19,400 Shares in EPAM Systems, Inc. (NYSE:EPAM) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new stake in shares of EPAM Systems, Inc. (NYSE:EPAM) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 19,400 shares of the information technology services provider’s stock, valued at approximately $4,536,000.

Other institutional investors also recently bought and sold shares of the company. Centre Asset Management LLC acquired a new position in shares of EPAM Systems during the 4th quarter valued at about $8,757,000. Oliver Luxxe Assets LLC acquired a new position in EPAM Systems during the fourth quarter valued at approximately $1,889,000. Pathstone Holdings LLC grew its holdings in EPAM Systems by 32.6% during the third quarter. Pathstone Holdings LLC now owns 14,249 shares of the information technology services provider’s stock valued at $2,836,000 after purchasing an additional 3,507 shares during the last quarter. iA Global Asset Management Inc. raised its position in shares of EPAM Systems by 165.2% in the third quarter. iA Global Asset Management Inc. now owns 3,700 shares of the information technology services provider’s stock valued at $736,000 after purchasing an additional 2,305 shares during the period. Finally, Merit Financial Group LLC acquired a new stake in shares of EPAM Systems in the fourth quarter worth $245,000. 91.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on EPAM. StockNews.com lowered shares of EPAM Systems from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Jefferies Financial Group dropped their price objective on EPAM Systems from $305.00 to $288.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. Scotiabank decreased their target price on EPAM Systems from $275.00 to $250.00 and set a “sector outperform” rating for the company in a research note on Monday, February 24th. Barclays lowered 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. Finally, The Goldman Sachs Group upgraded EPAM Systems from a “neutral” rating to a “buy” rating and upped their price target for the stock from $235.00 to $295.00 in a report on Friday, December 6th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, EPAM Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $262.47.

Insider Buying and Selling at EPAM Systems

In other news, CFO Jason D. Peterson sold 1,078 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $257.00, for a total value of $277,046.00. Following the sale, the chief financial officer now owns 23,382 shares of the company’s stock, valued at approximately $6,009,174. This represents a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.30% of the company’s stock.

EPAM Systems Stock Performance

NYSE:EPAM opened at $179.12 on Wednesday. The firm has a market capitalization of $10.19 billion, a PE ratio of 22.85, a price-to-earnings-growth ratio of 3.38 and a beta of 1.61. The company has a quick ratio of 4.56, a current ratio of 2.96 and a debt-to-equity ratio of 0.01. EPAM Systems, Inc. has a 12-month low of $169.43 and a 12-month high of $281.62. The firm has a 50-day moving average price of $224.30 and a 200 day moving average price of $221.42.

EPAM Systems (NYSE:EPAM) last issued its earnings results on Thursday, February 20th. The information technology services provider reported $2.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.75 by ($0.52). The company had revenue of $1.25 billion during the quarter, compared to analyst estimates 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 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.