Teachers Retirement System of The State of Kentucky Reduces Stock Position in EPAM Systems, Inc. (NYSE:EPAM)

Teachers Retirement System of The State of Kentucky lessened its position in EPAM Systems, Inc. (NYSE:EPAM) by 9.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,261 shares of the information technology services provider’s stock after selling 432 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in EPAM Systems were worth $849,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in EPAM Systems by 181.8% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 155 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 100 shares during the period. Farther Finance Advisors LLC grew its position in shares of EPAM Systems by 101.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 211 shares of the information technology services provider’s stock worth $42,000 after buying an additional 106 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of EPAM Systems during the third quarter valued at approximately $44,000. Sentry Investment Management LLC bought a new position in shares of EPAM Systems during the third quarter valued at approximately $52,000. Finally, Continuum Advisory LLC lifted its stake in EPAM Systems by 5,240.0% in the third quarter. Continuum Advisory LLC now owns 267 shares of the information technology services provider’s stock worth $53,000 after acquiring an additional 262 shares during the period. Hedge funds and other institutional investors own 91.58% of the company’s stock.

EPAM Systems Trading Down 3.6 %

EPAM Systems stock opened at $239.11 on Thursday. The business’s fifty day moving average is $223.69 and its 200 day moving average is $205.14. EPAM Systems, Inc. has a one year low of $169.43 and a one year high of $317.50. The stock has a market capitalization of $13.56 billion, a PE ratio of 31.05, a price-to-earnings-growth ratio of 3.87 and a beta of 1.49. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.56 and a quick ratio of 4.56.

Insider Activity at EPAM Systems

In other news, CFO Jason D. Peterson sold 464 shares of the firm’s stock in a transaction dated 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 trade represents a 1.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Viktar Dvorkin sold 6,758 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $256.53, for a total value of $1,733,629.74. Following the transaction, the senior vice president now owns 13,000 shares of the company’s stock, valued at approximately $3,334,890. This trade represents a 34.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,222 shares of company stock worth $2,089,878. 4.30% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on EPAM shares. Needham & Company LLC upped their price objective on shares of EPAM Systems from $215.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Barclays upgraded shares of EPAM Systems from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $250.00 to $290.00 in a report on Tuesday. Scotiabank upgraded EPAM Systems from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $245.00 to $275.00 in a report on Monday, November 11th. Jefferies Financial Group raised their target price on EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 9th. Finally, JPMorgan Chase & Co. increased their price objective on EPAM Systems from $222.00 to $262.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $272.20.

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.