Westpac Banking Corp Sells 76 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Westpac Banking Corp cut its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM) by 13.1% in the 4th quarter, HoldingsChannel reports. The fund owned 506 shares of the information technology services provider’s stock after selling 76 shares during the period. Westpac Banking Corp’s holdings in EPAM Systems were worth $118,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in EPAM. Norges Bank bought a new stake in EPAM Systems during the 4th quarter worth approximately $173,053,000. William Blair Investment Management LLC purchased a new position in shares of EPAM Systems during the fourth quarter valued at approximately $166,906,000. Massachusetts Financial Services Co. MA grew its holdings in EPAM Systems by 96.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 818,881 shares of the information technology services provider’s stock worth $191,471,000 after buying an additional 401,355 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in EPAM Systems in the 4th quarter valued at $86,699,000. Finally, Manning & Napier Advisors LLC lifted its stake in EPAM Systems by 48.8% during the 4th 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 in the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

EPAM Systems Price Performance

Shares of NYSE:EPAM opened at $144.73 on Friday. The firm has a market capitalization of $8.23 billion, a PE ratio of 18.46, a P/E/G ratio of 3.38 and a beta of 1.61. The company has a quick ratio of 4.56, a current ratio of 2.96 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average price of $213.08 and a two-hundred day moving average price of $219.04. EPAM Systems, Inc. has a twelve month low of $144.00 and a twelve month high of $275.49.

EPAM Systems (NYSE:EPAM) last released its quarterly earnings data 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). The business had revenue of $1.25 billion during 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%. Equities analysts forecast that EPAM Systems, Inc. will post 8.9 EPS for the current year.

Insider Activity at EPAM Systems

In related news, CFO Jason D. Peterson sold 1,078 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 23,382 shares of the company’s stock, valued at approximately $6,009,174. The trade was a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on EPAM shares. Barclays reduced their target price on shares of EPAM Systems from $290.00 to $270.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Scotiabank reduced their price objective on shares of 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. Needham & Company LLC reiterated a “buy” rating and issued a $265.00 price objective on shares of EPAM Systems in a research note on Thursday, February 20th. StockNews.com upgraded EPAM Systems from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Jefferies Financial Group decreased their price target on EPAM Systems from $305.00 to $288.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, EPAM Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $257.31.

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.