Victory Capital Management Inc. Has $4.03 Million Stock Position in EPAM Systems, Inc. (NYSE:EPAM)

Victory Capital Management Inc. cut its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM) by 76.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,213 shares of the information technology services provider’s stock after selling 55,234 shares during the quarter. Victory Capital Management Inc.’s holdings in EPAM Systems were worth $4,025,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc acquired a new position in shares of EPAM Systems during the 4th quarter worth approximately $35,000. Manchester Capital Management LLC increased its holdings in shares of EPAM Systems by 590.0% during the 4th quarter. Manchester Capital Management LLC now owns 207 shares of the information technology services provider’s stock worth $48,000 after acquiring an additional 177 shares during the last quarter. Continuum Advisory LLC increased its holdings in shares of EPAM Systems by 5,240.0% during the 3rd quarter. Continuum Advisory LLC now owns 267 shares of the information technology services provider’s stock worth $53,000 after acquiring an additional 262 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in shares of 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 worth $65,000 after acquiring an additional 57 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of EPAM Systems by 46.5% during the 4th quarter. Blue Trust Inc. now owns 488 shares of the information technology services provider’s stock worth $114,000 after acquiring an additional 155 shares during the last quarter. 91.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on EPAM. Barclays decreased their target price on EPAM Systems from $290.00 to $270.00 and set an “overweight” rating on the stock in a 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. Morgan Stanley upped their target price on EPAM Systems from $230.00 to $256.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Needham & Company LLC reiterated a “buy” rating and set a $265.00 target price on shares of EPAM Systems in a research report on Thursday, February 20th. Finally, Scotiabank cut their target price on 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. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $267.33.

EPAM Systems Price Performance

Shares of EPAM opened at $182.28 on Friday. EPAM Systems, Inc. has a 12-month low of $169.43 and a 12-month high of $301.60. The business has a 50-day simple moving average of $231.08 and a two-hundred day simple moving average of $222.32. 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 $10.37 billion, a PE ratio of 23.25, a PEG 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 analyst estimates of $1.21 billion. EPAM Systems had a return on equity of 14.60% and a net margin of 9.61%. Analysts anticipate that EPAM Systems, Inc. will post 8.9 earnings per share for the current fiscal year.

Insider Transactions at EPAM Systems

In other news, CFO Jason D. Peterson sold 1,078 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was 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 directly owns 23,382 shares in the company, valued at $6,009,174. This trade represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.30% of the stock is owned by corporate insiders.

EPAM Systems 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.