EPAM Systems, Inc. (NYSE:EPAM) Shares Bought by Cibc World Markets Corp

Cibc World Markets Corp raised its holdings in EPAM Systems, Inc. (NYSE:EPAM) by 14.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,938 shares of the information technology services provider’s stock after purchasing an additional 1,111 shares during the quarter. Cibc World Markets Corp’s holdings in EPAM Systems were worth $2,090,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Manning & Napier Advisors LLC increased its stake 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 valued at $155,323,000 after purchasing an additional 217,960 shares during the period. Charles Schwab Investment Management Inc. increased its stake in EPAM Systems by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 522,144 shares of the information technology services provider’s stock valued at $122,088,000 after purchasing an additional 6,793 shares during the period. Massachusetts Financial Services Co. MA increased its stake in EPAM Systems by 643.4% in the third 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 purchasing an additional 361,363 shares during the period. Assenagon Asset Management S.A. increased its stake in 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. Finally, Jacobs Levy Equity Management Inc. increased its stake in EPAM Systems by 3.0% in the third 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 during the period. 91.58% of the stock is currently owned by institutional investors and hedge funds.

EPAM Systems Stock Up 2.0 %

Shares of NYSE EPAM opened at $175.64 on Friday. EPAM Systems, Inc. has a 12-month low of $169.43 and a 12-month high of $283.47. The company has a market capitalization of $9.99 billion, a PE ratio of 22.40, a price-to-earnings-growth ratio of 3.38 and a beta of 1.61. 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’s 50-day moving average is $226.19 and its two-hundred day moving average is $221.45.

EPAM Systems (NYSE:EPAM) last announced 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). The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.21 billion. EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. Equities analysts anticipate that EPAM Systems, Inc. will post 8.9 EPS for the current fiscal year.

Analyst Ratings Changes

EPAM has been the topic of a number of recent research reports. The Goldman Sachs Group upgraded shares of EPAM Systems from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $235.00 to $295.00 in a research note on Friday, December 6th. Morgan Stanley lifted their target price on shares of EPAM Systems from $230.00 to $256.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Barclays lowered their target price on shares of EPAM Systems from $290.00 to $270.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $265.00 target price on shares of EPAM Systems in a report on Thursday, February 20th. Finally, Scotiabank lowered their target price on shares of 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 analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, EPAM Systems has a consensus rating of “Moderate Buy” and an average target price of $262.47.

Insider Activity

In other news, CFO Jason D. Peterson sold 1,078 shares of the business’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 value of $277,046.00. Following the completion of the transaction, the chief financial officer now owns 23,382 shares of the company’s stock, valued at $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 available at the SEC website. Company insiders own 4.30% of the company’s stock.

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.