Korea Investment CORP Grows Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Korea Investment CORP raised its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 50.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 65,200 shares of the information technology services provider’s stock after purchasing an additional 21,807 shares during the quarter. Korea Investment CORP owned 0.11% of EPAM Systems worth $15,245,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC lifted its stake in shares of EPAM Systems by 90.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 54 shares in the last quarter. TD Private Client Wealth LLC lifted its position in shares of EPAM Systems by 88.5% in the fourth quarter. TD Private Client Wealth LLC now owns 147 shares of the information technology services provider’s stock valued at $34,000 after acquiring an additional 69 shares in the last quarter. Versant Capital Management Inc bought a new position in shares of EPAM Systems in the fourth quarter worth about $35,000. Manchester Capital Management LLC grew its position in shares of EPAM Systems by 590.0% during the fourth quarter. Manchester Capital Management LLC now owns 207 shares of the information technology services provider’s stock worth $48,000 after purchasing an additional 177 shares in the last quarter. Finally, Continuum Advisory LLC grew its position in shares of EPAM Systems by 5,240.0% during the third quarter. Continuum Advisory LLC now owns 267 shares of the information technology services provider’s stock worth $53,000 after purchasing an additional 262 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors.

EPAM Systems Stock Down 3.2 %

Shares of EPAM opened at $168.72 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 business has a fifty day moving average of $220.95 and a 200 day moving average of $220.74. The company has a market cap of $9.60 billion, a PE ratio of 21.52, a P/E/G ratio of 3.38 and a beta of 1.61. EPAM Systems, Inc. has a 52-week low of $167.00 and a 52-week high of $277.04.

EPAM Systems (NYSE:EPAM) last released its earnings results 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 return on equity of 14.60% and a net margin of 9.61%. The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.21 billion. On average, sell-side analysts expect that EPAM Systems, Inc. will post 8.9 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Barclays dropped their price target on EPAM Systems from $290.00 to $270.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. StockNews.com cut shares of EPAM Systems from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Jefferies Financial Group decreased 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 note on Tuesday, January 21st. The Goldman Sachs Group upgraded EPAM Systems from a “neutral” rating to a “buy” rating and raised their price objective for the company from $235.00 to $295.00 in a research report on Friday, December 6th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $265.00 target price on shares of EPAM Systems in a research report on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, EPAM Systems has a consensus rating of “Moderate Buy” and a consensus target price of $262.47.

Insider Buying and Selling

In other news, CFO Jason D. Peterson sold 1,078 shares of the company’s stock in a transaction dated 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 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.30% of the stock is owned by corporate insiders.

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.