLC now owns 207 shares of the information technology services provider's stock worth $48,000 after buying an additional 177 shares during the last quarter. Finally, Vontobel Holding Ltd. acquired a new position in EPAM Systems during the fourth quarter worth $499,000. 91.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EPAM has been the topic of several analyst reports. Morgan Stanley lifted their price target on EPAM Systems from $230.00 to $256.00 and gave the stock an "equal weight" rating in a report on Friday, January 31st. Jefferies Financial Group reduced 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 note on Tuesday, January 21st. StockNews.com lowered 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 raised their target price for the stock from $235.00 to $295.00 in a research note on Friday, December 6th. Finally, Scotiabank cut their price objective on EPAM Systems from $275.00 to $250.00 and set a "sector outperform" rating for the company in a research report on Monday, February 24th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $267.33.

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Insider Activity

In other news, CFO Jason D. Peterson sold 1,078 shares of the business's stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $257.00, for a total value of $277,046.00. Following the completion of the sale, the chief financial officer now directly owns 23,382 shares of the company's stock, valued at approximately $6,009,174. The trade was a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Viktar Dvorkin sold 6,758 shares of the firm's stock in a transaction that occurred on 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 owns 13,000 shares in the company, valued at $3,334,890. This represents a 34.20 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,300 shares of company stock worth $2,129,924. 4.30% of the stock is currently owned by insiders.

EPAM Systems Stock Down 4.2 %

Shares of EPAM Systems stock traded down $8.30 on Monday, reaching $190.50. 790,628 shares of the company were exchanged, compared to its average volume of 680,664. EPAM Systems, Inc. has a 1-year low of $169.43 and a 1-year high of $309.48. The stock's 50 day moving average price is $235.66 and its 200-day moving average price is $222.89. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.96 and a quick ratio of 4.56. The company has a market cap of $10.84 billion, a P/E ratio of 24.30, a price-to-earnings-growth ratio of 3.38 and a beta of 1.61.

EPAM Systems (NYSE:EPAM - Get Free Report) last released 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 firm 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%. As a group, equities analysts forecast that EPAM Systems, Inc. will post 8.9 EPS 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.