Capital Group Investment Management PTE. LTD. Has $656,000 Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Capital Group Investment Management PTE. LTD. boosted its stake in EPAM Systems, Inc. (NYSE:EPAM) by 7.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,804 shares of the information technology services provider’s stock after buying an additional 191 shares during the period. Capital Group Investment Management PTE. LTD.’s holdings in EPAM Systems were worth $656,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. American Century Companies Inc. increased its stake in shares of EPAM Systems by 35.8% in the fourth quarter. American Century Companies Inc. now owns 20,597 shares of the information technology services provider’s stock valued at $4,816,000 after buying an additional 5,435 shares during the period. Centre Asset Management LLC acquired a new stake in EPAM Systems during the 4th quarter valued at approximately $8,757,000. Oliver Luxxe Assets LLC bought a new position in EPAM Systems during the 4th quarter worth approximately $1,889,000. DnB Asset Management AS lifted its position in shares of EPAM Systems by 26.4% in the 4th quarter. DnB Asset Management AS now owns 11,245 shares of the information technology services provider’s stock worth $2,629,000 after purchasing an additional 2,349 shares during the period. Finally, Merit Financial Group LLC bought a new stake in shares of EPAM Systems in the 4th quarter valued at $245,000. 91.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on EPAM shares. Piper Sandler downgraded shares of EPAM Systems from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $251.00 to $170.00 in a research note on Wednesday. Scotiabank cut their price target on EPAM Systems from $275.00 to $250.00 and set a “sector outperform” rating on the stock in a report on Monday, February 24th. Barclays lowered their price objective 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. Jefferies Financial Group cut their target price on shares of EPAM Systems from $305.00 to $288.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. Finally, 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. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $245.93.

Insider Buying and Selling at EPAM Systems

In other news, CFO Jason D. Peterson sold 1,078 shares of the company’s stock in a transaction 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 transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.30% of the company’s stock.

EPAM Systems Price Performance

EPAM Systems stock opened at $146.80 on Friday. EPAM Systems, Inc. has a 52 week low of $138.15 and a 52 week high of $269.00. The company’s 50 day moving average price is $189.52 and its two-hundred day moving average price is $215.14. The stock has a market cap of $8.38 billion, a P/E ratio of 18.72, a P/E/G ratio of 3.38 and a beta of 1.69. The company has a quick ratio of 4.56, a current ratio of 2.96 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAM) last announced its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $2.23 earnings per share (EPS) 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 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 earnings per share for the current year.

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.