Harvest Fund Management Co. Ltd Makes New $475,000 Investment in EPAM Systems, Inc. (NYSE:EPAM)

Harvest Fund Management Co. Ltd purchased a new position in shares of EPAM Systems, Inc. (NYSE:EPAM) during the fourth quarter, Holdings Channel reports. The firm purchased 2,035 shares of the information technology services provider’s stock, valued at approximately $475,000.

A number of other hedge funds also recently bought and sold shares of EPAM. William Blair Investment Management LLC purchased a new position in EPAM Systems during the fourth quarter worth approximately $166,906,000. Massachusetts Financial Services Co. MA boosted its position in 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. Manning & Napier Advisors LLC lifted its position in shares of 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 acquiring an additional 217,960 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of EPAM Systems by 45.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 515,351 shares of the information technology services provider’s stock valued at $102,570,000 after acquiring an additional 160,989 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of EPAM Systems in the fourth quarter valued at approximately $27,916,000. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Insider Buying and Selling

In related news, CFO Jason D. Peterson sold 1,078 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $257.00, for a total transaction of $277,046.00. Following the completion of the transaction, the chief financial officer now directly owns 23,382 shares of the company’s stock, valued at $6,009,174. The trade was a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on EPAM. Needham & Company LLC restated a “buy” rating and issued a $265.00 target price on shares of EPAM Systems in a research report on Thursday, February 20th. The Goldman Sachs Group upgraded EPAM Systems from a “neutral” rating to a “buy” rating and raised their target price for the company from $235.00 to $295.00 in a research report on Friday, December 6th. StockNews.com downgraded EPAM Systems from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Scotiabank cut their price target on EPAM Systems from $275.00 to $250.00 and set a “sector outperform” rating for the company in a report on Monday, February 24th. Finally, Barclays cut their price target on EPAM Systems from $290.00 to $270.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $262.47.

EPAM Systems Price Performance

EPAM stock opened at $175.64 on Friday. The company has a current ratio of 2.96, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01. The company has a market capitalization 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, Inc. has a 12-month low of $169.43 and a 12-month high of $283.47. The business’s fifty day moving average price is $226.19 and its 200 day moving average price is $221.45.

EPAM Systems (NYSE:EPAM) last posted its quarterly earnings data 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 firm 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%. On average, sell-side analysts anticipate that EPAM Systems, Inc. will post 8.9 EPS for the current 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.