Choate Investment Advisors Acquires New Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Choate Investment Advisors acquired a new stake in EPAM Systems, Inc. (NYSE:EPAM) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,042 shares of the information technology services provider’s stock, valued at approximately $244,000.

Several other institutional investors also recently bought and sold shares of EPAM. Atria Investments Inc grew its position in EPAM Systems by 139.2% in the 3rd quarter. Atria Investments Inc now owns 4,048 shares of the information technology services provider’s stock valued at $806,000 after acquiring an additional 2,356 shares in the last quarter. Victory Capital Management Inc. grew its position in EPAM Systems by 247.6% in the 3rd quarter. Victory Capital Management Inc. now owns 72,447 shares of the information technology services provider’s stock valued at $14,419,000 after acquiring an additional 51,603 shares in the last quarter. KBC Group NV grew its position in EPAM Systems by 3.0% in the 3rd quarter. KBC Group NV now owns 23,311 shares of the information technology services provider’s stock valued at $4,639,000 after acquiring an additional 683 shares in the last quarter. Metis Global Partners LLC grew its position in EPAM Systems by 2.5% in the 3rd quarter. Metis Global Partners LLC now owns 2,029 shares of the information technology services provider’s stock valued at $404,000 after acquiring an additional 50 shares in the last quarter. Finally, OneDigital Investment Advisors LLC grew its position in EPAM Systems by 4.1% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,931 shares of the information technology services provider’s stock valued at $384,000 after acquiring an additional 76 shares in the last quarter. 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 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 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. 4.30% of the stock is currently owned by insiders.

EPAM Systems Price Performance

Shares of NYSE:EPAM opened at $186.34 on Tuesday. The company’s fifty day moving average price is $230.19 and its 200 day moving average price is $222.38. EPAM Systems, Inc. has a 12 month low of $169.43 and a 12 month high of $301.60. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.96 and a quick ratio of 4.56. The firm has a market capitalization of $10.60 billion, a P/E ratio of 23.77, a P/E/G ratio of 3.38 and a beta of 1.61.

EPAM Systems (NYSE:EPAM) last announced 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 company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.21 billion. As a group, sell-side analysts predict that EPAM Systems, Inc. will post 8.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

EPAM has been the subject of several research reports. 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 research report on Monday, February 24th. The Goldman Sachs Group upgraded shares of EPAM Systems from a “neutral” rating to a “buy” rating and upped their target price for the stock from $235.00 to $295.00 in a research note on Friday, December 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $265.00 target price on shares of EPAM Systems in a report on Thursday, February 20th. Morgan Stanley boosted their price target on shares of EPAM Systems from $230.00 to $256.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Finally, Jefferies Financial Group reduced their price objective on shares of EPAM Systems from $305.00 to $288.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $267.33.

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.