Sterling Capital Management LLC Increases Stock Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Sterling Capital Management LLC increased its stake in shares of EPAM Systems, Inc. (NYSE:EPAM) by 58.5% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 3,247 shares of the information technology services provider’s stock after acquiring an additional 1,198 shares during the period. Sterling Capital Management LLC’s holdings in EPAM Systems were worth $759,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of EPAM Systems during the fourth quarter worth $173,053,000. William Blair Investment Management LLC acquired a new stake in EPAM Systems during the 4th quarter valued at $166,906,000. Massachusetts Financial Services Co. MA increased its stake in EPAM Systems by 96.1% during the 4th 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 during the period. Teacher Retirement System of Texas acquired a new position in EPAM Systems in the 4th quarter worth $86,699,000. Finally, Manning & Napier Advisors LLC boosted its position in 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 valued at $155,323,000 after buying an additional 217,960 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Jefferies Financial Group dropped their target price on EPAM Systems from $305.00 to $288.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $265.00 target price on shares of EPAM Systems in a research report on Thursday, February 20th. Barclays reduced their target price on EPAM Systems from $290.00 to $270.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Piper Sandler lowered shares of EPAM Systems from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $251.00 to $170.00 in a research note on Wednesday. Finally, Scotiabank reduced their price objective on shares of EPAM Systems from $275.00 to $250.00 and set a “sector outperform” rating on the stock in a research note on Monday, February 24th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $245.93.

EPAM Systems Stock Performance

Shares of EPAM stock opened at $147.50 on Thursday. 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 business has a 50 day moving average of $191.78 and a two-hundred day moving average of $215.50. The company has a market cap of $8.42 billion, a P/E ratio of 18.81, a PEG ratio of 3.38 and a beta of 1.69. EPAM Systems, Inc. has a 52 week low of $138.15 and a 52 week high of $269.00.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $2.23 EPS for the quarter, missing analysts’ consensus estimates of $2.75 by ($0.52). The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.21 billion. EPAM Systems had a return on equity of 14.60% and a net margin of 9.61%. As a group, analysts anticipate that EPAM Systems, Inc. will post 8.9 EPS for the current year.

Insider Activity

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 stock was sold at an average price of $257.00, for a total transaction of $277,046.00. Following the sale, the chief financial officer now owns 23,382 shares of the company’s stock, valued at $6,009,174. The trade was 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.

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.