Geode Capital Management LLC Has $314.62 Million Stake in EPAM Systems, Inc. (NYSE:EPAM)

Geode Capital Management LLC increased its stake in EPAM Systems, Inc. (NYSE:EPAM) by 2.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,349,088 shares of the information technology services provider’s stock after purchasing an additional 37,119 shares during the quarter. Geode Capital Management LLC owned approximately 2.38% of EPAM Systems worth $314,616,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of EPAM Systems in the fourth quarter worth $173,053,000. William Blair Investment Management LLC acquired a new position in EPAM Systems during the 4th quarter worth $166,906,000. Teacher Retirement System of Texas bought a new stake in EPAM Systems during the fourth quarter valued at about $86,699,000. Manning & Napier Advisors LLC increased its stake 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 worth $155,323,000 after purchasing an additional 217,960 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of EPAM Systems by 1,813.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 142,742 shares of the information technology services provider’s stock worth $33,376,000 after purchasing an additional 135,283 shares during the last quarter. Institutional investors own 91.58% of the company’s stock.

EPAM Systems Stock Down 7.0 %

Shares of NYSE:EPAM opened at $144.73 on Friday. The company’s fifty day moving average is $213.08 and its 200-day moving average is $219.04. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 2.96. EPAM Systems, Inc. has a 52 week low of $144.00 and a 52 week high of $275.49. The company has a market capitalization of $8.23 billion, a PE ratio of 18.46, a P/E/G ratio of 3.38 and a beta of 1.61.

EPAM Systems (NYSE:EPAM) last released 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). EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.21 billion. Equities research analysts predict that EPAM Systems, Inc. will post 8.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Jason D. Peterson sold 1,078 shares of the company’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 transaction of $277,046.00. Following the transaction, the chief financial officer now directly owns 23,382 shares in the company, valued at approximately $6,009,174. This represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.30% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on EPAM. Jefferies Financial Group dropped their price target on EPAM Systems from $305.00 to $288.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. 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. StockNews.com raised shares of EPAM Systems from a “hold” rating to a “buy” rating in a report on Friday. Barclays dropped 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. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $265.00 target price on shares of EPAM Systems in a research note on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $257.31.

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.