Truist Financial Corp Sells 112 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Truist Financial Corp lowered its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM) by 1.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 8,876 shares of the information technology services provider’s stock after selling 112 shares during the quarter. Truist Financial Corp’s holdings in EPAM Systems were worth $2,639,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of EPAM Systems by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 6,791,017 shares of the information technology services provider’s stock valued at $1,736,395,000 after acquiring an additional 19,130 shares during the last quarter. Lone Pine Capital LLC boosted its holdings in shares of 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 worth $269,556,000 after purchasing an additional 88,641 shares during the period. Northern Trust Corp increased its position in shares of EPAM Systems by 6.2% during the 3rd quarter. Northern Trust Corp now owns 716,659 shares of the information technology services provider’s stock valued at $183,243,000 after purchasing an additional 42,077 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in EPAM Systems by 1.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 398,400 shares of the information technology services provider’s stock valued at $101,867,000 after buying an additional 4,888 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp raised its holdings in EPAM Systems by 11.7% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 385,135 shares of the information technology services provider’s stock valued at $98,475,000 after buying an additional 40,343 shares during the period. 91.58% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Sergey Yezhkov sold 8,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the senior vice president now directly owns 12,770 shares of the company’s stock, valued at approximately $3,857,050.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other EPAM Systems news, SVP Lawrence F. Solomon sold 5,350 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $306.00, for a total value of $1,637,100.00. Following the completion of the sale, the senior vice president now directly owns 12,117 shares in the company, valued at $3,707,802. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Sergey Yezhkov sold 8,000 shares of the company’s stock in a transaction on 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 transaction, the senior vice president now directly owns 12,770 shares in the company, valued at $3,857,050.80. The disclosure for this sale can be found here. Insiders sold a total of 16,820 shares of company stock worth $5,101,117 over the last 90 days. Company insiders own 4.30% of the company’s stock.

EPAM Systems Stock Down 0.1 %

NYSE:EPAM opened at $249.20 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.79 and a quick ratio of 4.79. EPAM Systems, Inc. has a 1-year low of $197.99 and a 1-year high of $317.50. The company has a 50-day moving average of $271.04 and a 200 day moving average of $273.78. The firm has a market cap of $14.45 billion, a PE ratio of 35.25, a price-to-earnings-growth ratio of 10.58 and a beta of 1.46.

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 for the quarter, topping the consensus estimate of $2.51 by $0.24. EPAM Systems had a net margin of 8.89% and a return on equity of 15.53%. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the prior year, the company earned $2.71 EPS. The company’s revenue was down 6.0% compared to the same quarter last year. As a group, research analysts anticipate that EPAM Systems, Inc. will post 7.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

EPAM has been the topic of a number of analyst reports. Citigroup cut their price objective on shares of EPAM Systems from $325.00 to $275.00 and set a “neutral” rating on the stock in a research report on Monday, April 22nd. Scotiabank reduced their price objective on shares of EPAM Systems from $350.00 to $300.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 29th. Piper Sandler dropped their target price on EPAM Systems from $369.00 to $317.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Guggenheim initiated coverage on EPAM Systems in a report on Tuesday, March 19th. They issued a “buy” rating and a $350.00 price target on the stock. Finally, Susquehanna boosted their price objective on EPAM Systems from $300.00 to $360.00 and gave the company a “positive” rating in a report on Friday, February 16th. One equities research 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $315.60.

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.