KBC Group NV Increases Stock Position in EPAM Systems, Inc. (NYSE:EPAM)

KBC Group NV increased its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM) by 399.1% in the fourth quarter, Holdings Channel reports. The firm owned 116,350 shares of the information technology services provider’s stock after acquiring an additional 93,039 shares during the period. KBC Group NV’s holdings in EPAM Systems were worth $27,205,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its holdings in EPAM Systems by 45.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 515,351 shares of the information technology services provider’s stock worth $102,570,000 after acquiring an additional 160,989 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of EPAM Systems by 643.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 417,526 shares of the information technology services provider’s stock worth $83,100,000 after purchasing an additional 361,363 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of EPAM Systems by 10.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 346,201 shares of the information technology services provider’s stock valued at $80,949,000 after purchasing an additional 33,715 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in EPAM Systems by 3.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 308,498 shares of the information technology services provider’s stock valued at $61,400,000 after purchasing an additional 8,959 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in EPAM Systems by 8.5% during the 3rd quarter. Wellington Management Group LLP now owns 214,294 shares of the information technology services provider’s stock worth $42,651,000 after buying an additional 16,757 shares during the period. Institutional investors and hedge funds own 91.58% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on EPAM. Jefferies Financial Group lowered their target price on EPAM Systems from $305.00 to $288.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Needham & Company LLC lifted their price objective on EPAM Systems from $215.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Mizuho increased their target price on EPAM Systems from $245.00 to $282.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Barclays raised shares of EPAM Systems from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $250.00 to $290.00 in a research report on Tuesday, December 17th. Finally, Citigroup upped their price target on shares of EPAM Systems from $207.00 to $210.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $269.84.

Insider Transactions at EPAM Systems

In other news, CFO Jason D. Peterson sold 1,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $237.00, for a total transaction of $237,000.00. Following the transaction, the chief financial officer now directly owns 24,836 shares of the company’s stock, valued at approximately $5,886,132. This trade represents a 3.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Viktar Dvorkin sold 6,758 shares of the stock in a transaction dated Wednesday, December 11th. The shares were 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 owns 13,000 shares of the company’s stock, valued at $3,334,890. This represents a 34.20 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,222 shares of company stock worth $2,089,878. Insiders own 4.30% of the company’s stock.

EPAM Systems Price Performance

Shares of EPAM opened at $255.48 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.56 and a quick ratio of 4.56. The company has a market cap of $14.49 billion, a P/E ratio of 33.18, a PEG ratio of 3.48 and a beta of 1.50. EPAM Systems, Inc. has a 12 month low of $169.43 and a 12 month high of $317.50. The stock has a fifty day moving average price of $240.01 and a 200 day moving average price of $216.64.

EPAM Systems Company 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.