Ilmarinen Mutual Pension Insurance Co Takes Position in EPAM Systems, Inc. (NYSE:EPAM)

Ilmarinen Mutual Pension Insurance Co acquired a new stake in shares of EPAM Systems, Inc. (NYSE:EPAM) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 7,500 shares of the information technology services provider’s stock, valued at approximately $1,754,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EPAM. Centre Asset Management LLC bought a new stake in EPAM Systems in the 4th quarter worth approximately $8,757,000. Oliver Luxxe Assets LLC purchased a new position in shares of EPAM Systems in the 4th quarter worth $1,889,000. iA Global Asset Management Inc. grew its holdings in shares of EPAM Systems by 165.2% in the third quarter. iA Global Asset Management Inc. now owns 3,700 shares of the information technology services provider’s stock worth $736,000 after acquiring an additional 2,305 shares during the period. DnB Asset Management AS increased its position in EPAM Systems by 26.4% during the fourth quarter. DnB Asset Management AS now owns 11,245 shares of the information technology services provider’s stock valued at $2,629,000 after acquiring an additional 2,349 shares during the last quarter. Finally, Merit Financial Group LLC bought a new position in EPAM Systems in the fourth quarter valued at about $245,000. Institutional investors own 91.58% of the company’s stock.

Insiders Place Their Bets

In other EPAM Systems news, CFO Jason D. Peterson sold 1,078 shares of EPAM Systems stock in a transaction that occurred on Monday, January 27th. The stock was 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 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 legal filing with the SEC, which is available through the SEC website. Corporate insiders own 4.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on EPAM shares. Barclays reduced their price target on shares of EPAM Systems from $290.00 to $270.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Morgan Stanley boosted their target price on shares of EPAM Systems from $230.00 to $256.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. StockNews.com upgraded shares of EPAM Systems from a “hold” rating to a “buy” rating in a research report on Friday. Needham & Company LLC reissued a “buy” rating and set a $265.00 price objective on shares of EPAM Systems in a research report on Thursday, February 20th. Finally, Jefferies Financial Group reduced their price objective 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. Six equities research 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 stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $257.31.

EPAM Systems Stock Down 7.0 %

Shares of EPAM opened at $144.73 on Friday. The business’s 50 day moving average is $213.08 and its 200 day moving average is $219.17. The company has a current ratio of 2.96, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01. EPAM Systems, Inc. has a 12-month low of $144.00 and a 12-month high of $275.49. The company has a market capitalization of $8.23 billion, a PE ratio of 18.46, a price-to-earnings-growth ratio of 3.38 and a beta of 1.61.

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 (EPS) for the quarter, missing the consensus estimate of $2.75 by ($0.52). EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.21 billion. Research analysts expect that EPAM Systems, Inc. will post 8.9 earnings per share for the current fiscal year.

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.