Allstate Corp Invests $393,000 in EPAM Systems, Inc. (NYSE:EPAM)

Allstate Corp purchased a new stake in EPAM Systems, Inc. (NYSE:EPAM) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,680 shares of the information technology services provider’s stock, valued at approximately $393,000.

A number of other hedge funds have also bought and sold shares of the business. DnB Asset Management AS grew its position in shares of EPAM Systems by 26.4% during the 4th quarter. DnB Asset Management AS now owns 11,245 shares of the information technology services provider’s stock worth $2,629,000 after purchasing an additional 2,349 shares in the last quarter. Pictet Asset Management Holding SA grew its position in EPAM Systems by 4.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 27,643 shares of the information technology services provider’s stock worth $6,463,000 after buying an additional 1,185 shares in the last quarter. Norges Bank bought a new position in EPAM Systems during the 4th quarter worth $173,053,000. UniSuper Management Pty Ltd raised its holdings in EPAM Systems by 0.3% in the 4th quarter. UniSuper Management Pty Ltd now owns 15,632 shares of the information technology services provider’s stock valued at $3,655,000 after acquiring an additional 52 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of EPAM Systems by 11.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 93,599 shares of the information technology services provider’s stock valued at $21,595,000 after acquiring an additional 9,322 shares during the period. 91.58% of the stock is owned by institutional investors.

EPAM Systems Stock Up 1.0 %

Shares of NYSE EPAM opened at $169.16 on Thursday. EPAM Systems, Inc. has a 1 year low of $162.74 and a 1 year high of $275.49. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.96 and a quick ratio of 4.56. The firm has a market cap of $9.62 billion, a PE ratio of 21.58, a price-to-earnings-growth ratio of 3.38 and a beta of 1.61. The company has a 50 day simple moving average of $217.03 and a 200 day simple moving average of $219.91.

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

Insiders Place Their Bets

In other EPAM Systems news, CFO Jason D. Peterson sold 1,078 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were 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 owns 23,382 shares in the company, valued at approximately $6,009,174. This trade represents a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. StockNews.com downgraded EPAM Systems from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Jefferies Financial Group dropped their target price on shares of EPAM Systems from $305.00 to $288.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Morgan Stanley increased their price target on shares of EPAM Systems from $230.00 to $256.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. The Goldman Sachs Group upgraded shares of EPAM Systems from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $235.00 to $295.00 in a research report on Friday, December 6th. Finally, Barclays reduced 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. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $262.47.

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.