Bessemer Group Inc. Raises Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Bessemer Group Inc. increased its position in EPAM Systems, Inc. (NYSE:EPAM) by 4.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 29,801 shares of the information technology services provider’s stock after purchasing an additional 1,302 shares during the period. Bessemer Group Inc. owned 0.05% of EPAM Systems worth $6,970,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in EPAM. Norges Bank acquired a new stake in EPAM Systems during the 4th quarter worth $173,053,000. William Blair Investment Management LLC purchased a new position in shares of EPAM Systems during the fourth quarter worth about $166,906,000. Massachusetts Financial Services Co. MA increased its position in EPAM Systems by 96.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 818,881 shares of the information technology services provider’s stock valued at $191,471,000 after acquiring an additional 401,355 shares during the period. Teacher Retirement System of Texas purchased a new stake in EPAM Systems during the 4th quarter valued at approximately $86,699,000. Finally, Manning & Napier Advisors LLC lifted its position in EPAM Systems by 48.8% during 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 acquiring an additional 217,960 shares during the period. 91.58% of the stock is owned by institutional investors and hedge funds.

EPAM Systems Stock Performance

NYSE EPAM opened at $147.54 on Friday. The business has a 50 day moving average price of $198.41 and a 200 day moving average price of $216.64. 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 company has a market capitalization of $8.42 billion, a P/E ratio of 18.82, a PEG ratio of 3.38 and a beta of 1.69. EPAM Systems, Inc. has a 1-year low of $138.15 and a 1-year high of $269.00.

EPAM Systems (NYSE:EPAM) last announced 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 firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Sell-side analysts expect that EPAM Systems, Inc. will post 8.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on EPAM. StockNews.com cut EPAM Systems from a “buy” rating to a “hold” rating in a research note on Saturday. Scotiabank cut their price objective on shares of 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. Morgan Stanley lifted their target price on shares of EPAM Systems from $230.00 to $256.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Needham & Company LLC reissued a “buy” rating and set a $265.00 price target on shares of EPAM Systems in a report on Thursday, February 20th. Finally, Barclays lowered their price objective on EPAM Systems from $290.00 to $270.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $251.80.

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 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 of the company’s stock, valued at approximately $6,009,174. This trade represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 4.30% of the stock is currently owned by company insiders.

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.