Envestnet Asset Management Inc. Sells 69,993 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Envestnet Asset Management Inc. lessened its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM) by 49.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 71,320 shares of the information technology services provider’s stock after selling 69,993 shares during the quarter. Envestnet Asset Management Inc. owned about 0.13% of EPAM Systems worth $16,676,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in EPAM Systems by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 1,349,088 shares of the information technology services provider’s stock valued at $314,616,000 after buying an additional 37,119 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in EPAM Systems by 96.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 818,881 shares of the information technology services provider’s stock valued at $191,471,000 after acquiring an additional 401,355 shares during the last quarter. Norges Bank purchased a new stake in shares of EPAM Systems in the fourth quarter valued at $173,053,000. William Blair Investment Management LLC purchased a new position in shares of EPAM Systems during the fourth quarter valued at approximately $166,906,000. Finally, Manning & Napier Advisors LLC raised its holdings in shares of EPAM Systems by 48.8% in the fourth quarter. Manning & Napier Advisors LLC now owns 664,286 shares of the information technology services provider’s stock worth $155,323,000 after buying an additional 217,960 shares during the period. 91.58% of the stock is owned by hedge funds and other institutional investors.

EPAM Systems Stock Down 0.3 %

EPAM Systems stock opened at $151.56 on Wednesday. The company has a quick ratio of 4.56, a current ratio of 2.96 and a debt-to-equity ratio of 0.01. The business’s 50-day moving average price is $194.04 and its 200 day moving average price is $215.97. EPAM Systems, Inc. has a 52 week low of $138.15 and a 52 week high of $269.00. The firm has a market cap of $8.65 billion, a price-to-earnings ratio of 19.33, a price-to-earnings-growth ratio of 3.38 and a beta of 1.69.

EPAM Systems (NYSE:EPAM) last posted its earnings results on Thursday, February 20th. The information technology services provider reported $2.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.75 by ($0.52). EPAM Systems had a return on equity of 14.60% and a net margin of 9.61%. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.21 billion. As a group, sell-side analysts anticipate that EPAM Systems, Inc. will post 8.9 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Jason D. Peterson sold 1,078 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $257.00, for a total value of $277,046.00. Following the completion of the sale, the chief financial officer now owns 23,382 shares of the company’s stock, valued at approximately $6,009,174. This trade represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.30% of the company’s stock.

Wall Street Analysts Forecast Growth

EPAM has been the subject of several research analyst reports. Barclays decreased their target price on EPAM Systems from $290.00 to $270.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Needham & Company LLC reissued a “buy” rating and issued a $265.00 price target on shares of EPAM Systems in a research report on Thursday, February 20th. StockNews.com downgraded EPAM Systems from a “buy” rating to a “hold” rating in a research report on Saturday. Jefferies Financial Group decreased their target price on shares of EPAM Systems from $305.00 to $288.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Finally, Scotiabank reduced their price target on EPAM Systems from $275.00 to $250.00 and set a “sector outperform” rating on the stock in a research report on Monday, February 24th. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, EPAM Systems has a consensus rating of “Moderate Buy” and an average target price of $251.80.

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.