EPAM Systems, Inc. (NYSE:EPAM) Holdings Cut by New York Life Investment Management LLC

New York Life Investment Management LLC decreased its stake in EPAM Systems, Inc. (NYSE:EPAM) by 4.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,450 shares of the information technology services provider’s stock after selling 588 shares during the quarter. New York Life Investment Management LLC’s holdings in EPAM Systems were worth $3,145,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EPAM. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of 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 purchasing an additional 1,662 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of 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 purchasing an additional 2,540 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of 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 purchasing an additional 581 shares during the last quarter. abrdn plc increased its stake in shares of EPAM Systems by 42.7% during the 3rd quarter. abrdn plc now owns 29,203 shares of the information technology services provider’s stock worth $5,791,000 after purchasing an additional 8,739 shares during the last quarter. Finally, Diversify Advisory Services LLC acquired a new position in shares of EPAM Systems during the 3rd quarter worth $254,000. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Insider Transactions at EPAM Systems

In other news, CFO Jason D. Peterson sold 1,078 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Viktar Dvorkin sold 6,758 shares of the firm’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 directly owns 13,000 shares of the company’s stock, valued at $3,334,890. The trade was a 34.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 8,300 shares of company stock valued at $2,129,924. Company insiders own 4.30% of the company’s stock.

Wall Street Analysts Forecast Growth

EPAM has been the topic of several analyst reports. Mizuho increased their price target on shares of EPAM Systems from $245.00 to $282.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Itau BBA Securities upgraded shares of EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 target price on the stock in a research note on Friday, November 8th. Morgan Stanley raised their target price 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. Needham & Company LLC reiterated a “buy” rating and issued a $265.00 target price on shares of EPAM Systems in a research note on Thursday, February 20th. Finally, The Goldman Sachs Group upgraded shares of EPAM Systems from a “neutral” rating to a “buy” rating and raised their target price for the company from $235.00 to $295.00 in a research note on Friday, December 6th. Seven 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 an average target price of $268.44.

EPAM Systems Price Performance

Shares of EPAM Systems stock opened at $206.02 on Friday. 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 fifty-two week low of $169.43 and a fifty-two week high of $317.50. The firm has a fifty day moving average price of $239.96 and a two-hundred day moving average price of $222.81. The company has a market cap of $11.69 billion, a PE ratio of 26.28, a price-to-earnings-growth ratio of 3.38 and a beta of 1.51.

EPAM Systems (NYSE:EPAM) last released its quarterly earnings data 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). The business 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%. Analysts expect that EPAM Systems, Inc. will post 8.9 EPS for the current year.

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.