Victory Capital Management Inc. Sells 55,234 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Victory Capital Management Inc. trimmed its position in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 76.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,213 shares of the information technology services provider's stock after selling 55,234 shares during the quarter. Victory Capital Management Inc.'s holdings in EPAM Systems were worth $4,025,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings in EPAM Systems by 1.2% in the 3rd quarter. Principal Financial Group Inc. now owns 70,674 shares of the information technology services provider's stock worth $14,066,000 after purchasing an additional 848 shares during the last quarter. Atria Investments Inc lifted its holdings in EPAM Systems by 139.2% in the 3rd quarter. Atria Investments Inc now owns 4,048 shares of the information technology services provider's stock worth $806,000 after purchasing an additional 2,356 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in EPAM Systems by 1.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 127,156 shares of the information technology services provider's stock worth $25,308,000 after purchasing an additional 2,372 shares during the last quarter. KBC Group NV lifted its holdings in EPAM Systems by 3.0% in the 3rd quarter. KBC Group NV now owns 23,311 shares of the information technology services provider's stock worth $4,639,000 after purchasing an additional 683 shares during the last quarter. Finally, Zions Bancorporation N.A. lifted its holdings in EPAM Systems by 6,611.8% in the 3rd quarter. Zions Bancorporation N.A. now owns 1,141 shares of the information technology services provider's stock worth $227,000 after purchasing an additional 1,124 shares during the last quarter. 91.58% of the stock is currently owned by institutional investors and hedge funds.

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EPAM Systems Price Performance

NYSE:EPAM traded down $1.00 during trading hours on Wednesday, reaching $182.02. The company had a trading volume of 436,539 shares, compared to its average volume of 646,979. The stock has a 50-day moving average of $229.28 and a two-hundred day moving average of $222.26. EPAM Systems, Inc. has a one year low of $169.43 and a one year high of $296.20. The firm has a market capitalization of $10.35 billion, a PE ratio of 23.07, a PEG ratio of 3.38 and a beta of 1.61. The company has a quick ratio of 4.56, a current ratio of 2.96 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAM - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $2.23 earnings per share for the quarter, missing analysts' consensus estimates of $2.75 by ($0.52). EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.21 billion. Analysts forecast that EPAM Systems, Inc. will post 8.9 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Jefferies Financial Group reduced their target price on EPAM Systems from $305.00 to $288.00 and set a "buy" rating for the company in a report on Tuesday, January 21st. Scotiabank cut 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. The Goldman Sachs Group upgraded EPAM Systems from a "neutral" rating to a "buy" rating and upped their price target for the stock from $235.00 to $295.00 in a report on Friday, December 6th. Needham & Company LLC reiterated a "buy" rating and set a $265.00 price target on shares of EPAM Systems in a report on Thursday, February 20th. Finally, Barclays cut their price target on EPAM Systems from $290.00 to $270.00 and set an "overweight" rating for the company in a report on Monday, March 10th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, EPAM Systems currently has an average rating of "Moderate Buy" and an average target price of $267.33.

Insider Transactions at EPAM Systems

In other news, CFO Jason D. Peterson sold 1,078 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $257.00, for a total transaction of $277,046.00. Following the sale, the chief financial officer now owns 23,382 shares in the company, valued at approximately $6,009,174. This represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.30% of the company's stock.

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.