EPAM Systems, Inc. (NYSE:EPAM) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in shares of EPAM Systems, Inc. (NYSE:EPAM – Get Rating) by 0.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 431,425 shares of the information technology services provider’s stock after selling 1,391 shares during the quarter. Bank of New York Mellon Corp’s holdings in EPAM Systems were worth $156,259,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. CI Investments Inc. grew its position in shares of EPAM Systems by 900.0% during the third quarter. CI Investments Inc. now owns 70 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 63 shares during the last quarter. Semmax Financial Advisors Inc. grew its position in shares of EPAM Systems by 84.3% during the third quarter. Semmax Financial Advisors Inc. now owns 94 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 43 shares during the last quarter. Parkside Financial Bank & Trust grew its position in shares of EPAM Systems by 78.2% during the third quarter. Parkside Financial Bank & Trust now owns 98 shares of the information technology services provider’s stock worth $35,000 after acquiring an additional 43 shares during the last quarter. Covestor Ltd grew its position in shares of EPAM Systems by 134.4% during the first quarter. Covestor Ltd now owns 150 shares of the information technology services provider’s stock worth $45,000 after acquiring an additional 86 shares during the last quarter. Finally, Dupont Capital Management Corp purchased a new position in shares of EPAM Systems during the third quarter worth approximately $58,000. Institutional investors and hedge funds own 92.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of EPAM Systems from $365.00 to $405.00 in a research report on Thursday, December 15th. Needham & Company LLC raised their target price on shares of EPAM Systems from $400.00 to $415.00 and gave the stock a “buy” rating in a research report on Friday, February 17th. Wolfe Research lowered shares of EPAM Systems from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 5th. Cowen lowered shares of EPAM Systems from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $390.00 to $370.00 in a research report on Friday, February 17th. Finally, Barclays lowered their price objective on shares of EPAM Systems from $400.00 to $380.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 21st. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, EPAM Systems has an average rating of “Moderate Buy” and an average price target of $402.14.

EPAM Systems Price Performance

Shares of NYSE EPAM opened at $279.79 on Friday. The firm has a market capitalization of $16.14 billion, a P/E ratio of 39.52, a PEG ratio of 1.84 and a beta of 1.57. EPAM Systems, Inc. has a one year low of $260.11 and a one year high of $462.99. The company’s fifty day moving average is $330.44 and its two-hundred day moving average is $346.04. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.69 and a current ratio of 3.69.

About EPAM Systems

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EPAM Systems, Inc engages in the provision of software product development and digital platform engineering services. It operates through the following geographical segments: North America, Europe, and Russia. The company was founded by Leonid Lozner and Arkadiy Dobkin in 1993 and is headquartered in Newtown, PA.