Empowered Funds LLC Trims Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Empowered Funds LLC cut its stake in EPAM Systems, Inc. (NYSE:EPAM) by 97.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 963 shares of the information technology services provider’s stock after selling 36,907 shares during the quarter. Empowered Funds LLC’s holdings in EPAM Systems were worth $225,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Versant Capital Management Inc bought a new stake in EPAM Systems during the fourth quarter valued at $35,000. Farther Finance Advisors LLC boosted its stake in EPAM Systems by 101.0% during the third quarter. Farther Finance Advisors LLC now owns 211 shares of the information technology services provider’s stock valued at $42,000 after buying an additional 106 shares during the period. Capital Performance Advisors LLP bought a new stake in EPAM Systems during the third quarter valued at $44,000. Sentry Investment Management LLC bought a new stake in EPAM Systems during the third quarter valued at $52,000. Finally, Continuum Advisory LLC boosted its stake in EPAM Systems by 5,240.0% during the third quarter. Continuum Advisory LLC now owns 267 shares of the information technology services provider’s stock valued at $53,000 after buying an additional 262 shares during the period. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

EPAM Systems Trading Down 7.2 %

EPAM opened at $208.98 on Friday. The business has a 50 day simple moving average of $243.56 and a two-hundred day simple moving average of $222.23. The firm has a market capitalization of $11.85 billion, a price-to-earnings ratio of 27.14, a PEG ratio of 3.88 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. EPAM Systems, Inc. has a one year low of $169.43 and a one year high of $317.50.

EPAM Systems (NYSE:EPAM) last released its quarterly 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%. The business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.21 billion. Analysts predict that EPAM Systems, Inc. will post 8.59 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on EPAM shares. Jefferies Financial Group dropped their price objective 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. Citigroup upped their price objective 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 cut EPAM Systems from a “buy” rating to a “hold” rating in a report on Friday. Piper Sandler upped 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. Finally, Morgan Stanley upped their price objective on EPAM Systems from $230.00 to $256.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $269.83.

Insider Transactions at EPAM Systems

In related 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 value of $277,046.00. Following the sale, the chief financial officer now owns 23,382 shares in the company, valued at $6,009,174. This represents a 4.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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 completion of the sale, the senior vice president now owns 13,000 shares in the company, valued at $3,334,890. The trade was a 34.20 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,300 shares of company stock valued at $2,129,924. Corporate insiders own 4.30% of the company’s stock.

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.