Prudential Financial Inc. Sells 3,437 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Prudential Financial Inc. lessened its stake in EPAM Systems, Inc. (NYSE:EPAM) by 9.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,435 shares of the information technology services provider’s stock after selling 3,437 shares during the quarter. Prudential Financial Inc. owned 0.06% of EPAM Systems worth $7,617,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Centre Asset Management LLC bought a new stake in shares of EPAM Systems in the 4th quarter worth $8,757,000. Oliver Luxxe Assets LLC bought a new stake in EPAM Systems in the 4th quarter worth about $1,889,000. iA Global Asset Management Inc. raised its position in EPAM Systems by 165.2% in the 3rd quarter. iA Global Asset Management Inc. now owns 3,700 shares of the information technology services provider’s stock worth $736,000 after buying an additional 2,305 shares during the last quarter. Merit Financial Group LLC bought a new position in EPAM Systems during the 4th quarter valued at about $245,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of EPAM Systems by 21.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 45,188 shares of the information technology services provider’s stock valued at $8,994,000 after acquiring an additional 7,885 shares during the last quarter. Institutional investors own 91.58% of the company’s stock.

EPAM Systems Trading Down 3.2 %

Shares of EPAM Systems stock opened at $168.72 on Friday. EPAM Systems, Inc. has a fifty-two week low of $167.00 and a fifty-two week high of $277.04. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 2.96. The company has a market capitalization of $9.60 billion, a P/E ratio of 21.52, a P/E/G ratio of 3.38 and a beta of 1.61. The company has a fifty day moving average of $220.95 and a 200 day moving average of $220.62.

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on EPAM. StockNews.com cut shares of EPAM Systems from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Barclays lowered their price target on EPAM Systems from $290.00 to $270.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Scotiabank reduced their price objective on EPAM Systems from $275.00 to $250.00 and set a “sector outperform” rating for the company in a research report on Monday, February 24th. Jefferies Financial Group lowered their target price on EPAM Systems from $305.00 to $288.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. Finally, Morgan Stanley boosted their price target on EPAM Systems from $230.00 to $256.00 and gave the company 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 stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $262.47.

Insider Buying and Selling at EPAM Systems

In other EPAM Systems news, CFO Jason D. Peterson sold 1,078 shares of the business’s stock in a transaction 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 sale, the chief financial officer now owns 23,382 shares in the company, valued at $6,009,174. The trade was a 4.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.30% of the company’s stock.

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.