Wellington Management Group LLP Sells 20,827 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Wellington Management Group LLP decreased its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 9.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 193,467 shares of the information technology services provider’s stock after selling 20,827 shares during the quarter. Wellington Management Group LLP owned 0.34% of EPAM Systems worth $45,236,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in EPAM. Norges Bank purchased a new stake in EPAM Systems during the 4th quarter valued at $173,053,000. William Blair Investment Management LLC bought a new position in shares of EPAM Systems during the fourth quarter valued at $166,906,000. Teacher Retirement System of Texas purchased a new stake in shares of EPAM Systems during the fourth quarter valued at $86,699,000. Manning & Napier Advisors LLC increased its holdings in EPAM Systems by 48.8% in the 4th quarter. Manning & Napier Advisors LLC now owns 664,286 shares of the information technology services provider’s stock worth $155,323,000 after buying an additional 217,960 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in EPAM Systems by 1,813.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 142,742 shares of the information technology services provider’s stock worth $33,376,000 after buying an additional 135,283 shares during the last quarter. Institutional investors own 91.58% of the company’s stock.

Analyst Upgrades and Downgrades

EPAM has been the subject of a number of research analyst reports. StockNews.com upgraded shares of EPAM Systems from a “hold” rating to a “buy” rating in a research note on Friday. Morgan Stanley lifted their target price 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. Jefferies Financial Group lowered their price target on EPAM Systems from $305.00 to $288.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. Needham & Company LLC reiterated a “buy” rating and set a $265.00 price objective on shares of EPAM Systems in a research report on Thursday, February 20th. Finally, Scotiabank cut their price target on EPAM Systems from $275.00 to $250.00 and set a “sector outperform” rating for the company in a research note on Monday, February 24th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, EPAM Systems currently has an average rating of “Moderate Buy” and a consensus target price of $257.31.

EPAM Systems Stock Down 7.0 %

EPAM opened at $144.73 on Friday. EPAM Systems, Inc. has a fifty-two week low of $144.00 and a fifty-two week high of $275.49. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 2.96. The stock has a market cap of $8.23 billion, a price-to-earnings ratio of 18.46, a price-to-earnings-growth ratio of 3.38 and a beta of 1.61. The firm’s fifty day moving average is $213.08 and its 200 day moving average is $219.17.

EPAM Systems (NYSE:EPAM) last released its quarterly earnings data 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). The business had revenue of $1.25 billion during 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%. On average, sell-side analysts forecast that EPAM Systems, Inc. will post 8.9 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Jason D. Peterson sold 1,078 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was 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 in the company, valued at $6,009,174. This trade represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 4.30% of the company’s stock.

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.