M&T Bank Corp Sells 10,068 Shares of EPAM Systems, Inc. (NYSE:EPAM)

M&T Bank Corp lowered its position in EPAM Systems, Inc. (NYSE:EPAM) by 76.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,149 shares of the information technology services provider’s stock after selling 10,068 shares during the quarter. M&T Bank Corp’s holdings in EPAM Systems were worth $736,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Manning & Napier Advisors LLC grew its stake in EPAM Systems by 48.8% in the fourth quarter. Manning & Napier Advisors LLC now owns 664,286 shares of the information technology services provider’s stock worth $155,323,000 after purchasing an additional 217,960 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in EPAM Systems by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 522,144 shares of the information technology services provider’s stock worth $122,088,000 after purchasing an additional 6,793 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in EPAM Systems by 643.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 417,526 shares of the information technology services provider’s stock worth $83,100,000 after purchasing an additional 361,363 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in EPAM Systems by 10.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 346,201 shares of the information technology services provider’s stock worth $80,949,000 after purchasing an additional 33,715 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in EPAM Systems by 3.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 308,498 shares of the information technology services provider’s stock worth $61,400,000 after purchasing an additional 8,959 shares in the last quarter. Institutional investors own 91.58% of the company’s stock.

EPAM Systems Price Performance

NYSE:EPAM opened at $189.32 on Thursday. EPAM Systems, Inc. has a 52 week low of $169.43 and a 52 week high of $308.99. The company has a quick ratio of 4.56, a current ratio of 2.96 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $10.77 billion, a PE ratio of 24.15, a price-to-earnings-growth ratio of 3.38 and a beta of 1.61. The stock’s 50-day moving average price is $233.93 and its 200-day moving average price is $222.80.

EPAM Systems (NYSE:EPAM) last posted its earnings results on Thursday, February 20th. The information technology services provider reported $2.23 EPS for the quarter, missing analysts’ consensus estimates of $2.75 by ($0.52). EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.21 billion. As a group, equities analysts expect that EPAM Systems, Inc. will post 8.9 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Jason D. Peterson sold 1,078 shares of EPAM Systems stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $257.00, for a total value of $277,046.00. Following the sale, the chief financial officer now directly owns 23,382 shares in the company, valued at approximately $6,009,174. The trade was a 4.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 4.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Jefferies Financial Group dropped their price objective on EPAM Systems from $305.00 to $288.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. Scotiabank dropped their target price on EPAM Systems from $275.00 to $250.00 and set a “sector outperform” rating on the stock in a research report on Monday, February 24th. StockNews.com cut EPAM Systems from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Barclays dropped their target price on EPAM Systems from $290.00 to $270.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Morgan Stanley increased their target price on EPAM Systems from $230.00 to $256.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $267.33.

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.