First Trust Direct Indexing L.P. Acquires Shares of 777 EPAM Systems, Inc. (NYSE:EPAM)

First Trust Direct Indexing L.P. bought a new stake in EPAM Systems, Inc. (NYSE:EPAM) during the fourth quarter, HoldingsChannel.com reports. The firm bought 777 shares of the information technology services provider’s stock, valued at approximately $231,000.

Several other hedge funds and other institutional investors also recently modified their holdings of EPAM. International Assets Investment Management LLC bought a new position in EPAM Systems in the fourth quarter valued at about $663,080,000. Royal Bank of Canada grew its holdings in shares of EPAM Systems by 265.7% during the 3rd quarter. Royal Bank of Canada now owns 183,284 shares of the information technology services provider’s stock valued at $46,864,000 after purchasing an additional 133,163 shares during the last quarter. Lone Pine Capital LLC lifted its stake in EPAM Systems by 9.2% in the 3rd quarter. Lone Pine Capital LLC now owns 1,054,229 shares of the information technology services provider’s stock valued at $269,556,000 after purchasing an additional 88,641 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in EPAM Systems by 95.8% in the third quarter. Envestnet Asset Management Inc. now owns 166,346 shares of the information technology services provider’s stock valued at $42,533,000 after buying an additional 81,386 shares in the last quarter. Finally, Wellington Management Group LLP bought a new stake in shares of EPAM Systems during the third quarter worth $13,402,000. Institutional investors own 91.58% of the company’s stock.

Insider Buying and Selling at EPAM Systems

In other news, EVP Balazs Fejes sold 3,470 shares of EPAM Systems stock in a transaction dated Monday, February 26th. The shares were 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 directly owns 13,334 shares in the company, valued at $4,025,934.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Balazs Fejes sold 3,470 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was 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 $4,025,934.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Lawrence F. Solomon sold 5,350 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $306.00, for a total value of $1,637,100.00. Following the sale, the senior vice president now owns 12,117 shares of the company’s stock, valued at approximately $3,707,802. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,820 shares of company stock worth $5,101,117. 4.30% of the stock is owned by corporate insiders.

EPAM Systems Price Performance

Shares of NYSE EPAM opened at $249.72 on Wednesday. The company has a current ratio of 4.79, a quick ratio of 4.79 and a debt-to-equity ratio of 0.01. The firm’s 50-day moving average price is $272.17 and its 200-day moving average price is $273.96. The firm has a market capitalization of $14.48 billion, a P/E ratio of 35.32, a P/E/G ratio of 10.58 and a beta of 1.46. EPAM Systems, Inc. has a 1-year low of $197.99 and a 1-year 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, topping the consensus estimate 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%. The company’s quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.71 earnings per share. Equities research analysts anticipate that EPAM Systems, Inc. will post 7.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on EPAM. Citigroup reduced their price objective on EPAM Systems from $325.00 to $275.00 and set a “neutral” rating on the stock in a research report on Monday, April 22nd. JPMorgan Chase & Co. dropped their price objective on shares of EPAM Systems from $331.00 to $311.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Wedbush reissued an “outperform” rating and set a $340.00 target price on shares of EPAM Systems in a report on Wednesday, April 10th. Needham & Company LLC raised their price target on shares of EPAM Systems from $295.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Finally, Stifel Nicolaus boosted their price objective on shares of EPAM Systems from $288.00 to $301.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, EPAM Systems presently has a consensus rating of “Moderate Buy” and an average target price of $315.60.

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.