Tobam Lowers Position in EPAM Systems, Inc. (NYSE:EPAM)

Tobam reduced its stake in EPAM Systems, Inc. (NYSE:EPAM) by 50.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,349 shares of the information technology services provider’s stock after selling 8,411 shares during the period. Tobam’s holdings in EPAM Systems were worth $1,952,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA grew its position in EPAM Systems by 643.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 417,526 shares of the information technology services provider’s stock valued at $83,100,000 after acquiring an additional 361,363 shares in the last quarter. Manning & Napier Advisors LLC grew its holdings in shares of EPAM Systems by 48.8% in the fourth quarter. Manning & Napier Advisors LLC now owns 664,286 shares of the information technology services provider’s stock valued at $155,323,000 after purchasing an additional 217,960 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in EPAM Systems by 45.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 515,351 shares of the information technology services provider’s stock worth $102,570,000 after buying an additional 160,989 shares during the period. Citigroup Inc. boosted its position in EPAM Systems by 199.5% in the 3rd quarter. Citigroup Inc. now owns 173,721 shares of the information technology services provider’s stock valued at $34,576,000 after buying an additional 115,720 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in shares of EPAM Systems in the third quarter worth $21,787,000. Institutional investors and hedge funds own 91.58% of the company’s stock.

Insider Activity

In other news, CFO Jason D. Peterson sold 1,078 shares of the company’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 $6,009,174. This represents a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Viktar Dvorkin sold 6,758 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $256.53, for a total transaction of $1,733,629.74. Following the completion of the sale, the senior vice president now owns 13,000 shares of the company’s stock, valued at $3,334,890. This trade represents a 34.20 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,300 shares of company stock valued at $2,129,924. Insiders own 4.30% of the company’s stock.

EPAM Systems Stock Up 2.9 %

Shares of NYSE:EPAM opened at $264.69 on Friday. EPAM Systems, Inc. has a 1-year low of $169.43 and a 1-year high of $317.50. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.56 and a quick ratio of 4.56. The stock has a market cap of $15.01 billion, a P/E ratio of 34.38, a P/E/G ratio of 3.75 and a beta of 1.51. The firm has a fifty day moving average price of $241.54 and a 200 day moving average price of $218.79.

Analysts Set New Price Targets

A number of research firms recently issued reports on EPAM. Barclays upgraded EPAM Systems from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $250.00 to $290.00 in a report on Tuesday, December 17th. Citigroup boosted their price objective on EPAM Systems from $207.00 to $210.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Itau BBA Securities upgraded shares of EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 price objective on the stock in a report on Friday, November 8th. Jefferies Financial Group lowered their target price on shares of EPAM Systems from $305.00 to $288.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Finally, Susquehanna raised their price target on EPAM Systems from $240.00 to $270.00 and gave the company a “positive” rating in a research note on Friday, November 8th. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $271.47.

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.