EPAM Systems, Inc. (NYSE:EPAM) Shares Sold by ING Groep NV

ING Groep NV reduced its stake in EPAM Systems, Inc. (NYSE:EPAM) by 4.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,244 shares of the information technology services provider’s stock after selling 371 shares during the period. ING Groep NV’s holdings in EPAM Systems were worth $1,694,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Metis Global Partners LLC boosted its position in shares of EPAM Systems by 2.5% in the 3rd quarter. Metis Global Partners LLC now owns 2,029 shares of the information technology services provider’s stock valued at $404,000 after purchasing an additional 50 shares during the period. First Horizon Advisors Inc. lifted its stake in EPAM Systems by 21.3% in the third quarter. First Horizon Advisors Inc. now owns 325 shares of the information technology services provider’s stock valued at $65,000 after buying an additional 57 shares during the last quarter. SkyView Investment Advisors LLC boosted its holdings in shares of EPAM Systems by 3.0% in the third quarter. SkyView Investment Advisors LLC now owns 2,055 shares of the information technology services provider’s stock valued at $409,000 after acquiring an additional 60 shares during the period. Empirical Finance LLC grew its position in shares of EPAM Systems by 5.2% during the third quarter. Empirical Finance LLC now owns 1,362 shares of the information technology services provider’s stock worth $271,000 after acquiring an additional 67 shares during the last quarter. Finally, Covestor Ltd increased its holdings in shares of EPAM Systems by 16.4% in the 3rd quarter. Covestor Ltd now owns 490 shares of the information technology services provider’s stock valued at $98,000 after acquiring an additional 69 shares during the period. Institutional investors and hedge funds own 91.58% of the company’s stock.

EPAM Systems Trading Down 7.2 %

Shares of EPAM opened at $208.98 on Monday. EPAM Systems, Inc. has a twelve month low of $169.43 and a twelve month high of $317.50. The company has a current ratio of 2.96, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $11.85 billion, a P/E ratio of 26.66, a PEG ratio of 3.38 and a beta of 1.51. The firm’s 50-day moving average is $243.56 and its two-hundred day moving average is $222.44.

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 for the quarter, missing analysts’ consensus estimates of $2.75 by ($0.52). The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.21 billion. EPAM Systems had a return on equity of 14.60% and a net margin of 9.61%. On average, research analysts predict that EPAM Systems, Inc. will post 8.9 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Jason D. Peterson sold 464 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $257.00, for a total transaction of $119,248.00. Following the sale, the chief financial officer now owns 24,372 shares of the company’s stock, valued at $6,263,604. This trade represents a 1.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 value of $1,733,629.74. Following the completion of the sale, the senior vice president now directly owns 13,000 shares of the company’s stock, valued at approximately $3,334,890. This 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 worth $2,129,924 over the last 90 days. 4.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on EPAM. Barclays upgraded shares of EPAM Systems from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $250.00 to $290.00 in a research note on Tuesday, December 17th. Itau BBA Securities upgraded shares of EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 target price for the company in a research note on Friday, November 8th. StockNews.com cut EPAM Systems from a “buy” rating to a “hold” rating in a research report on Friday. Piper Sandler increased their price objective on EPAM Systems from $225.00 to $258.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $265.00 target price on shares of EPAM Systems in a report on Thursday. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $269.83.

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.