Fjarde AP Fonden Fourth Swedish National Pension Fund Acquires 1,300 Shares of EPAM Systems, Inc. (NYSE:EPAM)

by · The Markets Daily

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM – Free Report) by 12.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,983 shares of the information technology services provider’s stock after purchasing an additional 1,300 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in EPAM Systems were worth $2,802,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EPAM. Massachusetts Financial Services Co. MA grew its holdings in EPAM Systems by 643.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 417,526 shares of the information technology services provider’s stock valued at $83,100,000 after buying an additional 361,363 shares in the last quarter. Manning & Napier Advisors LLC grew its holdings in EPAM Systems by 48.8% during the 4th quarter. Manning & Napier Advisors LLC now owns 664,286 shares of the information technology services provider’s stock valued at $155,323,000 after buying an additional 217,960 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in EPAM Systems by 45.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 515,351 shares of the information technology services provider’s stock valued at $102,570,000 after buying an additional 160,989 shares in the last quarter. Citigroup Inc. grew its holdings in EPAM Systems by 199.5% during the 3rd quarter. Citigroup Inc. now owns 173,721 shares of the information technology services provider’s stock valued at $34,576,000 after buying an additional 115,720 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new position in EPAM Systems during the 3rd quarter valued at approximately $21,787,000. Institutional investors own 91.58% of the company’s stock.

EPAM Systems Price Performance

Shares of EPAM stock opened at $213.10 on Thursday. EPAM Systems, Inc. has a twelve month low of $169.43 and a twelve month high of $317.50. The stock has a market capitalization of $12.09 billion, a price-to-earnings ratio of 27.18, a P/E/G ratio of 3.38 and a beta of 1.51. The stock has a fifty day simple moving average of $241.57 and a two-hundred day simple moving average of $222.60. The company has a current ratio of 2.96, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAM – Get Free Report) last issued 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 return on equity of 14.60% and a net margin of 9.61%. The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.21 billion. On average, analysts predict that EPAM Systems, Inc. will post 8.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on EPAM shares. Mizuho raised their price target on EPAM Systems from $245.00 to $282.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Barclays upgraded EPAM Systems from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $250.00 to $290.00 in a report on Tuesday, December 17th. Needham & Company LLC reiterated a “buy” rating and issued a $265.00 target price on shares of EPAM Systems in a report on Thursday, February 20th. Scotiabank dropped their target price on EPAM Systems from $275.00 to $250.00 and set a “sector outperform” rating for the company in a report on Monday. Finally, Piper Sandler lifted their target price on EPAM Systems from $225.00 to $258.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, EPAM Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $268.44.

View Our Latest Stock Analysis on EPAM

Insiders Place Their Bets

In related news, SVP Viktar Dvorkin sold 6,758 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $256.53, for a total transaction of $1,733,629.74. Following the completion of the sale, the senior vice president now directly owns 13,000 shares in the company, valued at $3,334,890. This represents a 34.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Jason D. Peterson sold 464 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $257.00, for a total value 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 8,300 shares of company stock worth $2,129,924. 4.30% of the stock is currently owned by company insiders.

About EPAM Systems

(Free Report)

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.

Featured Articles