New York State Common Retirement Fund Sells 5,973 Shares of EPAM Systems, Inc. (NYSE:EPAM)

New York State Common Retirement Fund decreased its stake in EPAM Systems, Inc. (NYSE:EPAM) by 9.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 55,577 shares of the information technology services provider’s stock after selling 5,973 shares during the period. New York State Common Retirement Fund’s holdings in EPAM Systems were worth $16,525,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Duality Advisers LP raised its position in shares of EPAM Systems by 237.5% in the fourth quarter. Duality Advisers LP now owns 6,693 shares of the information technology services provider’s stock valued at $1,990,000 after purchasing an additional 4,710 shares during the period. Foundry Partners LLC purchased a new stake in shares of EPAM Systems in the 4th quarter valued at $202,000. OLD National Bancorp IN bought a new stake in EPAM Systems during the 4th quarter valued at $220,000. abrdn plc raised its holdings in EPAM Systems by 70.8% during the 4th quarter. abrdn plc now owns 27,855 shares of the information technology services provider’s stock valued at $8,282,000 after buying an additional 11,549 shares during the last quarter. Finally, Calamos Advisors LLC bought a new position in EPAM Systems in the 4th quarter worth $1,338,000. Institutional investors own 91.58% of the company’s stock.

Insider Activity

In other news, EVP Balazs Fejes sold 3,470 shares of the stock in a transaction that occurred on 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 transaction, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Sergey Yezhkov sold 8,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $302.04, for a total value of $2,416,320.00. Following the transaction, the senior vice president now owns 12,770 shares in the company, valued at approximately $3,857,050.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Balazs Fejes sold 3,470 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 13,334 shares in the company, valued at approximately $4,025,934.62. The disclosure for this sale can be found here. Insiders have sold a total of 16,820 shares of company stock valued at $5,101,117 in the last 90 days. 4.30% of the stock is currently owned by insiders.

EPAM Systems Stock Performance

Shares of NYSE EPAM opened at $237.75 on Monday. The firm’s 50-day moving average price is $280.94 and its 200-day moving average price is $273.73. The company has a quick ratio of 4.79, a current ratio of 4.79 and a debt-to-equity ratio of 0.01. The company has a market cap of $13.79 billion, a PE ratio of 33.63, a PEG ratio of 10.37 and a beta of 1.43. EPAM Systems, Inc. has a 52-week low of $197.99 and a 52-week high of $317.50.

EPAM Systems (NYSE:EPAM) last announced its quarterly earnings results on Thursday, February 15th. The information technology services provider reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.51 by $0.24. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.14 billion. EPAM Systems had a net margin of 8.89% and a return on equity of 15.53%. The business’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.71 EPS. As a group, analysts anticipate that EPAM Systems, Inc. will post 7.72 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wolfe Research raised shares of EPAM Systems from a “peer perform” rating to an “outperform” rating and set a $355.00 target price on the stock in a research report on Thursday, January 4th. Morgan Stanley raised shares of EPAM Systems from an “underweight” rating to an “equal weight” rating and reduced their target price for the stock from $236.00 to $225.00 in a research report on Friday. Wedbush reaffirmed an “outperform” rating and issued a $340.00 target price on shares of EPAM Systems in a research report on Wednesday, April 10th. Barclays reduced their target price on shares of EPAM Systems from $315.00 to $265.00 and set an “equal weight” rating on the stock in a research report on Friday. Finally, Needham & Company LLC increased their price objective on shares of EPAM Systems from $295.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. One analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $323.93.

EPAM Systems 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.