EPAM Systems, Inc. (NYSE:EPAM) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. trimmed its stake in shares of EPAM Systems, Inc. (NYSE:EPAM) by 21.6% during the fourth quarter, Holdings Channel reports. The firm owned 3,792 shares of the information technology services provider’s stock after selling 1,042 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in EPAM Systems were worth $887,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in EPAM. Quest Partners LLC raised its position in shares of EPAM Systems by 36.7% during the 3rd quarter. Quest Partners LLC now owns 645 shares of the information technology services provider’s stock worth $128,000 after purchasing an additional 173 shares during the period. Pathstone Holdings LLC increased its position in EPAM Systems by 32.6% in the 3rd quarter. Pathstone Holdings LLC now owns 14,249 shares of the information technology services provider’s stock valued at $2,836,000 after acquiring an additional 3,507 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in EPAM Systems in the 3rd quarter valued at approximately $291,000. PNC Financial Services Group Inc. increased its position in EPAM Systems by 10.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 15,448 shares of the information technology services provider’s stock valued at $3,075,000 after acquiring an additional 1,414 shares during the period. Finally, Commerce Bank increased its position in EPAM Systems by 3.3% in the 3rd quarter. Commerce Bank now owns 3,381 shares of the information technology services provider’s stock valued at $673,000 after acquiring an additional 109 shares during the period. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. 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 research report on Tuesday, January 21st. Morgan Stanley raised their target price on EPAM Systems from $230.00 to $256.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Barclays lowered their target price on EPAM Systems from $290.00 to $270.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Needham & Company LLC reiterated a “buy” rating and set a $265.00 price target on shares of EPAM Systems in a research report on Thursday, February 20th. Finally, The Goldman Sachs Group upgraded EPAM Systems from a “neutral” rating to a “buy” rating and lifted their price target for the company from $235.00 to $295.00 in a research report on Friday, December 6th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $262.47.

Insider Activity at EPAM Systems

In related news, CFO Jason D. Peterson sold 1,078 shares of EPAM Systems 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 sale, the chief financial officer now owns 23,382 shares of the company’s stock, valued at approximately $6,009,174. This trade 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 accessible through the SEC website. Insiders own 4.30% of the company’s stock.

EPAM Systems Stock Performance

Shares of EPAM Systems stock opened at $175.64 on Monday. The stock has a market cap of $9.99 billion, a PE ratio of 22.40, a price-to-earnings-growth ratio of 3.38 and a beta of 1.61. The business has a fifty day simple moving average of $226.19 and a 200-day simple moving average of $221.78. The company has a quick ratio of 4.56, a current ratio of 2.96 and a debt-to-equity ratio of 0.01. EPAM Systems, Inc. has a 12 month low of $169.43 and a 12 month high of $281.62.

EPAM Systems (NYSE:EPAM) last issued its earnings results on Thursday, February 20th. The information technology services provider reported $2.23 EPS for the quarter, missing the consensus estimate of $2.75 by ($0.52). The business had revenue of $1.25 billion during the quarter, compared to analyst estimates 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 EPS for the current fiscal 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.