Allspring Global Investments Holdings LLC Grows Position in EPAM Systems, Inc. (NYSE:EPAM)

Allspring Global Investments Holdings LLC lifted its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM) by 144.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,755 shares of the information technology services provider’s stock after buying an additional 27,627 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.08% of EPAM Systems worth $10,714,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of EPAM. Exchange Traded Concepts LLC boosted its position in EPAM Systems by 573.1% in the third quarter. Exchange Traded Concepts LLC now owns 801 shares of the information technology services provider’s stock worth $159,000 after purchasing an additional 682 shares during the last quarter. Creative Planning boosted its position in EPAM Systems by 100.8% in the third quarter. Creative Planning now owns 7,178 shares of the information technology services provider’s stock worth $1,429,000 after purchasing an additional 3,604 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in EPAM Systems by 2.8% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,949 shares of the information technology services provider’s stock worth $1,184,000 after purchasing an additional 161 shares during the last quarter. Raymond James & Associates boosted its position in EPAM Systems by 1,741.1% in the third quarter. Raymond James & Associates now owns 36,694 shares of the information technology services provider’s stock worth $7,303,000 after purchasing an additional 34,701 shares during the last quarter. Finally, Lecap Asset Management Ltd. purchased a new position in EPAM Systems in the third quarter worth about $3,560,000. 91.58% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at EPAM Systems

In other news, CFO Jason D. Peterson sold 1,078 shares of EPAM Systems 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 completion of the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Viktar Dvorkin sold 6,758 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $256.53, for a total value of $1,733,629.74. Following the transaction, the senior vice president now owns 13,000 shares of the company’s stock, valued at approximately $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 90 days, insiders sold 8,300 shares of company stock worth $2,129,924. 4.30% of the stock is currently owned by company insiders.

EPAM Systems Stock Performance

NYSE:EPAM opened at $261.01 on Wednesday. The company has a market cap of $14.80 billion, a price-to-earnings ratio of 33.90, a PEG ratio of 3.96 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. The stock’s 50 day simple moving average is $244.68 and its two-hundred day simple moving average is $221.91. EPAM Systems, Inc. has a 1 year low of $169.43 and a 1 year high of $317.50.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Barclays raised EPAM Systems from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $250.00 to $290.00 in a research report on Tuesday, December 17th. Mizuho raised their price objective on EPAM Systems from $245.00 to $282.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Jefferies Financial Group decreased their price objective on EPAM Systems from $305.00 to $288.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. Itau BBA Securities raised EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 price objective on the stock in a research note on Friday, November 8th. Finally, Scotiabank raised EPAM Systems from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $245.00 to $275.00 in a research note on Monday, November 11th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, EPAM Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $269.83.

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.