Truist Financial Corp Sells 1,769 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Truist Financial Corp lessened its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 66.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 888 shares of the information technology services provider’s stock after selling 1,769 shares during the quarter. Truist Financial Corp’s holdings in EPAM Systems were worth $208,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Metis Global Partners LLC raised its stake in shares of EPAM Systems by 2.5% during the 3rd quarter. Metis Global Partners LLC now owns 2,029 shares of the information technology services provider’s stock worth $404,000 after acquiring an additional 50 shares in the last quarter. First Horizon Advisors Inc. increased its stake in EPAM Systems by 21.3% during 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. SkyView Investment Advisors LLC increased its stake in EPAM Systems by 3.0% during 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 purchasing an additional 60 shares in the last quarter. Empirical Finance LLC increased its stake in EPAM Systems by 5.2% during the 3rd quarter. Empirical Finance LLC now owns 1,362 shares of the information technology services provider’s stock valued at $271,000 after purchasing an additional 67 shares in the last quarter. Finally, Covestor Ltd increased its stake in EPAM Systems by 16.4% during the 3rd quarter. Covestor Ltd now owns 490 shares of the information technology services provider’s stock valued at $98,000 after purchasing an additional 69 shares in the last quarter. Institutional investors own 91.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Susquehanna upped their price target on shares of EPAM Systems from $240.00 to $270.00 and gave the company a “positive” rating in a research note on Friday, November 8th. Morgan Stanley upped their price target on shares of EPAM Systems from $230.00 to $256.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Jefferies Financial Group cut 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. The Goldman Sachs Group upgraded shares of EPAM Systems from a “neutral” rating to a “buy” rating and upped their price target for the company from $235.00 to $295.00 in a research note on Friday, December 6th. Finally, Scotiabank cut their price target on shares of EPAM Systems from $275.00 to $250.00 and set a “sector outperform” rating on the stock in a research note on Monday, February 24th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $268.44.

EPAM Systems Stock Performance

Shares of NYSE EPAM opened at $197.15 on Friday. The company’s fifty day moving average price is $237.33 and its 200 day moving average price is $222.78. EPAM Systems, Inc. has a 1 year low of $169.43 and a 1 year high of $317.50. The company has a market capitalization of $11.18 billion, a PE ratio of 25.15, a price-to-earnings-growth ratio of 3.38 and a beta of 1.51. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 2.96.

EPAM Systems (NYSE:EPAM) last announced its quarterly 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 analysts’ expectations of $1.21 billion. EPAM Systems had a return on equity of 14.60% and a net margin of 9.61%. On average, research analysts predict that EPAM Systems, Inc. will post 8.9 earnings per share for the current year.

Insider Buying and Selling at EPAM Systems

In other EPAM Systems news, SVP Viktar Dvorkin sold 6,758 shares of the stock in a transaction 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. This trade represents a 34.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Jason D. Peterson sold 464 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $257.00, for a total transaction of $119,248.00. Following the transaction, the chief financial officer now directly owns 24,372 shares in the company, valued at approximately $6,263,604. The trade was a 1.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,300 shares of company stock valued at $2,129,924 over the last ninety days. Corporate insiders own 4.30% of the company’s stock.

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.