State of Alaska Department of Revenue Sells 3,521 Shares of EPAM Systems, Inc. (NYSE:EPAM)

State of Alaska Department of Revenue trimmed its stake in shares of EPAM Systems, Inc. (NYSE:EPAM) by 35.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,470 shares of the information technology services provider’s stock after selling 3,521 shares during the quarter. State of Alaska Department of Revenue’s holdings in EPAM Systems were worth $1,512,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EPAM. CWM LLC boosted its position in EPAM Systems by 112.8% during the third quarter. CWM LLC now owns 3,951 shares of the information technology services provider’s stock worth $786,000 after purchasing an additional 2,094 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of EPAM Systems by 181.8% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 155 shares of the information technology services provider’s stock worth $31,000 after buying an additional 100 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of EPAM Systems by 573.1% during the third quarter. Exchange Traded Concepts LLC now owns 801 shares of the information technology services provider’s stock worth $159,000 after buying an additional 682 shares in the last quarter. Creative Planning lifted its holdings in shares of EPAM Systems by 100.8% during the third quarter. Creative Planning now owns 7,178 shares of the information technology services provider’s stock worth $1,429,000 after buying an additional 3,604 shares in the last quarter. Finally, NBC Securities Inc. lifted its holdings in shares of EPAM Systems by 549.1% during the third quarter. NBC Securities Inc. now owns 1,097 shares of the information technology services provider’s stock worth $218,000 after buying an additional 928 shares in the last quarter. 91.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on EPAM. Piper Sandler lifted their target price on EPAM Systems from $225.00 to $258.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Citigroup lifted their target price on EPAM Systems from $207.00 to $210.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. StockNews.com raised EPAM Systems from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Jefferies Financial Group dropped their price target on EPAM Systems from $305.00 to $288.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Finally, The Goldman Sachs Group upgraded EPAM Systems from a “neutral” rating to a “buy” rating and lifted their target price for the company from $235.00 to $295.00 in a research report on Friday, December 6th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, EPAM Systems currently has an average rating of “Moderate Buy” and a consensus price target of $269.83.

EPAM Systems Stock Performance

Shares of EPAM stock opened at $264.91 on Thursday. The business’s 50 day simple moving average is $243.13 and its 200 day simple moving average is $220.37. EPAM Systems, Inc. has a one year low of $169.43 and a one year high of $317.50. The stock has a market capitalization of $15.03 billion, a PE ratio of 34.40, a PEG ratio of 3.96 and a beta of 1.51. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.56 and a quick ratio of 4.56.

Insider Activity at EPAM Systems

In other news, CFO Jason D. Peterson sold 1,078 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 23,382 shares of the company’s stock, valued at $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 available through this link. Also, SVP Viktar Dvorkin sold 6,758 shares of the company’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 directly owns 13,000 shares in the company, valued at $3,334,890. The trade was a 34.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,300 shares of company stock worth $2,129,924 over the last ninety days. Insiders own 4.30% of the company’s stock.

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.