Fred Alger Management LLC Lowers Stock Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Fred Alger Management LLC decreased its position in shares of EPAM Systems, Inc. (NYSE:EPAM – Get Rating) by 65.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,668 shares of the information technology services provider’s stock after selling 59,201 shares during the period. Fred Alger Management LLC owned approximately 0.05% of EPAM Systems worth $11,108,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Cetera Advisor Networks LLC increased its holdings in shares of EPAM Systems by 36.0% in the first quarter. Cetera Advisor Networks LLC now owns 842 shares of the information technology services provider’s stock worth $250,000 after buying an additional 223 shares during the period. Private Advisor Group LLC increased its holdings in shares of EPAM Systems by 14.4% in the first quarter. Private Advisor Group LLC now owns 1,034 shares of the information technology services provider’s stock worth $307,000 after buying an additional 130 shares during the period. Panagora Asset Management Inc. increased its holdings in shares of EPAM Systems by 100.7% in the first quarter. Panagora Asset Management Inc. now owns 2,413 shares of the information technology services provider’s stock worth $716,000 after buying an additional 1,211 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of EPAM Systems by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,589 shares of the information technology services provider’s stock worth $2,251,000 after buying an additional 470 shares during the period. Finally, Blair William & Co. IL increased its holdings in EPAM Systems by 0.4% during the 1st quarter. Blair William & Co. IL now owns 17,528 shares of the information technology services provider’s stock valued at $5,199,000 after purchasing an additional 68 shares during the period. Hedge funds and other institutional investors own 92.29% of the company’s stock.

EPAM Systems Stock Performance

Shares of EPAM opened at $285.50 on Wednesday. The company has a quick ratio of 3.69, a current ratio of 3.69 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average price is $333.94 and its 200-day moving average price is $348.93. EPAM Systems, Inc. has a 52 week low of $210.92 and a 52 week high of $462.99. The stock has a market cap of $16.47 billion, a P/E ratio of 39.64, a P/E/G ratio of 1.89 and a beta of 1.57.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on EPAM. Susquehanna reduced their price target on EPAM Systems from $462.00 to $410.00 and set a “positive” rating on the stock in a report on Friday, February 17th. Wolfe Research downgraded EPAM Systems from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 5th. Barclays reduced their price target on EPAM Systems from $400.00 to $380.00 and set an “overweight” rating on the stock in a report on Tuesday, February 21st. Cowen downgraded EPAM Systems from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $390.00 to $370.00 in a report on Friday, February 17th. Finally, Cowen downgraded EPAM Systems from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $390.00 to $370.00 in a report on Friday, February 17th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, EPAM Systems currently has an average rating of “Moderate Buy” and a consensus price target of $402.14.

EPAM Systems Company Profile

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EPAM Systems, Inc engages in the provision of software product development and digital platform engineering services. It operates through the following geographical segments: North America, Europe, and Russia. The company was founded by Leonid Lozner and Arkadiy Dobkin in 1993 and is headquartered in Newtown, PA.