Virtu Financial LLC Sells 298 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Virtu Financial LLC decreased its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 8.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,408 shares of the information technology services provider’s stock after selling 298 shares during the period. Virtu Financial LLC’s holdings in EPAM Systems were worth $797,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of EPAM. Summit Global Investments increased its position in shares of EPAM Systems by 1,167.2% in the fourth quarter. Summit Global Investments now owns 31,592 shares of the information technology services provider’s stock worth $7,387,000 after purchasing an additional 29,099 shares during the period. TD Private Client Wealth LLC increased its stake in EPAM Systems by 88.5% in the fourth quarter. TD Private Client Wealth LLC now owns 147 shares of the information technology services provider’s stock valued at $34,000 after acquiring an additional 69 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in EPAM Systems during the fourth quarter valued at approximately $86,699,000. Harvest Fund Management Co. Ltd bought a new stake in EPAM Systems during the fourth quarter worth $475,000. Finally, Vinva Investment Management Ltd acquired a new stake in shares of EPAM Systems in the 4th quarter valued at $1,885,000. Institutional investors and hedge funds own 91.58% of the company’s stock.

EPAM Systems Stock Up 1.9 %

Shares of NYSE EPAM opened at $178.58 on Tuesday. The company’s 50 day moving average price is $225.24 and its 200-day moving average price is $221.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 2.96. EPAM Systems, Inc. has a 52-week low of $169.43 and a 52-week high of $281.62. The company has a market capitalization of $10.16 billion, a P/E ratio of 22.78, a price-to-earnings-growth ratio of 3.38 and a beta of 1.61.

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

Wall Street Analyst Weigh In

EPAM has been the subject of several recent analyst reports. Scotiabank dropped their price objective on EPAM Systems from $275.00 to $250.00 and set a “sector outperform” rating for the company in a research report on Monday, February 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $265.00 price target on shares of EPAM Systems in a report on Thursday, February 20th. Morgan Stanley increased their price objective on shares of EPAM Systems from $230.00 to $256.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. The Goldman Sachs Group raised shares of EPAM Systems from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $235.00 to $295.00 in a research note on Friday, December 6th. Finally, Barclays dropped their price target on EPAM Systems from $290.00 to $270.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, EPAM Systems has an average rating of “Moderate Buy” and a consensus target price of $262.47.

Insider Buying and Selling

In other news, CFO Jason D. Peterson sold 1,078 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $257.00, for a total transaction of $277,046.00. Following the completion of the sale, the chief financial officer now owns 23,382 shares of the company’s stock, valued at $6,009,174. This trade represents a 4.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 4.30% of the stock is currently owned by insiders.

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.