Proficio Capital Partners LLC Takes $3.77 Million Position in EPAM Systems, Inc. (NYSE:EPAM)

Proficio Capital Partners LLC acquired a new position in shares of EPAM Systems, Inc. (NYSE:EPAM) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 16,134 shares of the information technology services provider’s stock, valued at approximately $3,772,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Metis Global Partners LLC lifted its stake in EPAM Systems by 2.5% in the third 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 during the period. First Horizon Advisors Inc. increased its position 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 during the period. SkyView Investment Advisors LLC raised its holdings in shares of 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 purchasing an additional 60 shares in the last quarter. Empirical Finance LLC lifted its position in shares of EPAM Systems by 5.2% in the 3rd quarter. Empirical Finance LLC now owns 1,362 shares of the information technology services provider’s stock worth $271,000 after purchasing an additional 67 shares during the period. Finally, Baker Tilly Wealth Management LLC boosted its stake in shares of EPAM Systems by 4.9% during the fourth quarter. Baker Tilly Wealth Management LLC now owns 1,465 shares of the information technology services provider’s stock valued at $343,000 after purchasing an additional 69 shares in the last quarter. 91.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

EPAM has been the subject of a number of recent research reports. Morgan Stanley boosted their price objective on shares of EPAM Systems from $230.00 to $256.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Barclays reduced their price target on EPAM Systems from $290.00 to $270.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. StockNews.com downgraded EPAM Systems from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Scotiabank reduced their target price on shares of EPAM Systems from $275.00 to $250.00 and set a “sector outperform” rating for the company in a report on Monday, February 24th. Finally, The Goldman Sachs Group upgraded shares of EPAM Systems from a “neutral” rating to a “buy” rating and raised their price target for the company from $235.00 to $295.00 in a report on Friday, December 6th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $267.33.

Insider Buying and Selling

In related news, CFO Jason D. Peterson sold 1,078 shares of the firm’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $257.00, for a total transaction of $277,046.00. Following the completion of the transaction, the chief financial officer now owns 23,382 shares of the company’s stock, valued at $6,009,174. This trade represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 4.30% of the company’s stock.

EPAM Systems Trading Up 2.0 %

NYSE EPAM opened at $186.34 on Tuesday. EPAM Systems, Inc. has a 12-month low of $169.43 and a 12-month high of $301.60. The company has a fifty day simple moving average of $230.19 and a two-hundred day simple moving average of $222.38. The company has a current ratio of 2.96, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01. The stock has a market cap of $10.60 billion, a P/E ratio of 23.77, a P/E/G ratio of 3.38 and a beta of 1.61.

EPAM Systems (NYSE:EPAM) last issued its 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 during 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, analysts forecast that EPAM Systems, Inc. will post 8.9 earnings per share for the current year.

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.