Zurcher Kantonalbank Zurich Cantonalbank Acquires 607 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 5.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,621 shares of the information technology services provider’s stock after purchasing an additional 607 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in EPAM Systems were worth $2,717,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Manning & Napier Advisors LLC raised its position in shares of EPAM Systems by 48.8% during the fourth quarter. Manning & Napier Advisors LLC now owns 664,286 shares of the information technology services provider’s stock worth $155,323,000 after purchasing an additional 217,960 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of EPAM Systems by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 522,144 shares of the information technology services provider’s stock worth $122,088,000 after purchasing an additional 6,793 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of EPAM Systems by 643.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 417,526 shares of the information technology services provider’s stock worth $83,100,000 after purchasing an additional 361,363 shares during the period. Assenagon Asset Management S.A. raised its position in shares of EPAM Systems by 10.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 346,201 shares of the information technology services provider’s stock worth $80,949,000 after purchasing an additional 33,715 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of EPAM Systems by 3.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 308,498 shares of the information technology services provider’s stock worth $61,400,000 after purchasing an additional 8,959 shares during the period. 91.58% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other EPAM Systems news, CFO Jason D. Peterson sold 1,078 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $257.00, for a total value of $277,046.00. Following the completion of the transaction, the chief financial officer now owns 23,382 shares in the company, valued at $6,009,174. This trade represents a 4.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.30% of the stock is owned by corporate insiders.

EPAM Systems Stock Up 1.2 %

EPAM stock opened at $182.28 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 2.96. The company has a market capitalization of $10.37 billion, a price-to-earnings ratio of 23.25, a PEG ratio of 3.38 and a beta of 1.61. EPAM Systems, Inc. has a fifty-two week low of $169.43 and a fifty-two week high of $301.60. The stock has a fifty day moving average of $231.08 and a 200-day moving average of $222.32.

EPAM Systems (NYSE:EPAM) last posted its quarterly 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). The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.21 billion. EPAM Systems had a return on equity of 14.60% and a net margin of 9.61%. As a group, equities research analysts predict that EPAM Systems, Inc. will post 8.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on EPAM shares. Jefferies Financial Group lowered their target price on EPAM Systems from $305.00 to $288.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Morgan Stanley increased their price target on EPAM Systems from $230.00 to $256.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Scotiabank lowered their price target 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 reissued a “buy” rating and issued a $265.00 price target on shares of EPAM Systems in a research report on Thursday, February 20th. Finally, Barclays lowered their price target on EPAM Systems from $290.00 to $270.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $267.33.

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.