Nisa Investment Advisors LLC Sells 2,676 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Nisa Investment Advisors LLC reduced its position in EPAM Systems, Inc. (NYSE:EPAM – Get Rating) by 45.2% during the first quarter, HoldingsChannel reports. The fund owned 3,250 shares of the information technology services provider’s stock after selling 2,676 shares during the quarter. Nisa Investment Advisors LLC’s holdings in EPAM Systems were worth $964,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in EPAM. BlackRock Inc. increased its position in shares of EPAM Systems by 31.1% during the fourth quarter. BlackRock Inc. now owns 4,644,619 shares of the information technology services provider’s stock valued at $3,104,696,000 after buying an additional 1,102,837 shares during the period. State Street Corp increased its position in shares of EPAM Systems by 80.3% during the fourth quarter. State Street Corp now owns 2,265,288 shares of the information technology services provider’s stock valued at $1,514,232,000 after buying an additional 1,008,720 shares during the period. Norges Bank bought a new stake in shares of EPAM Systems during the fourth quarter valued at about $333,066,000. Geode Capital Management LLC increased its position in shares of EPAM Systems by 46.2% during the fourth quarter. Geode Capital Management LLC now owns 1,083,728 shares of the information technology services provider’s stock valued at $722,658,000 after buying an additional 342,438 shares during the period. Finally, Alliancebernstein L.P. increased its position in shares of EPAM Systems by 30.6% during the fourth quarter. Alliancebernstein L.P. now owns 1,318,132 shares of the information technology services provider’s stock valued at $881,105,000 after buying an additional 308,920 shares during the period. 95.24% of the stock is currently owned by institutional investors.

EPAM Systems Stock Performance

NYSE:EPAM opened at $323.30 on Friday. The firm has a market cap of $18.48 billion, a PE ratio of 41.40, a price-to-earnings-growth ratio of 2.66 and a beta of 1.76. EPAM Systems, Inc. has a fifty-two week low of $168.59 and a fifty-two week high of $725.40. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.32 and a current ratio of 3.32. The business has a 50 day moving average price of $314.41 and a 200-day moving average price of $341.73.

EPAM Systems (NYSE:EPAM – Get Rating) last released its quarterly earnings data on Thursday, May 5th. The information technology services provider reported $2.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.82. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.06 billion. EPAM Systems had a return on equity of 21.92% and a net margin of 11.14%. The business’s quarterly revenue was up 50.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.63 earnings per share. Equities research analysts predict that EPAM Systems, Inc. will post 7.23 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on EPAM. Susquehanna Bancshares upgraded EPAM Systems to a “positive” rating in a research report on Monday, May 16th. Wedbush upped their price objective on shares of EPAM Systems from $380.00 to $400.00 and gave the stock an “outperform” rating in a research report on Monday, June 6th. Citigroup upped their price objective on shares of EPAM Systems from $325.00 to $380.00 in a research report on Wednesday, April 20th. Susquehanna upgraded shares of EPAM Systems from a “neutral” rating to a “positive” rating and decreased their price objective for the stock from $490.00 to $370.00 in a research report on Monday, May 16th. Finally, StockNews.com began coverage on shares of EPAM Systems in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $431.50.

Insider Activity

In related news, CFO Jason D. Peterson sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $325.00, for a total transaction of $325,000.00. Following the completion of the transaction, the chief financial officer now owns 12,162 shares in the company, valued at $3,952,650. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CFO Jason D. Peterson sold 400 shares of the company’s stock in a transaction that occurred on Friday, May 20th. The stock was sold at an average price of $335.00, for a total transaction of $134,000.00. Following the completion of the transaction, the chief financial officer now owns 11,762 shares in the company, valued at $3,940,270. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Jason D. Peterson sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 11th. The shares were sold at an average price of $325.00, for a total value of $325,000.00. Following the transaction, the chief financial officer now owns 12,162 shares of the company’s stock, valued at approximately $3,952,650. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,500 shares of company stock valued at $493,710. 4.10% of the stock is currently owned by company insiders.

About EPAM Systems

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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, and maintenance with private, public, and mobile infrastructures for application, database, network, server, storage, and systems operations management, as well as monitoring, incident notification, and resolution services; and maintenance and support services.