Allspring Global Investments Holdings LLC Raises Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Allspring Global Investments Holdings LLC increased its position in EPAM Systems, Inc. (NYSE:EPAM) by 104.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 98,652 shares of the information technology services provider’s stock after buying an additional 50,513 shares during the period. Allspring Global Investments Holdings LLC’s holdings in EPAM Systems were worth $29,333,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in EPAM. Norges Bank purchased a new position in shares of EPAM Systems in the 4th quarter worth $181,396,000. International Assets Investment Management LLC acquired a new position in shares of EPAM Systems during the fourth quarter worth about $663,080,000. State Street Corp lifted its stake in shares of EPAM Systems by 9.1% during the first quarter. State Street Corp now owns 2,471,924 shares of the information technology services provider’s stock worth $733,197,000 after purchasing an additional 206,636 shares in the last quarter. Westfield Capital Management Co. LP acquired a new position in shares of EPAM Systems during the first quarter worth about $58,916,000. Finally, Renaissance Technologies LLC acquired a new position in shares of EPAM Systems during the first quarter worth about $49,335,000. 91.58% of the stock is owned by hedge funds and other institutional investors.

EPAM Systems Price Performance

NYSE EPAM opened at $259.02 on Friday. The stock has a market capitalization of $14.98 billion, a P/E ratio of 36.64, a P/E/G ratio of 11.63 and a beta of 1.43. EPAM Systems, Inc. has a 1 year low of $197.99 and a 1 year high of $317.50. The business’s fifty day moving average is $289.53 and its two-hundred day moving average is $273.57. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.79 and a current ratio of 4.79.

EPAM Systems (NYSE:EPAM) last announced its earnings results on Thursday, February 15th. The information technology services provider reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.51 by $0.24. EPAM Systems had a net margin of 8.89% and a return on equity of 15.53%. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the previous year, the business earned $2.71 EPS. The company’s revenue was down 6.0% on a year-over-year basis. On average, research analysts forecast that EPAM Systems, Inc. will post 7.72 earnings per share for the current fiscal year.

Insider Transactions at EPAM Systems

In related news, SVP Sergey Yezhkov sold 8,000 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $302.04, for a total value of $2,416,320.00. Following the completion of the sale, the senior vice president now directly owns 12,770 shares in the company, valued at $3,857,050.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Sergey Yezhkov sold 8,000 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $302.04, for a total value of $2,416,320.00. Following the completion of the sale, the senior vice president now directly owns 12,770 shares in the company, valued at $3,857,050.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Lawrence F. Solomon sold 5,350 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $306.00, for a total transaction of $1,637,100.00. Following the sale, the senior vice president now owns 12,117 shares of the company’s stock, valued at $3,707,802. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,820 shares of company stock valued at $5,101,117. 3.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

EPAM has been the topic of a number of analyst reports. Stifel Nicolaus lifted their target price on EPAM Systems from $288.00 to $301.00 and gave the stock a “buy” rating in a research report on Monday, February 12th. Morgan Stanley lowered their price objective on EPAM Systems from $250.00 to $236.00 and set an “underweight” rating for the company in a report on Friday, March 22nd. Scotiabank raised EPAM Systems from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $265.00 to $350.00 in a report on Friday, February 16th. Wolfe Research raised EPAM Systems from a “peer perform” rating to an “outperform” rating and set a $355.00 target price for the company in a report on Thursday, January 4th. Finally, Wedbush reaffirmed an “outperform” rating and set a $340.00 target price on shares of EPAM Systems in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $331.33.

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.