William Blair Investment Management LLC Buys New Stake in EPAM Systems, Inc. (NYSE:EPAM)

William Blair Investment Management LLC bought a new position in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 713,824 shares of the information technology services provider's stock, valued at approximately $166,906,000. William Blair Investment Management LLC owned 1.26% of EPAM Systems as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its stake in EPAM Systems by 90.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider's stock worth $27,000 after purchasing an additional 54 shares in the last quarter. Versant Capital Management Inc purchased a new position in EPAM Systems in the fourth quarter worth approximately $35,000. Manchester Capital Management LLC grew its holdings in EPAM Systems by 590.0% during the 4th quarter. Manchester Capital Management LLC now owns 207 shares of the information technology services provider's stock worth $48,000 after acquiring an additional 177 shares in the last quarter. Continuum Advisory LLC increased its position in shares of EPAM Systems by 5,240.0% in the 3rd quarter. Continuum Advisory LLC now owns 267 shares of the information technology services provider's stock valued at $53,000 after purchasing an additional 262 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its holdings in shares of EPAM Systems by 21.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 325 shares of the information technology services provider's stock valued at $65,000 after purchasing an additional 57 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

A number of research firms have weighed in on EPAM. Morgan Stanley raised their price target on EPAM Systems from $230.00 to $256.00 and gave the company an "equal weight" rating in a research note on Friday, January 31st. StockNews.com cut EPAM Systems from a "buy" rating to a "hold" rating in a research note on Friday, February 21st. Jefferies Financial Group dropped their price target 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. Needham & Company LLC reiterated a "buy" rating and set a $265.00 price target on shares of EPAM Systems in a research note on Thursday, February 20th. Finally, Scotiabank decreased their price objective 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. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $262.47.

Insider Activity

In related news, CFO Jason D. Peterson sold 1,078 shares of EPAM Systems stock in a transaction on Monday, January 27th. The stock was sold at an average price of $257.00, for a total value of $277,046.00. Following the transaction, the chief financial officer now owns 23,382 shares in the company, valued at approximately $6,009,174. This trade represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.30% of the company's stock.

EPAM Systems Price Performance

Shares of EPAM traded up $3.36 during trading hours on Friday, reaching $175.64. 1,284,496 shares of the company traded hands, compared to its average volume of 656,279. The stock has a fifty day simple moving average of $227.19 and a 200 day simple moving average of $221.62. EPAM Systems, Inc. has a fifty-two week low of $169.43 and a fifty-two week high of $288.13. The stock has a market capitalization of $9.99 billion, a PE ratio of 22.40, a price-to-earnings-growth 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 earnings results on Thursday, February 20th. The information technology services provider reported $2.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.75 by ($0.52). The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.21 billion. EPAM Systems had a return on equity of 14.60% and a net margin of 9.61%. As a group, research analysts predict that EPAM Systems, Inc. will post 8.9 EPS for the current fiscal 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.