Bank of New York Mellon Corp Lowers Stock Position in EPAM Systems, Inc. (NYSE:EPAM)

Bank of New York Mellon Corp trimmed its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 2.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 394,891 shares of the information technology services provider’s stock after selling 11,734 shares during the period. Bank of New York Mellon Corp’s holdings in EPAM Systems were worth $92,333,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in EPAM. Versant Capital Management Inc acquired a new stake in shares of EPAM Systems in the fourth quarter worth $35,000. Farther Finance Advisors LLC boosted its position in EPAM Systems by 101.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 211 shares of the information technology services provider’s stock worth $42,000 after purchasing an additional 106 shares during the period. Capital Performance Advisors LLP acquired a new stake in EPAM Systems in the 3rd quarter valued at $44,000. Manchester Capital Management LLC raised its position in EPAM Systems by 590.0% in the fourth quarter. Manchester Capital Management LLC now owns 207 shares of the information technology services provider’s stock valued at $48,000 after purchasing an additional 177 shares during the period. Finally, Sentry Investment Management LLC acquired a new position in shares of EPAM Systems during the third quarter worth about $52,000. 91.58% of the stock is owned by hedge funds and other institutional investors.

EPAM Systems Stock Performance

Shares of EPAM opened at $206.02 on Monday. The stock has a market capitalization of $11.69 billion, a PE ratio of 26.28, a price-to-earnings-growth ratio of 3.38 and a beta of 1.51. The business’s fifty day moving average price is $239.96 and its 200 day moving average price is $222.97. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.96 and a quick ratio of 4.56. EPAM Systems, Inc. has a 12-month low of $169.43 and a 12-month high of $317.50.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $2.75 by ($0.52). EPAM Systems had a return on equity of 14.60% and a net margin of 9.61%. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.21 billion. Equities research analysts forecast that EPAM Systems, Inc. will post 8.9 EPS for the current year.

Analysts Set New Price Targets

EPAM has been the subject of a number of recent research reports. The Goldman Sachs Group upgraded EPAM Systems from a “neutral” rating to a “buy” rating and increased their target price for the company from $235.00 to $295.00 in a research note on Friday, December 6th. Barclays upgraded shares of EPAM Systems from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $250.00 to $290.00 in a research note on Tuesday, December 17th. Susquehanna upped their target price on shares of EPAM Systems from $240.00 to $270.00 and gave the company a “positive” rating in a research note on Friday, November 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $265.00 price target on shares of EPAM Systems in a research note on Thursday, February 20th. Finally, Morgan Stanley upped 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 report on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $268.44.

Insider Buying and Selling at EPAM Systems

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 value of $277,046.00. Following the sale, the chief financial officer now directly owns 23,382 shares in the company, 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 can be accessed through this link. Also, SVP Viktar Dvorkin sold 6,758 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $256.53, for a total transaction of $1,733,629.74. Following the transaction, the senior vice president now owns 13,000 shares of the company’s stock, valued at $3,334,890. This represents a 34.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,300 shares of company stock worth $2,129,924 over the last ninety days. Company insiders own 4.30% of the company’s stock.

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.