West Michigan Advisors LLC Makes New $214,000 Investment in EPAM Systems, Inc. (NYSE:EPAM)

West Michigan Advisors LLC purchased a new stake in shares of EPAM Systems, Inc. (NYSE:EPAM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 916 shares of the information technology services provider’s stock, valued at approximately $214,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Geneva Capital Management LLC boosted its position in EPAM Systems by 6.0% during the third quarter. Geneva Capital Management LLC now owns 71,281 shares of the information technology services provider’s stock worth $14,187,000 after purchasing an additional 4,027 shares during the period. Centre Asset Management LLC bought a new stake in shares of EPAM Systems during the 4th quarter worth $8,757,000. Oppenheimer Asset Management Inc. acquired a new position in EPAM Systems in the 3rd quarter valued at $8,195,000. Oliver Luxxe Assets LLC bought a new position in EPAM Systems in the 4th quarter worth $1,889,000. Finally, Victory Capital Management Inc. raised its holdings in EPAM Systems by 247.6% in the 3rd quarter. Victory Capital Management Inc. now owns 72,447 shares of the information technology services provider’s stock worth $14,419,000 after acquiring an additional 51,603 shares during the period. Institutional investors and hedge funds own 91.58% of the company’s stock.

EPAM Systems Stock Performance

Shares of NYSE:EPAM opened at $206.02 on Friday. 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 business’s fifty day moving average price is $239.96 and its two-hundred day moving average price is $222.81. EPAM Systems, Inc. has a fifty-two week low of $169.43 and a fifty-two week high of $317.50. The stock has a market capitalization of $11.69 billion, a price-to-earnings ratio of 26.28, a price-to-earnings-growth ratio of 3.38 and a beta of 1.51.

EPAM Systems (NYSE:EPAM) last posted its earnings results on Thursday, February 20th. The information technology services provider reported $2.23 earnings per share for the quarter, missing the consensus estimate of $2.75 by ($0.52). EPAM Systems had a return on equity of 14.60% and a net margin of 9.61%. The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.21 billion. As a group, analysts predict that EPAM Systems, Inc. will post 8.9 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Scotiabank lowered their price target on EPAM Systems from $275.00 to $250.00 and set a “sector outperform” rating on the stock in a research report on Monday, February 24th. Piper Sandler raised their target price on EPAM Systems from $225.00 to $258.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. The Goldman Sachs Group upgraded EPAM Systems from a “neutral” rating to a “buy” rating and upped their price target for the stock from $235.00 to $295.00 in a report on Friday, December 6th. 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 research note on Friday, January 31st. Finally, 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. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $268.44.

Insider Transactions at EPAM Systems

In other news, SVP Viktar Dvorkin sold 6,758 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $256.53, for a total value of $1,733,629.74. Following the completion of the sale, the senior vice president now directly owns 13,000 shares in the company, valued at approximately $3,334,890. This trade represents a 34.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Jason D. Peterson sold 464 shares of EPAM Systems stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $257.00, for a total value of $119,248.00. Following the completion of the transaction, the chief financial officer now directly owns 24,372 shares of the company’s stock, valued at $6,263,604. This represents a 1.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,300 shares of company stock valued at $2,129,924. Corporate insiders own 4.30% of the company’s stock.

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.