iA Global Asset Management Inc. Sells 1,541 Shares of EPAM Systems, Inc. (NYSE:EPAM)

iA Global Asset Management Inc. cut its stake in EPAM Systems, Inc. (NYSE:EPAM) by 41.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,159 shares of the information technology services provider’s stock after selling 1,541 shares during the quarter. iA Global Asset Management Inc.’s holdings in EPAM Systems were worth $505,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Teacher Retirement System of Texas bought a new position in shares of EPAM Systems in the fourth quarter valued at about $86,699,000. Harvest Fund Management Co. Ltd bought a new position in shares of EPAM Systems in the fourth quarter valued at about $475,000. Vinva Investment Management Ltd bought a new position in shares of EPAM Systems in the fourth quarter valued at about $1,885,000. Intech Investment Management LLC bought a new position in shares of EPAM Systems in the fourth quarter valued at about $484,000. Finally, William Blair Investment Management LLC bought a new position in shares of EPAM Systems in the fourth quarter valued at about $166,906,000. 91.58% of the stock is owned by institutional investors.

EPAM Systems Trading Up 2.0 %

EPAM opened at $175.64 on Friday. The company’s 50 day moving average is $226.19 and its 200-day moving average is $221.63. EPAM Systems, Inc. has a 1-year low of $169.43 and a 1-year high of $281.62. The company has a current ratio of 2.96, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01. The company has a market cap of $9.99 billion, a P/E ratio of 22.40, a PEG ratio of 3.38 and a beta of 1.61.

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 analysts’ consensus estimates of $2.75 by ($0.52). EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.21 billion. Equities research analysts predict that EPAM Systems, Inc. will post 8.9 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Jason D. Peterson sold 1,078 shares of EPAM Systems stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 23,382 shares in the company, valued at $6,009,174. This trade represents a 4.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on EPAM shares. Scotiabank lowered their price target on shares of EPAM Systems from $275.00 to $250.00 and set a “sector outperform” rating on the stock in a research report on Monday, February 24th. Barclays lowered their price target on shares of EPAM Systems from $290.00 to $270.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. The Goldman Sachs Group raised shares of EPAM Systems from a “neutral” rating to a “buy” rating and raised their price target for the stock from $235.00 to $295.00 in a research report on Friday, December 6th. Jefferies Financial Group lowered their price target on shares of EPAM Systems from $305.00 to $288.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Finally, Morgan Stanley raised 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. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, EPAM Systems presently has an average rating of “Moderate Buy” and an average target price of $262.47.

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.