KLP Kapitalforvaltning AS Invests $4.54 Million in EPAM Systems, Inc. (NYSE:EPAM)

KLP Kapitalforvaltning AS acquired a new stake in shares of EPAM Systems, Inc. (NYSE:EPAM) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 19,400 shares of the information technology services provider’s stock, valued at approximately $4,536,000.

Other institutional investors have also bought and sold shares of the company. William Blair Investment Management LLC acquired a new position in EPAM Systems during the 4th quarter valued at about $166,906,000. Manning & Napier Advisors LLC increased its stake in shares of EPAM Systems by 48.8% during the fourth quarter. Manning & Napier Advisors LLC now owns 664,286 shares of the information technology services provider’s stock valued at $155,323,000 after acquiring an additional 217,960 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in EPAM Systems by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 522,144 shares of the information technology services provider’s stock worth $122,088,000 after purchasing an additional 6,793 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in EPAM Systems in the fourth quarter worth approximately $86,699,000. Finally, Assenagon Asset Management S.A. boosted its stake in EPAM Systems by 10.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 346,201 shares of the information technology services provider’s stock valued at $80,949,000 after purchasing an additional 33,715 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on EPAM shares. StockNews.com downgraded EPAM Systems from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Jefferies Financial Group reduced their price objective on shares of EPAM Systems from $305.00 to $288.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Scotiabank dropped their target price on shares of EPAM Systems from $275.00 to $250.00 and set a “sector outperform” rating on the stock in a report on Monday, February 24th. The Goldman Sachs Group upgraded shares of EPAM Systems from a “neutral” rating to a “buy” rating and raised their target price for the stock from $235.00 to $295.00 in a report on Friday, December 6th. Finally, Morgan Stanley upped their price target on EPAM Systems from $230.00 to $256.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $262.47.

EPAM Systems Trading Up 0.5 %

Shares of NYSE EPAM opened at $179.12 on Wednesday. The company has a current ratio of 2.96, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01. EPAM Systems, Inc. has a one year low of $169.43 and a one year high of $281.62. The business has a 50-day moving average price of $224.30 and a two-hundred day moving average price of $221.42. The firm has a market capitalization of $10.19 billion, a PE ratio of 22.85, a PEG ratio of 3.38 and a beta of 1.61.

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 company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.21 billion. As a group, analysts predict that EPAM Systems, Inc. will post 8.9 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Jason D. Peterson sold 1,078 shares of EPAM Systems 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 $6,009,174. The trade was a 4.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.30% of the stock is currently owned by corporate insiders.

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.