Natixis Advisors LLC Cuts Stock Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Natixis Advisors LLC reduced its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 49.9% in the 4th quarter, HoldingsChannel reports. The firm owned 12,837 shares of the information technology services provider’s stock after selling 12,790 shares during the period. Natixis Advisors LLC’s holdings in EPAM Systems were worth $3,002,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in EPAM. Massachusetts Financial Services Co. MA increased its holdings in EPAM Systems by 643.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 417,526 shares of the information technology services provider’s stock valued at $83,100,000 after buying an additional 361,363 shares in the last quarter. Manning & Napier Advisors LLC increased its holdings in 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 buying an additional 217,960 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in 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 buying an additional 160,989 shares in the last quarter. Raymond James Financial Inc. purchased a new position in EPAM Systems in the fourth quarter valued at about $27,916,000. Finally, Citigroup Inc. increased its holdings in EPAM Systems by 199.5% in the third quarter. Citigroup Inc. now owns 173,721 shares of the information technology services provider’s stock valued at $34,576,000 after buying an additional 115,720 shares in the last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Jason D. Peterson sold 1,078 shares of the firm’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 transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 4.30% of the stock is currently owned by insiders.

EPAM Systems Stock Performance

NYSE:EPAM opened at $175.64 on Monday. The company has a quick ratio of 4.56, a current ratio of 2.96 and a debt-to-equity ratio of 0.01. The company has a market cap of $9.99 billion, a P/E ratio of 22.40, a P/E/G ratio of 3.38 and a beta of 1.61. EPAM Systems, Inc. has a fifty-two week low of $169.43 and a fifty-two week high of $281.62. The firm’s 50 day moving average is $226.19 and its two-hundred day moving average is $221.78.

EPAM Systems (NYSE:EPAM) last posted its quarterly earnings results 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 company had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.21 billion. EPAM Systems had a return on equity of 14.60% and a net margin of 9.61%. Analysts expect that EPAM Systems, Inc. will post 8.9 EPS for the current year.

Wall Street Analysts Forecast Growth

EPAM has been the subject of a number of research analyst reports. Barclays dropped their target price on shares of EPAM Systems from $290.00 to $270.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Jefferies Financial Group lowered their price target on shares of EPAM Systems from $305.00 to $288.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Needham & Company LLC reiterated a “buy” rating and issued a $265.00 price target on shares of EPAM Systems in a research report on Thursday, February 20th. StockNews.com lowered shares of EPAM Systems from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Finally, Morgan Stanley increased their price target 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. Seven research 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 has an average rating of “Moderate Buy” and an average target price of $262.47.

EPAM Systems Company 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.