EPAM Systems, Inc. (NYSE:EPAM) Shares Sold by AXQ Capital LP

AXQ Capital LP lowered its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 10.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 5,398 shares of the information technology services provider’s stock after selling 656 shares during the quarter. AXQ Capital LP’s holdings in EPAM Systems were worth $1,262,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in EPAM. William Blair Investment Management LLC acquired a new stake in EPAM Systems in the fourth quarter valued at $166,906,000. Manning & Napier Advisors LLC boosted its holdings in EPAM Systems by 48.8% in the 4th 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in EPAM Systems by 1.3% in the 4th 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 in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in EPAM Systems by 643.4% in 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 purchasing an additional 361,363 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in shares of EPAM Systems during the 4th quarter valued at approximately $86,699,000. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

EPAM Systems Stock Up 2.0 %

NYSE:EPAM opened at $175.64 on Friday. The firm’s 50 day simple moving average is $226.19 and its 200 day simple moving average is $221.45. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.96 and a quick ratio of 4.56. EPAM Systems, Inc. has a one year low of $169.43 and a one year high of $283.47. The company has a market cap of $9.99 billion, a PE ratio of 22.40, a P/E/G ratio of 3.38 and a beta of 1.61.

EPAM Systems (NYSE:EPAM) last announced its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $2.23 EPS for the quarter, missing analysts’ consensus estimates of $2.75 by ($0.52). The business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.21 billion. EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. On average, research analysts anticipate that EPAM Systems, Inc. will post 8.9 earnings per share for the current year.

Analysts Set New Price Targets

EPAM has been the subject of several research reports. Jefferies Financial Group cut their price objective on EPAM Systems from $305.00 to $288.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $265.00 price target on shares of EPAM Systems in a research report on Thursday, February 20th. Barclays cut their price objective 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. The Goldman Sachs Group upgraded shares of EPAM Systems from a “neutral” rating to a “buy” rating and upped their target price for the company from $235.00 to $295.00 in a research note on Friday, December 6th. Finally, Morgan Stanley increased their price objective on shares of EPAM Systems from $230.00 to $256.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $262.47.

Insiders Place Their Bets

In other EPAM Systems 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 transaction of $277,046.00. Following the sale, the chief financial officer now directly owns 23,382 shares of the company’s stock, valued at $6,009,174. This represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 4.30% of the company’s stock.

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.