Rhumbline Advisers Sells 2,788 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Rhumbline Advisers decreased its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 2.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 98,639 shares of the information technology services provider’s stock after selling 2,788 shares during the quarter. Rhumbline Advisers owned approximately 0.17% of EPAM Systems worth $23,064,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Manning & Napier Advisors LLC grew its stake in shares of EPAM Systems by 48.8% during the 4th quarter. Manning & Napier Advisors LLC now owns 664,286 shares of the information technology services provider’s stock worth $155,323,000 after acquiring an additional 217,960 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of EPAM Systems by 45.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 515,351 shares of the information technology services provider’s stock worth $102,570,000 after acquiring an additional 160,989 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of EPAM Systems by 643.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 417,526 shares of the information technology services provider’s stock worth $83,100,000 after acquiring an additional 361,363 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of EPAM Systems by 10.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 346,201 shares of the information technology services provider’s stock worth $80,949,000 after acquiring an additional 33,715 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in EPAM Systems by 3.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 308,498 shares of the information technology services provider’s stock worth $61,400,000 after purchasing an additional 8,959 shares in the last quarter. Institutional investors own 91.58% of the company’s stock.

EPAM Systems Trading Down 12.8 %

EPAM opened at $225.11 on Friday. The stock has a market cap of $12.77 billion, a PE ratio of 29.23, a PEG ratio of 3.92 and a beta of 1.51. 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 business has a 50 day moving average of $244.27 and a 200-day moving average of $222.18. EPAM Systems, Inc. has a 52 week low of $169.43 and a 52 week high of $317.50.

EPAM Systems (NYSE:EPAM) last released its earnings results on Thursday, February 20th. The information technology services provider reported $2.23 EPS for the quarter, missing analysts’ consensus estimates of $2.75 by ($0.52). EPAM Systems had a net margin of 9.68% and a return on equity of 14.92%. Equities research analysts predict that EPAM Systems, Inc. will post 8.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other EPAM Systems news, CFO Jason D. Peterson sold 464 shares of EPAM Systems stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $257.00, for a total value of $119,248.00. Following the completion of the transaction, the chief financial officer now directly owns 24,372 shares of the company’s stock, valued at approximately $6,263,604. The trade was a 1.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Viktar Dvorkin sold 6,758 shares of the business’s stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 13,000 shares of the company’s stock, 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. Over the last ninety days, insiders sold 8,300 shares of company stock valued at $2,129,924. Insiders own 4.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. The Goldman Sachs Group raised EPAM Systems from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $235.00 to $295.00 in a report on Friday, December 6th. Piper Sandler increased their price objective on EPAM Systems from $225.00 to $258.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Susquehanna increased their price objective on EPAM Systems from $240.00 to $270.00 and gave the stock a “positive” rating in a report on Friday, November 8th. Needham & Company LLC reissued a “buy” rating and set a $265.00 price objective on shares of EPAM Systems in a report on Thursday. Finally, Scotiabank raised EPAM Systems from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the stock from $245.00 to $275.00 in a report on Monday, November 11th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $269.83.

EPAM Systems Company 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.