Norges Bank Takes Position in EPAM Systems, Inc. (NYSE:EPAM)

Norges Bank bought a new position in shares of EPAM Systems, Inc. (NYSE:EPAM) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 740,114 shares of the information technology services provider’s stock, valued at approximately $173,053,000. Norges Bank owned approximately 1.30% of EPAM Systems at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC grew its position in shares of EPAM Systems by 90.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider’s stock worth $27,000 after buying an additional 54 shares in the last quarter. TD Private Client Wealth LLC grew its holdings in EPAM Systems by 88.5% during the 4th quarter. TD Private Client Wealth LLC now owns 147 shares of the information technology services provider’s stock worth $34,000 after acquiring an additional 69 shares in the last quarter. Versant Capital Management Inc acquired a new position in EPAM Systems during the 4th quarter worth approximately $35,000. Manchester Capital Management LLC raised its holdings in shares of EPAM Systems by 590.0% in the 4th quarter. Manchester Capital Management LLC now owns 207 shares of the information technology services provider’s stock valued at $48,000 after purchasing an additional 177 shares in the last quarter. Finally, Continuum Advisory LLC lifted its position in shares of EPAM Systems by 5,240.0% during the 3rd quarter. Continuum Advisory LLC now owns 267 shares of the information technology services provider’s stock worth $53,000 after purchasing an additional 262 shares during the last quarter. 91.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on EPAM shares. The Goldman Sachs Group upgraded EPAM Systems from a “neutral” rating to a “buy” rating and raised their price target for the company from $235.00 to $295.00 in a research note on Friday, December 6th. Needham & Company LLC restated a “buy” rating and set a $265.00 target price on shares of EPAM Systems in a research note on Thursday, February 20th. Barclays dropped their price target on shares of EPAM Systems from $290.00 to $270.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. Morgan Stanley boosted their price objective on shares of EPAM Systems from $230.00 to $256.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Finally, Jefferies Financial Group dropped their target price on shares of EPAM Systems from $305.00 to $288.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, EPAM Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $262.47.

EPAM Systems Trading Down 3.2 %

Shares of EPAM stock opened at $168.72 on Monday. The company has a market capitalization of $9.60 billion, a P/E ratio of 21.52, a price-to-earnings-growth ratio of 3.38 and a beta of 1.61. 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 business’s 50 day moving average is $220.95 and its two-hundred day moving average is $220.74. EPAM Systems, Inc. has a twelve month low of $167.00 and a twelve month high of $277.04.

EPAM Systems (NYSE:EPAM) last announced its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $2.23 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $1.21 billion. Equities analysts forecast that EPAM Systems, Inc. will post 8.9 EPS for the current year.

Insider Buying and Selling at EPAM Systems

In other EPAM Systems news, CFO Jason D. Peterson sold 1,078 shares of the company’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 transaction, the chief financial officer now directly owns 23,382 shares in the company, valued at approximately $6,009,174. This represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 4.30% of the stock is owned by corporate insiders.

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.