Renaissance Technologies LLC Acquires 213,600 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Renaissance Technologies LLC boosted its stake in EPAM Systems, Inc. (NYSE:EPAM) by 2,483.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 222,200 shares of the information technology services provider’s stock after buying an additional 213,600 shares during the period. Renaissance Technologies LLC’s holdings in EPAM Systems were worth $51,955,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Aurora Investment Counsel raised its holdings in EPAM Systems by 0.7% in the 4th quarter. Aurora Investment Counsel now owns 6,101 shares of the information technology services provider’s stock worth $1,427,000 after acquiring an additional 45 shares during the last quarter. UniSuper Management Pty Ltd lifted its stake in EPAM Systems by 0.3% in the 4th quarter. UniSuper Management Pty Ltd now owns 15,632 shares of the information technology services provider’s stock worth $3,655,000 after purchasing an additional 52 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in EPAM Systems by 90.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 54 shares in the last quarter. SkyView Investment Advisors LLC raised its position in shares of EPAM Systems by 3.0% during the 3rd quarter. SkyView Investment Advisors LLC now owns 2,055 shares of the information technology services provider’s stock valued at $409,000 after buying an additional 60 shares in the last quarter. Finally, Baker Tilly Wealth Management LLC raised its position in shares of EPAM Systems by 4.9% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 1,465 shares of the information technology services provider’s stock valued at $343,000 after buying an additional 69 shares in the last quarter. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on EPAM. Barclays dropped their target price 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. Jefferies Financial Group reduced their target price on shares of EPAM Systems from $305.00 to $288.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. Morgan Stanley lifted their target price on shares of EPAM Systems from $230.00 to $256.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Needham & Company LLC reissued a “buy” rating and issued a $265.00 price target on shares of EPAM Systems in a research note on Thursday, February 20th. Finally, StockNews.com raised shares of EPAM Systems from a “hold” rating to a “buy” rating in a research note on Friday, April 4th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, EPAM Systems presently has an average rating of “Moderate Buy” and an average price target of $257.31.

Insider Activity

In other EPAM Systems news, CFO Jason D. Peterson sold 1,078 shares of the company’s stock in a transaction that occurred on 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 owns 23,382 shares of the company’s stock, valued at $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 through the SEC website. 4.30% of the stock is owned by corporate insiders.

EPAM Systems Stock Up 11.1 %

EPAM stock opened at $159.23 on Thursday. The firm has a fifty day moving average price of $202.78 and a two-hundred day moving average price of $217.36. The firm has a market cap of $9.09 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 3.38 and a beta of 1.69. 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, Inc. has a 1-year low of $138.15 and a 1-year high of $271.61.

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 for the quarter, missing analysts’ consensus estimates of $2.75 by ($0.52). EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.21 billion. Research analysts predict that EPAM Systems, Inc. will post 8.9 EPS for the current year.

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.