CIBC Asset Management Inc Sells 375 Shares of EPAM Systems, Inc. (NYSE:EPAM)

CIBC Asset Management Inc cut its holdings in EPAM Systems, Inc. (NYSE:EPAMFree Report) by 4.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,893 shares of the information technology services provider’s stock after selling 375 shares during the period. CIBC Asset Management Inc’s holdings in EPAM Systems were worth $2,347,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. NEOS Investment Management LLC bought a new position in EPAM Systems during the fourth quarter valued at about $243,000. The Manufacturers Life Insurance Company increased its stake in EPAM Systems by 6.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 42,683 shares of the information technology services provider’s stock valued at $12,691,000 after acquiring an additional 2,702 shares during the period. APG Asset Management US Inc. bought a new position in EPAM Systems during the fourth quarter valued at about $3,434,000. California State Teachers Retirement System increased its stake in EPAM Systems by 1.1% during the fourth quarter. California State Teachers Retirement System now owns 90,276 shares of the information technology services provider’s stock valued at $26,843,000 after acquiring an additional 979 shares during the period. Finally, Alberta Investment Management Corp increased its stake in EPAM Systems by 46.1% during the fourth quarter. Alberta Investment Management Corp now owns 18,911 shares of the information technology services provider’s stock valued at $5,623,000 after acquiring an additional 5,971 shares during the period. 91.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on EPAM. Barclays lowered their price target on EPAM Systems from $265.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Monday, May 13th. 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. Redburn Atlantic began coverage on EPAM Systems in a report on Friday, May 24th. They set a “neutral” rating and a $195.00 price objective on the stock. Wolfe Research downgraded EPAM Systems from an “outperform” rating to a “peer perform” rating in a report on Friday, May 17th. Finally, JPMorgan Chase & Co. decreased their price objective on EPAM Systems from $331.00 to $311.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, EPAM Systems has an average rating of “Moderate Buy” and a consensus price target of $277.65.

Get Our Latest Stock Report on EPAM Systems

EPAM Systems Stock Performance

EPAM stock opened at $176.98 on Friday. The company has a 50 day moving average price of $223.82 and a 200 day moving average price of $266.17. The stock has a market capitalization of $10.26 billion, a PE ratio of 24.21, a price-to-earnings-growth ratio of 4.00 and a beta of 1.42. EPAM Systems, Inc. has a fifty-two week low of $172.95 and a fifty-two week high of $317.50. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.68 and a quick ratio of 4.68.

EPAM Systems (NYSE:EPAMGet Free Report) last issued its earnings results on Thursday, May 9th. The information technology services provider reported $1.86 EPS for the quarter, beating the consensus estimate of $1.77 by $0.09. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. EPAM Systems had a net margin of 9.28% and a return on equity of 14.95%. Analysts forecast that EPAM Systems, Inc. will post 7.87 EPS for the current year.

Insider Activity at EPAM Systems

In related news, SVP Sergey Yezhkov sold 8,000 shares of the company’s stock in a transaction 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 completion of 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 SEC, which is available through this link. 4.30% of the stock is owned by corporate insiders.

About EPAM Systems

(Free Report)

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.

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Institutional Ownership by Quarter for EPAM Systems (NYSE:EPAM)

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