Olympiad Research LP Lowers Stake in EPAM Systems, Inc. (NYSE:EPAM)

Olympiad Research LP reduced its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 47.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 881 shares of the information technology services provider’s stock after selling 805 shares during the quarter. Olympiad Research LP’s holdings in EPAM Systems were worth $206,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Metis Global Partners LLC lifted its stake in 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 buying an additional 50 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in EPAM Systems by 21.3% in the 3rd 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 in the last quarter. SkyView Investment Advisors LLC lifted its stake in EPAM Systems by 3.0% in the 3rd quarter. SkyView Investment Advisors LLC now owns 2,055 shares of the information technology services provider’s stock valued at $409,000 after buying an additional 60 shares in the last quarter. Empirical Finance LLC lifted its stake in EPAM Systems by 5.2% in the 3rd quarter. Empirical Finance LLC now owns 1,362 shares of the information technology services provider’s stock valued at $271,000 after buying an additional 67 shares in the last quarter. Finally, Covestor Ltd lifted its stake in 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 buying an additional 69 shares in the last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EPAM has been the topic of a number of research reports. The Goldman Sachs Group raised shares of 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. Mizuho raised their price target on shares of EPAM Systems from $245.00 to $282.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Needham & Company LLC reissued a “buy” rating and issued a $265.00 target price on shares of EPAM Systems in a research note on Thursday. Susquehanna raised their target price on shares of EPAM Systems from $240.00 to $270.00 and gave the stock a “positive” rating in a research note on Friday, November 8th. Finally, Jefferies Financial Group decreased 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 note on Tuesday, January 21st. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $269.83.

EPAM Systems Stock Down 7.2 %

Shares of NYSE EPAM opened at $208.98 on Monday. EPAM Systems, Inc. has a 1 year low of $169.43 and a 1 year high of $317.50. 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 company has a 50 day simple moving average of $243.56 and a 200-day simple moving average of $222.44. The company has a market capitalization of $11.85 billion, a P/E ratio of 26.66, a P/E/G ratio of 3.38 and a beta of 1.51.

EPAM Systems (NYSE:EPAM) last posted its earnings results on Thursday, February 20th. The information technology services provider reported $2.23 earnings per share 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 company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.21 billion. On average, equities research analysts predict that EPAM Systems, Inc. will post 8.9 earnings per share for the current year.

Insider Activity at EPAM Systems

In other EPAM Systems news, SVP Viktar Dvorkin sold 6,758 shares of the business’s 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 transaction, the senior vice president now owns 13,000 shares in the company, valued at $3,334,890. The trade was a 34.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Jason D. Peterson sold 1,078 shares of the business’s 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 owns 23,382 shares of the company’s stock, valued at approximately $6,009,174. This trade represents a 4.41 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,300 shares of company stock worth $2,129,924. Insiders own 4.30% of the company’s stock.

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.