Oppenheimer Asset Management Inc. Has $9.53 Million Position in EPAM Systems, Inc. (NYSE:EPAM)

Oppenheimer Asset Management Inc. lowered its stake in EPAM Systems, Inc. (NYSE:EPAM) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,751 shares of the information technology services provider’s stock after selling 425 shares during the period. Oppenheimer Asset Management Inc. owned 0.07% of EPAM Systems worth $9,528,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Raymond James & Associates grew its holdings in EPAM Systems by 1,741.1% during the 3rd quarter. Raymond James & Associates now owns 36,694 shares of the information technology services provider’s stock worth $7,303,000 after acquiring an additional 34,701 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in EPAM Systems by 53.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,766 shares of the information technology services provider’s stock worth $951,000 after acquiring an additional 1,662 shares during the period. Forsta AP Fonden grew its holdings in EPAM Systems by 10.2% during the 3rd quarter. Forsta AP Fonden now owns 11,900 shares of the information technology services provider’s stock worth $2,368,000 after acquiring an additional 1,100 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in EPAM Systems by 143.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,306 shares of the information technology services provider’s stock worth $857,000 after acquiring an additional 2,540 shares during the period. Finally, Nisa Investment Advisors LLC grew its holdings in EPAM Systems by 115.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,083 shares of the information technology services provider’s stock worth $216,000 after acquiring an additional 581 shares during the period. Institutional investors and hedge funds own 91.58% of the company’s stock.

Wall Street Analyst Weigh In

EPAM has been the topic of a number of recent analyst reports. Mizuho lifted their price target on shares of EPAM Systems from $245.00 to $282.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Morgan Stanley lifted their price target 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. Itau BBA Securities raised shares of EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 price target on the stock in a research report on Friday, November 8th. Piper Sandler lifted their price target on shares of EPAM Systems from $225.00 to $258.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group raised shares of EPAM Systems from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $235.00 to $295.00 in a research report on Friday, December 6th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $268.44.

Insiders Place Their Bets

In other news, CFO Jason D. Peterson sold 464 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $257.00, for a total transaction of $119,248.00. Following the transaction, the chief financial officer now directly owns 24,372 shares in the company, valued at $6,263,604. The trade was a 1.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Viktar Dvorkin sold 6,758 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now owns 13,000 shares in the company, valued at $3,334,890. This represents a 34.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,300 shares of company stock valued at $2,129,924 in the last three months. 4.30% of the stock is currently owned by corporate insiders.

EPAM Systems Trading Down 2.0 %

Shares of NYSE:EPAM opened at $208.87 on Friday. The company’s 50-day moving average price is $240.81 and its two-hundred day moving average price is $222.51. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.96 and a quick ratio of 4.56. EPAM Systems, Inc. has a one year low of $169.43 and a one year high of $317.50. The stock has a market capitalization of $11.85 billion, a PE ratio of 26.64, a price-to-earnings-growth ratio of 3.38 and a beta of 1.51.

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 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 business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.21 billion. On average, equities analysts forecast that EPAM Systems, Inc. will post 8.9 EPS for the current fiscal year.

EPAM Systems Company 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.