CIBC Asset Management Inc Buys 348 Shares of EPAM Systems, Inc. (NYSE:EPAM)

CIBC Asset Management Inc boosted its position in EPAM Systems, Inc. (NYSE:EPAM) by 4.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,675 shares of the information technology services provider’s stock after buying an additional 348 shares during the quarter. CIBC Asset Management Inc’s holdings in EPAM Systems were worth $2,028,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in EPAM. Metis Global Partners LLC increased its stake in shares of EPAM Systems by 2.5% in the third quarter. Metis Global Partners LLC now owns 2,029 shares of the information technology services provider’s stock worth $404,000 after buying an additional 50 shares during the period. First Horizon Advisors Inc. lifted its position in EPAM Systems by 21.3% during the third quarter. First Horizon Advisors Inc. now owns 325 shares of the information technology services provider’s stock valued at $65,000 after buying an additional 57 shares during the period. SkyView Investment Advisors LLC boosted its stake in EPAM Systems by 3.0% during the third quarter. SkyView Investment Advisors LLC now owns 2,055 shares of the information technology services provider’s stock worth $409,000 after acquiring an additional 60 shares in the last quarter. Empirical Finance LLC boosted its position in shares of EPAM Systems by 5.2% in the 3rd quarter. Empirical Finance LLC now owns 1,362 shares of the information technology services provider’s stock worth $271,000 after purchasing an additional 67 shares in the last quarter. Finally, Covestor Ltd grew its stake in shares of EPAM Systems by 16.4% in the third quarter. Covestor Ltd now owns 490 shares of the information technology services provider’s stock worth $98,000 after acquiring an additional 69 shares during the last quarter. Institutional investors own 91.58% of the company’s stock.

EPAM Systems Stock Performance

NYSE:EPAM opened at $208.98 on Friday. EPAM Systems, Inc. has a fifty-two week low of $169.43 and a fifty-two week high of $317.50. The firm has a market capitalization of $11.85 billion, a PE ratio of 27.14, a PEG ratio of 3.88 and a beta of 1.51. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 4.56. The stock’s fifty day moving average is $243.56 and its 200 day moving average is $222.23.

EPAM Systems (NYSE:EPAM) last issued 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). The business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.21 billion. EPAM Systems had a return on equity of 14.92% and a net margin of 9.68%. On average, sell-side analysts anticipate that EPAM Systems, Inc. will post 8.59 earnings per share for the current year.

Insiders Place Their Bets

In other EPAM Systems news, CFO Jason D. Peterson sold 1,078 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $257.00, for a total value of $277,046.00. Following the completion of the transaction, the chief financial officer now directly owns 23,382 shares in the company, valued at approximately $6,009,174. The trade was a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Viktar Dvorkin sold 6,758 shares of the business’s stock in a transaction that occurred on 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 approximately $3,334,890. This trade represents a 34.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,300 shares of company stock worth $2,129,924 in the last three months. Corporate insiders own 4.30% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on EPAM shares. Scotiabank raised shares of EPAM Systems from a “sector perform” rating to a “sector outperform” rating and raised their price target for the company from $245.00 to $275.00 in a research report on Monday, November 11th. Morgan Stanley raised their price objective on shares of EPAM Systems from $230.00 to $256.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Needham & Company LLC restated a “buy” rating and issued a $265.00 price target on shares of EPAM Systems in a research report on Thursday. Jefferies Financial Group lowered their target price on shares of EPAM Systems from $305.00 to $288.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. Finally, Susquehanna upped their price target on EPAM Systems from $240.00 to $270.00 and gave the stock a “positive” rating in a research note on Friday, November 8th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $269.83.

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.