West Michigan Advisors LLC Makes New Investment in EPAM Systems, Inc. (NYSE:EPAM)

West Michigan Advisors LLC purchased a new stake in shares of EPAM Systems, Inc. (NYSE:EPAM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 916 shares of the information technology services provider’s stock, valued at approximately $214,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA lifted its position in EPAM Systems by 643.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 417,526 shares of the information technology services provider’s stock valued at $83,100,000 after purchasing an additional 361,363 shares during the last quarter. Manning & Napier Advisors LLC increased its stake 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 valued at $155,323,000 after purchasing an additional 217,960 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of EPAM Systems by 45.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 515,351 shares of the information technology services provider’s stock valued at $102,570,000 after buying an additional 160,989 shares during the last quarter. Citigroup Inc. boosted its position in shares of EPAM Systems by 199.5% during the third quarter. Citigroup Inc. now owns 173,721 shares of the information technology services provider’s stock worth $34,576,000 after buying an additional 115,720 shares during the period. Finally, KBC Group NV grew its holdings in EPAM Systems by 399.1% in the 4th quarter. KBC Group NV now owns 116,350 shares of the information technology services provider’s stock worth $27,205,000 after buying an additional 93,039 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on EPAM. Scotiabank cut their target price on EPAM Systems from $275.00 to $250.00 and set a “sector outperform” rating on the stock in a research note on Monday, February 24th. Itau BBA Securities upgraded shares of EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 price objective on the stock in a research note on Friday, November 8th. StockNews.com lowered shares of EPAM Systems from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Morgan Stanley upped their price target on shares of EPAM Systems from $230.00 to $256.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Finally, Piper Sandler increased their price objective on shares of EPAM Systems from $225.00 to $258.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $268.44.

Insider Transactions at EPAM Systems

In other EPAM Systems news, CFO Jason D. Peterson sold 464 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $257.00, for a total value of $119,248.00. Following the transaction, the chief financial officer now owns 24,372 shares in the company, valued at approximately $6,263,604. This represents a 1.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Viktar Dvorkin sold 6,758 shares of EPAM Systems stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $256.53, for a total transaction of $1,733,629.74. Following the sale, the senior vice president now directly owns 13,000 shares of the company’s stock, valued at $3,334,890. This trade represents a 34.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,300 shares of company stock valued at $2,129,924 over the last quarter. Company insiders own 4.30% of the company’s stock.

EPAM Systems Trading Down 1.1 %

Shares of EPAM opened at $206.02 on Friday. The company has a current ratio of 2.96, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01. EPAM Systems, Inc. has a 1-year low of $169.43 and a 1-year high of $317.50. The stock has a market capitalization of $11.69 billion, a P/E ratio of 26.28, a P/E/G ratio of 3.38 and a beta of 1.51. The business’s 50-day moving average price is $239.96 and its 200 day moving average price is $222.81.

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

EPAM Systems Company 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.