IFM Investors Pty Ltd Buys 126 Shares of EPAM Systems, Inc. (NYSE:EPAM)

IFM Investors Pty Ltd raised its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 1.1% during the first quarter, HoldingsChannel reports. The fund owned 11,833 shares of the information technology services provider’s stock after acquiring an additional 126 shares during the quarter. IFM Investors Pty Ltd’s holdings in EPAM Systems were worth $3,268,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in EPAM. Capital Research Global Investors grew its holdings in EPAM Systems by 0.7% during the 4th quarter. Capital Research Global Investors now owns 7,698,930 shares of the information technology services provider’s stock valued at $2,289,207,000 after purchasing an additional 51,228 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of EPAM Systems by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 6,825,592 shares of the information technology services provider’s stock valued at $2,029,522,000 after buying an additional 34,575 shares during the last quarter. Lone Pine Capital LLC raised its holdings in shares of EPAM Systems by 9.2% in the third quarter. Lone Pine Capital LLC now owns 1,054,229 shares of the information technology services provider’s stock worth $269,556,000 after buying an additional 88,641 shares during the period. Northern Trust Corp lifted its stake in shares of EPAM Systems by 6.2% during the 3rd quarter. Northern Trust Corp now owns 716,659 shares of the information technology services provider’s stock worth $183,243,000 after acquiring an additional 42,077 shares during the last quarter. Finally, Norges Bank purchased a new position in EPAM Systems during the 4th quarter valued at $184,713,000. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Insider Buying and Selling

In related news, SVP Sergey Yezhkov sold 8,000 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now owns 12,770 shares in the company, valued at approximately $3,857,050.80. The sale was disclosed in a filing with the SEC, which is available through this link. In other EPAM Systems 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 sale, the senior vice president now directly owns 12,770 shares of the company’s stock, valued at $3,857,050.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Lawrence F. Solomon sold 5,350 shares of EPAM Systems stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $306.00, for a total value of $1,637,100.00. Following the transaction, the senior vice president now owns 12,117 shares of the company’s stock, valued at approximately $3,707,802. The disclosure for this sale can be found here. Insiders sold 16,820 shares of company stock valued at $5,101,117 over the last quarter. 4.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Guggenheim started coverage on shares of EPAM Systems in a research note on Tuesday, March 19th. They set a “buy” rating and a $350.00 price target for the company. Piper Sandler reiterated an “overweight” rating and issued a $369.00 target price on shares of EPAM Systems in a report on Monday, March 4th. Jefferies Financial Group reiterated a “hold” rating and set a $295.00 target price on shares of EPAM Systems in a report on Thursday, January 11th. Morgan Stanley upgraded shares of EPAM Systems from an “underweight” rating to an “equal weight” rating and reduced their price target for the company from $236.00 to $225.00 in a report on Friday. Finally, Citigroup dropped their price objective on shares of EPAM Systems from $325.00 to $275.00 and set a “neutral” rating on the stock in a research note on Monday, April 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $323.93.

EPAM Systems Stock Performance

Shares of NYSE EPAM traded up $0.62 during midday trading on Friday, reaching $237.75. The company had a trading volume of 553,465 shares, compared to its average volume of 418,045. EPAM Systems, Inc. has a 1 year low of $197.99 and a 1 year high of $317.50. The business’s 50-day simple moving average is $282.43 and its 200 day simple moving average is $273.43. The company has a current ratio of 4.79, a quick ratio of 4.79 and a debt-to-equity ratio of 0.01. The stock has a market cap of $13.79 billion, a P/E ratio of 33.63, a P/E/G ratio of 10.35 and a beta of 1.43.

EPAM Systems (NYSE:EPAM) last issued its earnings results on Thursday, February 15th. The information technology services provider reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.51 by $0.24. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.14 billion. EPAM Systems had a return on equity of 15.53% and a net margin of 8.89%. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter last year, the business posted $2.71 EPS. On average, analysts forecast that EPAM Systems, Inc. will post 7.72 earnings per share 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.