22,698 Shares in EPAM Systems, Inc. (NYSE:EPAM) Acquired by Cinctive Capital Management LP

Cinctive Capital Management LP bought a new stake in EPAM Systems, Inc. (NYSE:EPAM) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 22,698 shares of the information technology services provider’s stock, valued at approximately $5,307,000.

A number of other institutional investors also recently added to or reduced their stakes in EPAM. Geode Capital Management LLC lifted 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 worth $314,616,000 after buying an additional 37,119 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of EPAM Systems by 96.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 818,881 shares of the information technology services provider’s stock worth $191,471,000 after acquiring an additional 401,355 shares in the last quarter. Norges Bank purchased a new stake in EPAM Systems during the fourth quarter worth approximately $173,053,000. William Blair Investment Management LLC acquired a new position in EPAM Systems in the fourth quarter valued at approximately $166,906,000. Finally, Manning & Napier Advisors LLC increased its stake in 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 last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

EPAM Systems Stock Up 1.0 %

Shares of EPAM Systems stock opened at $169.16 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 2.96. EPAM Systems, Inc. has a one year low of $162.74 and a one year high of $275.49. The firm has a fifty day moving average of $217.03 and a two-hundred day moving average of $219.91. The company has a market cap of $9.62 billion, a P/E ratio of 21.58, a PEG ratio of 3.38 and a beta of 1.61.

EPAM Systems (NYSE:EPAM) last issued its 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). The company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.21 billion. EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. On average, analysts forecast that EPAM Systems, Inc. will post 8.9 earnings per share for the current year.

Insider Buying and Selling

In other EPAM Systems news, CFO Jason D. Peterson sold 1,078 shares of the firm’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $257.00, for a total transaction of $277,046.00. Following the completion of the transaction, the chief financial officer now directly owns 23,382 shares in the company, valued at approximately $6,009,174. This trade represents a 4.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

EPAM has been the subject of several research analyst reports. The Goldman Sachs Group upgraded shares of EPAM Systems from a “neutral” rating to a “buy” rating and upped their target price for the company from $235.00 to $295.00 in a report on Friday, December 6th. Morgan Stanley upped their price objective on shares of EPAM Systems from $230.00 to $256.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Scotiabank dropped their price objective on EPAM Systems from $275.00 to $250.00 and set a “sector outperform” rating on the stock in a report on Monday, February 24th. StockNews.com downgraded EPAM Systems from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $265.00 target price on shares of EPAM Systems in a research report on Thursday, February 20th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, EPAM Systems has an average rating of “Moderate Buy” and an average price target of $262.47.

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.