EPAM Systems, Inc. (NYSE:EPAM) Shares Sold by Arizona State Retirement System

Arizona State Retirement System cut its holdings in EPAM Systems, Inc. (NYSE:EPAM) by 0.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,538 shares of the information technology services provider’s stock after selling 72 shares during the period. Arizona State Retirement System’s holdings in EPAM Systems were worth $3,867,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in EPAM. Versant Capital Management Inc acquired a new stake in shares of EPAM Systems during the fourth quarter worth about $35,000. Farther Finance Advisors LLC increased its position in shares of EPAM Systems by 101.0% during the third quarter. Farther Finance Advisors LLC now owns 211 shares of the information technology services provider’s stock worth $42,000 after purchasing an additional 106 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of EPAM Systems during the third quarter worth about $44,000. Manchester Capital Management LLC increased its position in shares of EPAM Systems by 590.0% during the fourth quarter. Manchester Capital Management LLC now owns 207 shares of the information technology services provider’s stock worth $48,000 after purchasing an additional 177 shares in the last quarter. Finally, Continuum Advisory LLC increased its position in shares of EPAM Systems by 5,240.0% during the third quarter. Continuum Advisory LLC now owns 267 shares of the information technology services provider’s stock worth $53,000 after purchasing an additional 262 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

EPAM Systems Price Performance

Shares of EPAM opened at $199.15 on Friday. EPAM Systems, Inc. has a twelve month low of $169.43 and a twelve month high of $317.50. The stock’s 50 day moving average is $235.66 and its two-hundred day moving average is $222.74. The firm has a market capitalization of $11.33 billion, a PE ratio of 25.40, a P/E/G ratio of 3.38 and a beta of 1.61. The company has a current ratio of 2.96, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAM) last announced its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $2.23 EPS for the quarter, missing the consensus estimate of $2.75 by ($0.52). The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.21 billion. EPAM Systems had a return on equity of 14.60% and a net margin of 9.61%. Research analysts anticipate that EPAM Systems, Inc. will post 8.9 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on EPAM. Barclays upgraded EPAM Systems from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $250.00 to $290.00 in a research report on Tuesday, December 17th. Jefferies Financial Group cut their target price on EPAM Systems from $305.00 to $288.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Mizuho raised their price target on EPAM Systems from $245.00 to $282.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. The Goldman Sachs Group raised EPAM Systems from a “neutral” rating to a “buy” rating and raised their price target for the stock from $235.00 to $295.00 in a report on Friday, December 6th. Finally, Needham & Company LLC reissued a “buy” rating and set a $265.00 price target on shares of EPAM Systems in a report on Thursday, February 20th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $268.44.

Insider Transactions at EPAM Systems

In related news, SVP Viktar Dvorkin sold 6,758 shares of EPAM Systems stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $256.53, for a total transaction of $1,733,629.74. Following the completion of the transaction, the senior vice president now directly owns 13,000 shares in the company, valued at $3,334,890. The trade was a 34.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Jason D. Peterson sold 464 shares of EPAM Systems stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $257.00, for a total value of $119,248.00. Following the transaction, the chief financial officer now owns 24,372 shares of the company’s stock, valued at $6,263,604. This represents a 1.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,300 shares of company stock valued at $2,129,924 in the last quarter. 4.30% of the stock is currently 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.