JPMorgan Chase & Co. Reduces Holdings in EPAM Systems, Inc. (NYSE:EPAM)

JPMorgan Chase & Co. reduced its position in EPAM Systems, Inc. (NYSE:EPAM) by 10.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,059,478 shares of the information technology services provider’s stock after selling 130,213 shares during the period. JPMorgan Chase & Co. owned 1.87% of EPAM Systems worth $210,868,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of EPAM Systems by 131.5% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 6,459 shares of the information technology services provider’s stock valued at $1,215,000 after acquiring an additional 3,669 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in EPAM Systems by 1.1% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,788 shares of the information technology services provider’s stock worth $1,089,000 after purchasing an additional 63 shares during the last quarter. TD Asset Management Inc grew its position in EPAM Systems by 80.0% during the 2nd quarter. TD Asset Management Inc now owns 595,486 shares of the information technology services provider’s stock worth $112,017,000 after purchasing an additional 264,570 shares during the last quarter. National Bank of Canada FI raised its holdings in shares of EPAM Systems by 24.7% in the second quarter. National Bank of Canada FI now owns 15,993 shares of the information technology services provider’s stock valued at $2,968,000 after buying an additional 3,166 shares during the last quarter. Finally, VELA Investment Management LLC acquired a new stake in shares of EPAM Systems during the second quarter worth about $276,000. 91.58% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Jason D. Peterson sold 1,000 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $237.00, for a total value of $237,000.00. Following the completion of the transaction, the chief financial officer now directly owns 24,836 shares of the company’s stock, valued at $5,886,132. The trade was a 3.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Viktar Dvorkin sold 6,758 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $256.53, for a total value of $1,733,629.74. Following the sale, the senior vice president now directly owns 13,000 shares in the company, valued at approximately $3,334,890. The trade was a 34.20 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,222 shares of company stock worth $2,089,878. Insiders own 4.30% of the company’s stock.

EPAM Systems Trading Down 1.6 %

NYSE:EPAM opened at $234.68 on Tuesday. The company has a market capitalization of $13.31 billion, a PE ratio of 30.48, a price-to-earnings-growth ratio of 3.87 and a beta of 1.49. EPAM Systems, Inc. has a 52-week low of $169.43 and a 52-week high of $317.50. The stock has a fifty day simple moving average of $230.09 and a 200-day simple moving average of $208.63. The company has a quick ratio of 4.56, a current ratio of 4.56 and a debt-to-equity ratio of 0.01.

Wall Street Analyst Weigh In

EPAM has been the topic of several recent research reports. Needham & Company LLC boosted their price target on EPAM Systems from $215.00 to $265.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Jefferies Financial Group boosted their target price on EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 9th. Scotiabank upgraded shares of EPAM Systems from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the company from $245.00 to $275.00 in a research report on Monday, November 11th. Mizuho upped their price objective on shares of EPAM Systems from $245.00 to $282.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Citigroup raised their target price on shares of EPAM Systems from $207.00 to $210.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $272.20.

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.