Principal Financial Group Inc. Has $14.07 Million Stake in EPAM Systems, Inc. (NYSE:EPAM)

Principal Financial Group Inc. raised its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 1.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 70,674 shares of the information technology services provider’s stock after purchasing an additional 848 shares during the quarter. Principal Financial Group Inc. owned 0.12% of EPAM Systems worth $14,066,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Metis Global Partners LLC raised its position in EPAM Systems by 2.5% during the third quarter. Metis Global Partners LLC now owns 2,029 shares of the information technology services provider’s stock valued at $404,000 after buying an additional 50 shares during the period. First Horizon Advisors Inc. grew its position in 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 purchasing an additional 57 shares in the last quarter. SkyView Investment Advisors LLC increased its stake in EPAM Systems by 3.0% in the 3rd quarter. SkyView Investment Advisors LLC now owns 2,055 shares of the information technology services provider’s stock valued at $409,000 after buying an additional 60 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in EPAM Systems by 1.1% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,788 shares of the information technology services provider’s stock worth $1,089,000 after buying an additional 63 shares in the last quarter. Finally, V Square Quantitative Management LLC boosted its stake in shares of EPAM Systems by 4.3% during the 3rd quarter. V Square Quantitative Management LLC now owns 1,562 shares of the information technology services provider’s stock valued at $311,000 after buying an additional 65 shares during the period. Hedge funds and other institutional investors own 91.58% of the company’s stock.

EPAM Systems Stock Performance

Shares of NYSE EPAM opened at $238.47 on Friday. EPAM Systems, Inc. has a 12 month low of $169.43 and a 12 month high of $317.50. The company has a quick ratio of 4.56, a current ratio of 4.56 and a debt-to-equity ratio of 0.01. The company has a market cap of $13.53 billion, a P/E ratio of 30.97, a P/E/G ratio of 3.87 and a beta of 1.49. The business’s 50 day moving average is $230.09 and its two-hundred day moving average is $208.22.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Jefferies Financial Group upped their price target on shares of EPAM Systems from $237.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Barclays upgraded EPAM Systems from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $250.00 to $290.00 in a report on Tuesday, December 17th. Itau BBA Securities raised EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 price target for the company in a research note on Friday, November 8th. Piper Sandler raised their price objective on shares of EPAM Systems from $225.00 to $258.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group raised shares of EPAM Systems from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $235.00 to $295.00 in a research report on Friday, December 6th. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $272.20.

Insider Buying and Selling

In other news, CFO Jason D. Peterson sold 1,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $237.00, for a total transaction of $237,000.00. Following the transaction, the chief financial officer now owns 24,836 shares in the company, valued at approximately $5,886,132. The trade was a 3.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Viktar Dvorkin sold 6,758 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $256.53, for a total transaction of $1,733,629.74. Following the completion of the sale, the senior vice president now owns 13,000 shares of the company’s stock, valued at approximately $3,334,890. The trade was a 34.20 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,222 shares of company stock valued at $2,089,878. 4.30% of the stock is owned by company insiders.

EPAM Systems Profile

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.