Mackenzie Financial Corp Sells 1,115 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Mackenzie Financial Corp lessened its stake in EPAM Systems, Inc. (NYSE:EPAM) by 11.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 8,915 shares of the information technology services provider’s stock after selling 1,115 shares during the quarter. Mackenzie Financial Corp’s holdings in EPAM Systems were worth $2,651,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Natixis Advisors L.P. grew its position in EPAM Systems by 5.1% in the third quarter. Natixis Advisors L.P. now owns 28,200 shares of the information technology services provider’s stock worth $7,210,000 after acquiring an additional 1,370 shares in the last quarter. Lone Pine Capital LLC boosted its holdings in shares of EPAM Systems by 9.2% in the 3rd quarter. Lone Pine Capital LLC now owns 1,054,229 shares of the information technology services provider’s stock worth $269,556,000 after purchasing an additional 88,641 shares in the last quarter. TD Asset Management Inc increased its position in shares of EPAM Systems by 2.5% during the 3rd quarter. TD Asset Management Inc now owns 63,074 shares of the information technology services provider’s stock valued at $16,127,000 after purchasing an additional 1,558 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of EPAM Systems during the 3rd quarter valued at about $13,402,000. Finally, Assenagon Asset Management S.A. lifted its position in EPAM Systems by 131.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 78,156 shares of the information technology services provider’s stock worth $23,239,000 after buying an additional 44,388 shares during the last quarter. Institutional investors own 91.58% of the company’s stock.

EPAM Systems Stock Performance

EPAM Systems stock opened at $247.20 on Tuesday. EPAM Systems, Inc. has a fifty-two week low of $197.99 and a fifty-two week high of $317.50. The stock’s 50 day simple moving average is $284.87 and its two-hundred day simple moving average is $273.86. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.79 and a current ratio of 4.79. The stock has a market cap of $14.34 billion, a price-to-earnings ratio of 34.96, a PEG ratio of 10.73 and a beta of 1.44.

EPAM Systems (NYSE:EPAM) last released its quarterly earnings results on Thursday, February 15th. The information technology services provider reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.24. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.14 billion. EPAM Systems had a return on equity of 15.53% and a net margin of 8.89%. The firm’s revenue was down 6.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.71 earnings per share. As a group, analysts expect that EPAM Systems, Inc. will post 7.72 earnings per share for the current fiscal year.

Insider Transactions at EPAM Systems

In related news, SVP Sergey Yezhkov sold 8,000 shares of EPAM Systems stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $302.04, for a total transaction of $2,416,320.00. Following the completion of the transaction, the senior vice president now directly owns 12,770 shares of the company’s stock, valued at approximately $3,857,050.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, SVP Lawrence F. Solomon sold 5,350 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $306.00, for a total value of $1,637,100.00. Following the transaction, the senior vice president now owns 12,117 shares in the company, valued at $3,707,802. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Sergey Yezhkov sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $302.04, for a total transaction of $2,416,320.00. Following the sale, the senior vice president now directly owns 12,770 shares of the company’s stock, valued at approximately $3,857,050.80. The disclosure for this sale can be found here. Insiders have sold 16,820 shares of company stock valued at $5,101,117 in the last three months. 4.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Mizuho increased their price target on shares of EPAM Systems from $340.00 to $345.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Wedbush reiterated an “outperform” rating and issued a $340.00 target price on shares of EPAM Systems in a research report on Wednesday, April 10th. JPMorgan Chase & Co. boosted their price target on shares of EPAM Systems from $315.00 to $334.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 14th. Morgan Stanley reduced their price objective on EPAM Systems from $250.00 to $236.00 and set an “underweight” rating on the stock in a research note on Friday, March 22nd. Finally, Scotiabank raised EPAM Systems from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $265.00 to $350.00 in a research note on Friday, February 16th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $328.00.

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.