DnB Asset Management AS Has $2.63 Million Stock Holdings in EPAM Systems, Inc. (NYSE:EPAM)

DnB Asset Management AS increased its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 26.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,245 shares of the information technology services provider’s stock after buying an additional 2,349 shares during the quarter. DnB Asset Management AS’s holdings in EPAM Systems were worth $2,629,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in EPAM. Pictet Asset Management Holding SA raised its holdings in EPAM Systems by 4.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 27,643 shares of the information technology services provider’s stock worth $6,463,000 after buying an additional 1,185 shares during the last quarter. Norges Bank bought a new stake in shares of EPAM Systems during the fourth quarter worth about $173,053,000. UniSuper Management Pty Ltd raised its holdings in shares of EPAM Systems by 0.3% in the 4th quarter. UniSuper Management Pty Ltd now owns 15,632 shares of the information technology services provider’s stock worth $3,655,000 after acquiring an additional 52 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in EPAM Systems by 11.1% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 93,599 shares of the information technology services provider’s stock valued at $21,595,000 after acquiring an additional 9,322 shares in the last quarter. Finally, Korea Investment CORP boosted its stake in EPAM Systems by 50.3% during the 4th quarter. Korea Investment CORP now owns 65,200 shares of the information technology services provider’s stock valued at $15,245,000 after purchasing an additional 21,807 shares during the last quarter. 91.58% of the stock is owned by institutional investors and hedge funds.

EPAM Systems Price Performance

NYSE EPAM opened at $167.40 on Wednesday. The company has a quick ratio of 4.56, a current ratio of 2.96 and a debt-to-equity ratio of 0.01. The company has a market cap of $9.52 billion, a PE ratio of 21.35, a price-to-earnings-growth ratio of 3.38 and a beta of 1.61. EPAM Systems, Inc. has a 52 week low of $164.00 and a 52 week high of $275.49. The firm’s 50-day simple moving average is $218.35 and its two-hundred day simple moving average is $220.27.

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 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 business had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Research analysts predict that EPAM Systems, Inc. will post 8.9 earnings per share for the current year.

Insider Activity at EPAM Systems

In related news, CFO Jason D. Peterson sold 1,078 shares of the business’s 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 completion of the transaction, the chief financial officer now owns 23,382 shares of the company’s stock, valued at approximately $6,009,174. The trade was a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Jefferies Financial Group dropped their target price on EPAM Systems from $305.00 to $288.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. Barclays cut their price objective on shares of EPAM Systems from $290.00 to $270.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. StockNews.com downgraded shares of EPAM Systems from a “buy” rating to a “hold” rating in a report on Friday, February 21st. The Goldman Sachs Group upgraded shares of EPAM Systems from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $235.00 to $295.00 in a report on Friday, December 6th. Finally, Morgan Stanley increased their price objective 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. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, EPAM Systems currently has a consensus rating of “Moderate Buy” and a consensus price target 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.