Cinctive Capital Management LP Takes Position in EPAM Systems, Inc. (NYSE:EPAM)

Cinctive Capital Management LP acquired a new stake in shares of EPAM Systems, Inc. (NYSE:EPAM) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 22,698 shares of the information technology services provider’s stock, valued at approximately $5,307,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Centre Asset Management LLC acquired a new stake in shares of EPAM Systems during the 4th quarter worth about $8,757,000. Oliver Luxxe Assets LLC purchased a new position in shares of EPAM Systems during the fourth quarter valued at approximately $1,889,000. iA Global Asset Management Inc. lifted its stake in shares of EPAM Systems by 165.2% during the third quarter. iA Global Asset Management Inc. now owns 3,700 shares of the information technology services provider’s stock valued at $736,000 after buying an additional 2,305 shares during the period. Merit Financial Group LLC acquired a new stake in EPAM Systems during the fourth quarter worth approximately $245,000. Finally, The Manufacturers Life Insurance Company grew its stake in EPAM Systems by 21.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 45,188 shares of the information technology services provider’s stock worth $8,994,000 after acquiring an additional 7,885 shares during the period. Hedge funds and other institutional investors own 91.58% of the company’s stock.

EPAM Systems Trading Up 1.0 %

NYSE:EPAM opened at $169.16 on Thursday. The business’s 50-day moving average is $217.03 and its two-hundred day moving average is $219.91. The firm has a market capitalization of $9.62 billion, a PE ratio of 21.58, a price-to-earnings-growth ratio of 3.38 and a beta of 1.61. EPAM Systems, Inc. has a 12 month low of $162.74 and a 12 month high of $275.49. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.96 and a quick ratio of 4.56.

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). The company had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.21 billion. EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. Research analysts predict that EPAM Systems, Inc. will post 8.9 earnings per share for the current fiscal year.

Insider Transactions at EPAM Systems

In other EPAM Systems news, CFO Jason D. Peterson sold 1,078 shares of the stock in a transaction on Monday, January 27th. The shares were sold at an average price of $257.00, for a total transaction of $277,046.00. Following the sale, the chief financial officer now directly owns 23,382 shares of the company’s stock, valued at approximately $6,009,174. This represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on EPAM shares. Needham & Company LLC restated a “buy” rating and set a $265.00 price objective on shares of EPAM Systems in a report on Thursday, February 20th. StockNews.com lowered EPAM Systems from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Morgan Stanley lifted 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. 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 report on Monday, March 10th. Finally, Scotiabank lowered their target price on shares of EPAM Systems from $275.00 to $250.00 and set a “sector outperform” rating for the company in a report on Monday, February 24th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $262.47.

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.