Baird Financial Group Inc. Sells 22,043 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Baird Financial Group Inc. cut its stake in EPAM Systems, Inc. (NYSE:EPAM) by 8.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 250,946 shares of the information technology services provider’s stock after selling 22,043 shares during the quarter. Baird Financial Group Inc. owned approximately 0.44% of EPAM Systems worth $58,676,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of EPAM. EverSource Wealth Advisors LLC lifted its position in EPAM Systems by 90.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 54 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of EPAM Systems by 2,500.0% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 130 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 125 shares during the period. TD Private Client Wealth LLC increased its stake in shares of EPAM Systems by 88.5% during the fourth quarter. TD Private Client Wealth LLC now owns 147 shares of the information technology services provider’s stock worth $34,000 after purchasing an additional 69 shares during the period. Versant Capital Management Inc bought a new stake in EPAM Systems in the 4th quarter valued at $35,000. Finally, Manchester Capital Management LLC boosted its stake in EPAM Systems by 590.0% in the 4th quarter. Manchester Capital Management LLC now owns 207 shares of the information technology services provider’s stock valued at $48,000 after purchasing an additional 177 shares during the period. Institutional investors and hedge funds own 91.58% of the company’s stock.

EPAM Systems Stock Up 1.2 %

Shares of NYSE:EPAM opened at $160.36 on Monday. EPAM Systems, Inc. has a 52-week low of $138.15 and a 52-week high of $269.00. The company has a market capitalization of $9.15 billion, a PE ratio of 20.45, a price-to-earnings-growth ratio of 3.38 and a beta of 1.71. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 2.96. The company has a fifty day moving average of $169.62 and a 200-day moving average of $212.23.

EPAM Systems (NYSE:EPAM) last posted 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 firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.21 billion. EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. On average, equities analysts predict that EPAM Systems, Inc. will post 8.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on EPAM. Scotiabank dropped their target price on EPAM Systems from $250.00 to $200.00 and set a “sector outperform” rating for the company in a report on Tuesday, April 29th. Susquehanna dropped their price objective on shares of EPAM Systems from $270.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday, April 23rd. Morgan Stanley raised their target price on shares of EPAM Systems from $230.00 to $256.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Barclays dropped their price target on shares of EPAM Systems from $270.00 to $200.00 and set an “overweight” rating for the company in a research report on Friday, April 25th. Finally, Stifel Nicolaus reduced their price target on EPAM Systems from $275.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $232.88.

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.