Wellington Management Group LLP Decreases Stock Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Wellington Management Group LLP reduced its holdings in EPAM Systems, Inc. (NYSE:EPAM) by 9.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 193,467 shares of the information technology services provider’s stock after selling 20,827 shares during the period. Wellington Management Group LLP’s holdings in EPAM Systems were worth $45,236,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Norges Bank purchased a new stake in EPAM Systems during the 4th quarter valued at $173,053,000. William Blair Investment Management LLC bought a new stake in shares of EPAM Systems in the 4th quarter worth about $166,906,000. Manning & Napier Advisors LLC lifted its holdings in shares of EPAM Systems by 48.8% in the 4th quarter. Manning & Napier Advisors LLC now owns 664,286 shares of the information technology services provider’s stock worth $155,323,000 after acquiring an additional 217,960 shares during the last quarter. TD Asset Management Inc. boosted its stake in shares of EPAM Systems by 9.8% during the 4th quarter. TD Asset Management Inc. now owns 533,571 shares of the information technology services provider’s stock worth $124,760,000 after purchasing an additional 47,659 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in EPAM Systems by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 522,144 shares of the information technology services provider’s stock valued at $122,088,000 after purchasing an additional 6,793 shares during the last quarter. 91.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. StockNews.com raised shares of EPAM Systems from a “hold” rating to a “buy” rating in a research note on Friday. 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. Barclays reduced their target price on EPAM Systems from $290.00 to $270.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. Morgan Stanley boosted 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 note on Friday, January 31st. Finally, Jefferies Financial Group decreased their price objective 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. Six 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, EPAM Systems has an average rating of “Moderate Buy” and a consensus target price of $257.31.

EPAM Systems Trading Down 7.0 %

EPAM opened at $144.73 on Friday. The company has a current ratio of 2.96, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01. The firm has a market cap of $8.23 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 3.38 and a beta of 1.61. EPAM Systems, Inc. has a 12 month low of $144.00 and a 12 month high of $275.49. The stock has a fifty day moving average price of $213.08 and a 200-day moving average price of $219.17.

EPAM Systems (NYSE:EPAM) last released its quarterly 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). EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.21 billion. As a group, equities research analysts anticipate that EPAM Systems, Inc. will post 8.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other EPAM Systems news, CFO Jason D. Peterson sold 1,078 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $257.00, for a total value 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 approximately $6,009,174. This trade represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.30% of the company’s stock.

EPAM Systems 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.