New Mexico Educational Retirement Board Cuts Position in EPAM Systems, Inc. (NYSE:EPAM)

New Mexico Educational Retirement Board lessened its holdings in EPAM Systems, Inc. (NYSE:EPAMGet Rating) by 5.7% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,300 shares of the information technology services provider’s stock after selling 200 shares during the period. New Mexico Educational Retirement Board’s holdings in EPAM Systems were worth $979,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Bristlecone Advisors LLC raised its holdings in shares of EPAM Systems by 2.3% in the 4th quarter. Bristlecone Advisors LLC now owns 981 shares of the information technology services provider’s stock worth $656,000 after purchasing an additional 22 shares during the period. Quadrant Capital Group LLC raised its holdings in shares of EPAM Systems by 7.4% in the 4th quarter. Quadrant Capital Group LLC now owns 332 shares of the information technology services provider’s stock worth $222,000 after purchasing an additional 23 shares during the period. Huntington National Bank raised its holdings in shares of EPAM Systems by 10.5% in the 4th quarter. Huntington National Bank now owns 316 shares of the information technology services provider’s stock worth $211,000 after purchasing an additional 30 shares during the period. Avestar Capital LLC raised its holdings in shares of EPAM Systems by 7.9% in the 4th quarter. Avestar Capital LLC now owns 530 shares of the information technology services provider’s stock worth $354,000 after purchasing an additional 39 shares during the period. Finally, Allworth Financial LP raised its holdings in shares of EPAM Systems by 56.9% in the 4th quarter. Allworth Financial LP now owns 113 shares of the information technology services provider’s stock worth $76,000 after purchasing an additional 41 shares during the period. Hedge funds and other institutional investors own 95.24% of the company’s stock.

EPAM Systems stock opened at $309.44 on Thursday. The stock has a market cap of $17.68 billion, a P/E ratio of 39.62, a PEG ratio of 2.36 and a beta of 1.76. EPAM Systems, Inc. has a fifty-two week low of $168.59 and a fifty-two week high of $725.40. The firm’s fifty day moving average price is $306.68 and its 200-day moving average price is $394.21. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.32 and a current ratio of 3.32.

EPAM Systems (NYSE:EPAMGet Rating) last announced its earnings results on Thursday, May 5th. The information technology services provider reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.82. EPAM Systems had a net margin of 11.14% and a return on equity of 21.92%. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the previous year, the business earned $1.63 earnings per share. The firm’s quarterly revenue was up 50.1% compared to the same quarter last year. Sell-side analysts predict that EPAM Systems, Inc. will post 7.3 earnings per share for the current year.

In related news, CFO Jason D. Peterson sold 400 shares of the company’s stock in a transaction on Friday, May 20th. The shares were sold at an average price of $335.00, for a total value of $134,000.00. Following the completion of the transaction, the chief financial officer now directly owns 11,762 shares in the company, valued at $3,940,270. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jason D. Peterson sold 1,000 shares of the company’s stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $325.00, for a total transaction of $325,000.00. Following the sale, the chief financial officer now owns 12,162 shares of the company’s stock, valued at $3,952,650. The disclosure for this sale can be found here. Insiders sold 1,500 shares of company stock valued at $493,710 over the last quarter. 4.10% of the stock is owned by company insiders.

EPAM has been the topic of a number of research reports. Barclays lifted their price target on shares of EPAM Systems from $350.00 to $410.00 in a report on Monday, May 9th. Bank of America raised shares of EPAM Systems from a “neutral” rating to a “buy” rating and boosted their target price for the company from $312.00 to $400.00 in a report on Friday, May 6th. Stifel Nicolaus lowered their target price on shares of EPAM Systems from $630.00 to $385.00 and set a “buy” rating on the stock in a report on Tuesday, March 1st. Wolfe Research raised shares of EPAM Systems from a “peer perform” rating to an “outperform” rating and set a $390.00 target price on the stock in a report on Monday, April 11th. Finally, Needham & Company LLC lowered their target price on shares of EPAM Systems from $650.00 to $285.00 and set a “buy” rating on the stock in a report on Friday, March 11th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $431.38.

EPAM Systems Profile (Get Rating)

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, and maintenance with private, public, and mobile infrastructures for application, database, network, server, storage, and systems operations management, as well as monitoring, incident notification, and resolution services; and maintenance and support services.

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Institutional Ownership by Quarter for EPAM Systems (NYSE:EPAM)

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