Cerity Partners LLC Trims Stake in EPAM Systems, Inc. (NYSE:EPAM)

Cerity Partners LLC cut its stake in EPAM Systems, Inc. (NYSE:EPAM) by 8.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 60,280 shares of the information technology services provider’s stock after selling 5,865 shares during the quarter. Cerity Partners LLC owned about 0.10% of EPAM Systems worth $17,720,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Natixis Advisors L.P. increased its holdings in shares of EPAM Systems by 5.1% in the 3rd quarter. Natixis Advisors L.P. now owns 28,200 shares of the information technology services provider’s stock valued at $7,210,000 after acquiring an additional 1,370 shares during the period. Lone Pine Capital LLC increased its holdings in shares of EPAM Systems by 9.2% in the 3rd quarter. Lone Pine Capital LLC now owns 1,054,229 shares of the information technology services provider’s stock valued at $269,556,000 after acquiring an additional 88,641 shares during the period. TD Asset Management Inc increased its holdings in shares of EPAM Systems by 2.5% in the 3rd quarter. TD Asset Management Inc now owns 63,074 shares of the information technology services provider’s stock valued at $16,127,000 after acquiring an additional 1,558 shares during the period. Wellington Management Group LLP purchased a new position in shares of EPAM Systems in the 3rd quarter valued at $13,402,000. Finally, Assenagon Asset Management S.A. increased its holdings in shares of EPAM Systems by 131.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 78,156 shares of the information technology services provider’s stock valued at $23,239,000 after acquiring an additional 44,388 shares during the period. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EPAM has been the subject of a number of recent analyst reports. Scotiabank raised EPAM Systems from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $265.00 to $350.00 in a research report on Friday, February 16th. Stifel Nicolaus raised their price objective on EPAM Systems from $288.00 to $301.00 and gave the stock a “buy” rating in a research report on Monday, February 12th. HSBC lowered their price objective on EPAM Systems from $350.00 to $345.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. Guggenheim initiated coverage on EPAM Systems in a research report on Tuesday, March 19th. They issued a “buy” rating and a $350.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their price objective on EPAM Systems from $315.00 to $334.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, EPAM Systems presently has a consensus rating of “Moderate Buy” and an average price target of $331.33.

Insider Buying and Selling at EPAM Systems

In related news, SVP Lawrence F. Solomon sold 5,350 shares of EPAM Systems stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $306.00, for a total value of $1,637,100.00. Following the completion of the transaction, the senior vice president now owns 12,117 shares in the company, valued at approximately $3,707,802. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, SVP Sergey Yezhkov sold 8,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $302.04, for a total value of $2,416,320.00. Following the completion of the transaction, the senior vice president now owns 12,770 shares of the company’s stock, valued at approximately $3,857,050.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Lawrence F. Solomon sold 5,350 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $306.00, for a total value of $1,637,100.00. Following the completion of the transaction, the senior vice president now directly owns 12,117 shares of the company’s stock, valued at approximately $3,707,802. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,820 shares of company stock worth $5,101,117. Insiders own 3.20% of the company’s stock.

EPAM Systems Stock Performance

NYSE EPAM opened at $259.16 on Friday. The stock has a 50-day simple moving average of $289.53 and a two-hundred day simple moving average of $273.69. The firm has a market capitalization of $14.99 billion, a P/E ratio of 36.66, a PEG ratio of 11.62 and a beta of 1.43. EPAM Systems, Inc. has a fifty-two week low of $197.99 and a fifty-two week high of $317.50. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.79 and a current ratio of 4.79.

EPAM Systems (NYSE:EPAM) last released its quarterly earnings data on Thursday, February 15th. The information technology services provider reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.51 by $0.24. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.14 billion. EPAM Systems had a return on equity of 15.53% and a net margin of 8.89%. The company’s revenue was down 6.0% on a year-over-year basis. During the same quarter last year, the business posted $2.71 EPS. On average, equities analysts forecast that EPAM Systems, Inc. will post 7.72 earnings per share for the current year.

About EPAM Systems

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.