New York State Common Retirement Fund Sells 5,973 Shares of EPAM Systems, Inc. (NYSE:EPAM)

New York State Common Retirement Fund decreased its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM) by 9.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,577 shares of the information technology services provider’s stock after selling 5,973 shares during the period. New York State Common Retirement Fund owned about 0.10% of EPAM Systems worth $16,525,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of EPAM. International Assets Investment Management LLC bought a new position in shares of EPAM Systems in the fourth quarter valued at approximately $663,080,000. Royal Bank of Canada raised its position in EPAM Systems by 265.7% in the 3rd quarter. Royal Bank of Canada now owns 183,284 shares of the information technology services provider’s stock worth $46,864,000 after purchasing an additional 133,163 shares during the last quarter. Lone Pine Capital LLC raised its position in 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 during the last quarter. Envestnet Asset Management Inc. raised its position in EPAM Systems by 95.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 166,346 shares of the information technology services provider’s stock worth $42,533,000 after purchasing an additional 81,386 shares during the last quarter. Finally, Wellington Management Group LLP bought a new position in EPAM Systems in the 3rd quarter worth approximately $13,402,000. Institutional investors own 91.58% of the company’s stock.

Insiders Place Their Bets

In other EPAM Systems news, EVP Balazs Fejes sold 3,470 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $301.93, for a total transaction of $1,047,697.10. Following the sale, the executive vice president now directly owns 13,334 shares of the company’s stock, valued at approximately $4,025,934.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other EPAM Systems news, EVP Balazs Fejes sold 3,470 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $301.93, for a total transaction of $1,047,697.10. Following the sale, the executive vice president now directly owns 13,334 shares of the company’s stock, valued at approximately $4,025,934.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Sergey Yezhkov sold 8,000 shares of the company’s 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 sale, the senior vice president now directly owns 12,770 shares in the company, valued at $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 corporate insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on EPAM shares. Wedbush restated an “outperform” rating and issued a $340.00 price objective on shares of EPAM Systems in a research report on Wednesday, April 10th. HSBC dropped their price objective on shares of EPAM Systems from $350.00 to $345.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. Jefferies Financial Group restated a “hold” rating and issued a $295.00 price objective on shares of EPAM Systems in a research report on Thursday, January 11th. Scotiabank raised shares of EPAM Systems from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from $265.00 to $350.00 in a report on Friday, February 16th. Finally, Guggenheim began coverage on shares of EPAM Systems in a report on Tuesday, March 19th. They set a “buy” rating and a $350.00 target price for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $323.93.

EPAM Systems Price Performance

Shares of NYSE EPAM opened at $237.75 on Monday. The firm has a market cap of $13.79 billion, a PE ratio of 33.63, a PEG ratio of 10.37 and a beta of 1.43. The company has a current ratio of 4.79, a quick ratio of 4.79 and a debt-to-equity ratio of 0.01. EPAM Systems, Inc. has a 1-year low of $197.99 and a 1-year high of $317.50. The company has a fifty day moving average price of $280.94 and a 200 day moving average price of $273.73.

EPAM Systems (NYSE:EPAM) last announced its earnings results on Thursday, February 15th. The information technology services provider reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.51 by $0.24. EPAM Systems had a net margin of 8.89% and a return on equity of 15.53%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the business earned $2.71 EPS. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. Research analysts predict that EPAM Systems, Inc. will post 7.72 earnings per share for the current fiscal year.

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.