Commonwealth Equity Services LLC Lowers Stock Position in EPAM Systems, Inc. (NYSE:EPAM)

Commonwealth Equity Services LLC lowered its position in EPAM Systems, Inc. (NYSE:EPAM) by 64.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,529 shares of the information technology services provider’s stock after selling 4,546 shares during the period. Commonwealth Equity Services LLC’s holdings in EPAM Systems were worth $591,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Manning & Napier Advisors LLC boosted its position in EPAM Systems by 48.8% during the fourth quarter. Manning & Napier Advisors LLC now owns 664,286 shares of the information technology services provider’s stock worth $155,323,000 after purchasing an additional 217,960 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of EPAM Systems during the 4th quarter valued at approximately $27,916,000. KBC Group NV grew its stake in EPAM Systems by 399.1% in the 4th quarter. KBC Group NV now owns 116,350 shares of the information technology services provider’s stock valued at $27,205,000 after acquiring an additional 93,039 shares during the period. CHURCHILL MANAGEMENT Corp purchased a new stake in EPAM Systems in the 4th quarter worth $11,149,000. Finally, Norris Perne & French LLP MI raised its position in EPAM Systems by 69.0% during the fourth quarter. Norris Perne & French LLP MI now owns 113,735 shares of the information technology services provider’s stock worth $26,594,000 after acquiring an additional 46,419 shares during the period. 91.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EPAM has been the subject of a number of research reports. The Goldman Sachs Group raised shares of EPAM Systems from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $235.00 to $295.00 in a research note on Friday, December 6th. StockNews.com raised EPAM Systems from a “hold” rating to a “buy” rating in a research note on Friday. Morgan Stanley raised their price objective on EPAM Systems from $230.00 to $256.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. 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 research report on Monday, February 24th. Finally, Jefferies Financial Group lowered 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 report on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $257.31.

Insider Buying and Selling at EPAM Systems

In related news, CFO Jason D. Peterson sold 1,078 shares of the business’s stock in a transaction 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 approximately $6,009,174. The trade was a 4.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.30% of the company’s stock.

EPAM Systems Price Performance

EPAM stock opened at $144.73 on Friday. EPAM Systems, Inc. has a 52-week low of $144.00 and a 52-week high of $275.49. The company has a quick ratio of 4.56, a current ratio of 2.96 and a debt-to-equity ratio of 0.01. The stock has a market cap of $8.23 billion, a price-to-earnings ratio of 18.46, a price-to-earnings-growth ratio of 3.38 and a beta of 1.61. The business has a fifty day moving average of $213.08 and a two-hundred day moving average of $219.04.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings data 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 business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.21 billion. EPAM Systems had a return on equity of 14.60% and a net margin of 9.61%. As a group, research analysts anticipate that EPAM Systems, Inc. will post 8.9 earnings per share for the current year.

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.