Mirae Asset Global Investments Co. Ltd. Has $3 Million Position in EPAM Systems, Inc. (NYSE:EPAM)

Mirae Asset Global Investments Co. Ltd. reduced its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 1.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 10,087 shares of the information technology services provider’s stock after selling 126 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in EPAM Systems were worth $2,999,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in EPAM. Norges Bank acquired a new stake in EPAM Systems during the 4th quarter worth approximately $181,396,000. International Assets Investment Management LLC acquired a new stake in EPAM Systems during the 4th quarter worth approximately $663,080,000. State Street Corp lifted its holdings in EPAM Systems by 9.1% during the 1st quarter. State Street Corp now owns 2,471,924 shares of the information technology services provider’s stock worth $733,197,000 after purchasing an additional 206,636 shares during the last quarter. Westfield Capital Management Co. LP acquired a new stake in EPAM Systems during the 1st quarter worth approximately $58,916,000. Finally, Renaissance Technologies LLC acquired a new stake in EPAM Systems during the 1st quarter worth approximately $49,335,000. 91.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EPAM has been the subject of several analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $340.00 price objective on shares of EPAM Systems in a report on Wednesday, April 10th. Wolfe Research raised EPAM Systems from a “peer perform” rating to an “outperform” rating and set a $355.00 price objective for the company in a report on Thursday, January 4th. HSBC dropped their price objective on EPAM Systems from $350.00 to $345.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. Guggenheim initiated coverage on EPAM Systems in a report on Tuesday, March 19th. They issued a “buy” rating and a $350.00 price objective for the company. Finally, Stifel Nicolaus lifted their price objective on EPAM Systems from $288.00 to $301.00 and gave the company a “buy” rating in a report on Monday, February 12th. Two analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, EPAM Systems presently has an average rating of “Moderate Buy” and a consensus price target of $331.33.

EPAM Systems Price Performance

EPAM Systems stock opened at $249.09 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.79 and a current ratio of 4.79. EPAM Systems, Inc. has a 52 week low of $197.99 and a 52 week high of $317.50. The stock has a market capitalization of $14.40 billion, a P/E ratio of 35.23, a price-to-earnings-growth ratio of 11.11 and a beta of 1.43. The stock has a fifty day moving average of $287.35 and a 200-day moving average of $273.57.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings data on Thursday, February 15th. The information technology services provider reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.51 by $0.24. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.14 billion. EPAM Systems had a return on equity of 15.53% and a net margin of 8.89%. EPAM Systems’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.71 EPS. On average, sell-side analysts expect that EPAM Systems, Inc. will post 7.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Balazs Fejes sold 3,470 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $301.93, for a total transaction of $1,047,697.10. Following the sale, the executive vice president now owns 13,334 shares in the company, valued at approximately $4,025,934.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other EPAM Systems news, SVP Sergey Yezhkov sold 8,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $302.04, for a total value of $2,416,320.00. Following the sale, the senior vice president now owns 12,770 shares in the company, valued at approximately $3,857,050.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Balazs Fejes sold 3,470 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $301.93, for a total value of $1,047,697.10. Following the completion of the transaction, the executive vice president now directly owns 13,334 shares in the company, valued at $4,025,934.62. The disclosure for this sale can be found here. Insiders have sold 16,820 shares of company stock worth $5,101,117 in the last 90 days. Insiders own 3.20% of the company’s stock.

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.