EPAM Systems, Inc. (NYSE:EPAM) Holdings Cut by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System cut its stake in shares of EPAM Systems, Inc. (NYSE:EPAM) by 8.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,915 shares of the information technology services provider’s stock after selling 254 shares during the quarter. Maryland State Retirement & Pension System’s holdings in EPAM Systems were worth $682,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Intech Investment Management LLC acquired a new position in shares of EPAM Systems during the fourth quarter valued at $484,000. William Blair Investment Management LLC bought a new stake in EPAM Systems in the 4th quarter valued at about $166,906,000. Cibc World Markets Corp boosted its stake in EPAM Systems by 14.2% during the 4th quarter. Cibc World Markets Corp now owns 8,938 shares of the information technology services provider’s stock valued at $2,090,000 after purchasing an additional 1,111 shares during the period. Choate Investment Advisors bought a new position in EPAM Systems in the 4th quarter worth about $244,000. Finally, Globeflex Capital L P bought a new position in EPAM Systems in the 4th quarter worth about $3,718,000. 91.58% of the stock is currently owned by institutional investors and hedge funds.

EPAM Systems Trading Up 1.9 %

Shares of NYSE EPAM opened at $178.58 on Tuesday. The business has a fifty day simple moving average of $225.24 and a 200-day simple moving average of $221.60. The company has a market cap of $10.16 billion, a price-to-earnings ratio of 22.78, a P/E/G ratio of 3.38 and a beta of 1.61. EPAM Systems, Inc. has a 12 month low of $169.43 and a 12 month high of $281.62. The company has a quick ratio of 4.56, a current ratio of 2.96 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAM) last announced its earnings results on Thursday, February 20th. The information technology services provider reported $2.23 EPS 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 analyst estimates of $1.21 billion. Sell-side analysts predict that EPAM Systems, Inc. will post 8.9 EPS for the current year.

Analyst Upgrades and Downgrades

EPAM has been the topic of a number of recent analyst reports. The Goldman Sachs Group raised EPAM Systems from a “neutral” rating to a “buy” rating and lifted their price target for the company from $235.00 to $295.00 in a report on Friday, December 6th. Scotiabank reduced their price target on EPAM Systems from $275.00 to $250.00 and set a “sector outperform” rating for the company in a research report on Monday, February 24th. Morgan Stanley increased their price target on EPAM Systems from $230.00 to $256.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Barclays cut their price objective on shares of EPAM Systems from $290.00 to $270.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. Finally, Needham & Company LLC reissued a “buy” rating and set a $265.00 target price on shares of EPAM Systems in a research note on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $262.47.

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 dated Monday, January 27th. The stock was sold at an average price of $257.00, for a total transaction of $277,046.00. Following the completion of 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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.