Renaissance Technologies LLC Has $51.96 Million Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Renaissance Technologies LLC raised its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 2,483.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 222,200 shares of the information technology services provider’s stock after purchasing an additional 213,600 shares during the period. Renaissance Technologies LLC owned 0.39% of EPAM Systems worth $51,955,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. American Century Companies Inc. grew its holdings in EPAM Systems by 35.8% in the 4th quarter. American Century Companies Inc. now owns 20,597 shares of the information technology services provider’s stock valued at $4,816,000 after buying an additional 5,435 shares during the last quarter. Centre Asset Management LLC bought a new stake in shares of EPAM Systems during the fourth quarter worth $8,757,000. Oliver Luxxe Assets LLC bought a new stake in shares of EPAM Systems during the fourth quarter worth $1,889,000. DnB Asset Management AS increased its holdings in EPAM Systems by 26.4% in the fourth quarter. DnB Asset Management AS now owns 11,245 shares of the information technology services provider’s stock valued at $2,629,000 after purchasing an additional 2,349 shares during the last quarter. Finally, Merit Financial Group LLC acquired a new position in EPAM Systems in the fourth quarter valued at about $245,000. 91.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on EPAM. Needham & Company LLC reaffirmed a “buy” rating and set a $265.00 price objective on shares of EPAM Systems in a research report on Thursday, February 20th. Jefferies Financial Group lowered their target price on EPAM Systems from $305.00 to $288.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. 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. StockNews.com raised EPAM Systems from a “hold” rating to a “buy” rating in a report on Friday, April 4th. Finally, Barclays cut their price objective on EPAM Systems from $290.00 to $270.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $257.31.

Insider Transactions at EPAM Systems

In other EPAM Systems news, CFO Jason D. Peterson sold 1,078 shares of the stock in a transaction on Monday, January 27th. The stock was 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 of the company’s stock, valued at approximately $6,009,174. This represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.30% of the company’s stock.

EPAM Systems Stock Performance

Shares of EPAM opened at $159.23 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.96 and a quick ratio of 4.56. The stock has a 50-day moving average of $202.78 and a 200-day moving average of $217.36. The company has a market cap of $9.09 billion, a PE ratio of 20.31, a P/E/G ratio of 3.38 and a beta of 1.69. EPAM Systems, Inc. has a one year low of $138.15 and a one year high of $271.61.

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). The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.21 billion. EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. On average, equities research analysts predict that EPAM Systems, Inc. will post 8.9 EPS for the current fiscal year.

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.