Globeflex Capital L P Invests $3.72 Million in EPAM Systems, Inc. (NYSE:EPAM)

Globeflex Capital L P bought a new position in EPAM Systems, Inc. (NYSE:EPAM) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 15,900 shares of the information technology services provider’s stock, valued at approximately $3,718,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its position in EPAM Systems by 643.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 417,526 shares of the information technology services provider’s stock valued at $83,100,000 after buying an additional 361,363 shares in the last quarter. Manning & Napier Advisors LLC grew its position in EPAM Systems by 48.8% in the fourth quarter. Manning & Napier Advisors LLC now owns 664,286 shares of the information technology services provider’s stock worth $155,323,000 after acquiring an additional 217,960 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of EPAM Systems by 45.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 515,351 shares of the information technology services provider’s stock worth $102,570,000 after buying an additional 160,989 shares during the period. Raymond James Financial Inc. purchased a new position in EPAM Systems in the fourth quarter valued at $27,916,000. Finally, Citigroup Inc. lifted its holdings in EPAM Systems by 199.5% during the 3rd quarter. Citigroup Inc. now owns 173,721 shares of the information technology services provider’s stock worth $34,576,000 after buying an additional 115,720 shares during the last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

EPAM Systems Stock Performance

Shares of EPAM Systems stock opened at $182.28 on Friday. EPAM Systems, Inc. has a 1 year low of $169.43 and a 1 year high of $302.19. The firm’s 50-day moving average is $232.05 and its 200 day moving average is $222.26. 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 stock has a market cap of $10.37 billion, a price-to-earnings ratio of 23.25, a PEG ratio of 3.38 and a beta of 1.61.

EPAM Systems (NYSE:EPAM) last released its 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). The firm had revenue of $1.25 billion during 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%. Sell-side analysts anticipate that EPAM Systems, Inc. will post 8.9 EPS for the current fiscal year.

Insiders Place Their Bets

In other EPAM Systems news, CFO Jason D. Peterson sold 1,078 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $257.00, for a total transaction of $277,046.00. Following the transaction, the chief financial officer now owns 23,382 shares of the company’s stock, valued at approximately $6,009,174. The trade was a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on EPAM shares. Jefferies Financial Group dropped 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. Needham & Company LLC restated a “buy” rating and set a $265.00 target price on shares of EPAM Systems in a research note on Thursday, February 20th. Barclays decreased their price target on EPAM Systems from $290.00 to $270.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Morgan Stanley lifted their price target on EPAM Systems from $230.00 to $256.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Finally, Scotiabank dropped their target price on EPAM Systems from $275.00 to $250.00 and set a “sector outperform” rating on the stock in a report on Monday, February 24th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, EPAM Systems currently has an average rating of “Moderate Buy” and an average target price of $267.33.

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.