Brighton Jones LLC Reduces Stock Position in EPAM Systems, Inc. (NYSE:EPAM)

Brighton Jones LLC trimmed its position in EPAM Systems, Inc. (NYSE:EPAM) by 64.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 920 shares of the information technology services provider’s stock after selling 1,703 shares during the period. Brighton Jones LLC’s holdings in EPAM Systems were worth $274,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. VisionPoint Advisory Group LLC boosted its holdings in shares of EPAM Systems by 103.0% during the third quarter. VisionPoint Advisory Group LLC now owns 136 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 69 shares during the last quarter. Lindbrook Capital LLC boosted its stake in EPAM Systems by 123.3% in the 3rd quarter. Lindbrook Capital LLC now owns 163 shares of the information technology services provider’s stock worth $42,000 after buying an additional 90 shares during the last quarter. NBC Securities Inc. purchased a new stake in EPAM Systems in the 3rd quarter valued at about $46,000. Exchange Traded Concepts LLC increased its stake in shares of EPAM Systems by 46.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 214 shares of the information technology services provider’s stock valued at $55,000 after acquiring an additional 68 shares during the last quarter. Finally, Emerald Advisers LLC purchased a new position in shares of EPAM Systems during the 3rd quarter worth about $113,000. 91.58% of the stock is owned by institutional investors and hedge funds.

EPAM Systems Stock Performance

Shares of EPAM stock opened at $242.12 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.79 and a quick ratio of 4.79. The company’s fifty day moving average price is $274.43 and its two-hundred day moving average price is $273.18. The firm has a market capitalization of $14.04 billion, a P/E ratio of 34.25, a P/E/G ratio of 10.40 and a beta of 1.46. EPAM Systems, Inc. has a 12 month low of $197.99 and a 12 month high of $317.50.

EPAM Systems (NYSE:EPAM) last released its quarterly earnings results on Thursday, February 15th. The information technology services provider reported $2.75 EPS for the quarter, topping the consensus estimate of $2.51 by $0.24. EPAM Systems had a return on equity of 15.53% and a net margin of 8.89%. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the firm posted $2.71 earnings per share. The company’s revenue was down 6.0% compared to the same quarter last year. On average, research analysts anticipate that EPAM Systems, Inc. will post 7.71 earnings per share for the current fiscal year.

Insider Activity

In other EPAM Systems news, SVP Lawrence F. Solomon sold 5,350 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $306.00, for a total transaction of $1,637,100.00. Following the transaction, the senior vice president now directly owns 12,117 shares in the company, valued at approximately $3,707,802. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other EPAM Systems news, SVP Lawrence F. Solomon sold 5,350 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $306.00, for a total transaction of $1,637,100.00. Following the sale, the senior vice president now owns 12,117 shares in the company, valued at $3,707,802. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Balazs Fejes sold 3,470 shares of EPAM Systems stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $301.93, for a total value of $1,047,697.10. Following the completion of the transaction, the executive vice president now owns 13,334 shares of the company’s stock, valued at approximately $4,025,934.62. The disclosure for this sale can be found here. In the last three months, insiders sold 16,820 shares of company stock worth $5,101,117. 4.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently commented on EPAM. Morgan Stanley raised shares of EPAM Systems from an “underweight” rating to an “equal weight” rating and dropped their price target for the stock from $236.00 to $225.00 in a research report on Friday, April 26th. JPMorgan Chase & Co. cut their target price on EPAM Systems from $331.00 to $311.00 and set an “overweight” rating on the stock in a research report on Thursday. Piper Sandler lowered their price target on EPAM Systems from $369.00 to $317.00 and set an “overweight” rating for the company in a research report on Thursday. Citigroup dropped their price target on EPAM Systems from $325.00 to $275.00 and set a “neutral” rating for the company in a research note on Monday, April 22nd. Finally, Guggenheim initiated coverage on EPAM Systems in a report on Tuesday, March 19th. They set a “buy” rating and a $350.00 target price for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $315.60.

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.