Victory Capital Management Inc. Sells 55,234 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Victory Capital Management Inc. reduced its holdings in EPAM Systems, Inc. (NYSE:EPAM) by 76.2% in the fourth quarter, HoldingsChannel reports. The firm owned 17,213 shares of the information technology services provider’s stock after selling 55,234 shares during the period. Victory Capital Management Inc.’s holdings in EPAM Systems were worth $4,025,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in EPAM. Centre Asset Management LLC acquired a new stake in EPAM Systems in the fourth quarter valued at approximately $8,757,000. Oliver Luxxe Assets LLC acquired a new stake in EPAM Systems in the fourth quarter valued at approximately $1,889,000. MAI Capital Management grew its stake in EPAM Systems by 10.3% in the third quarter. MAI Capital Management now owns 40,126 shares of the information technology services provider’s stock valued at $7,986,000 after acquiring an additional 3,750 shares during the period. Pathstone Holdings LLC grew its stake in EPAM Systems by 32.6% in the third quarter. Pathstone Holdings LLC now owns 14,249 shares of the information technology services provider’s stock valued at $2,836,000 after acquiring an additional 3,507 shares during the period. Finally, iA Global Asset Management Inc. grew its stake in EPAM Systems by 165.2% in the third quarter. iA Global Asset Management Inc. now owns 3,700 shares of the information technology services provider’s stock valued at $736,000 after acquiring an additional 2,305 shares during the period. 91.58% of the stock is currently owned by institutional investors.

Insider Transactions at EPAM Systems

In related news, CFO Jason D. Peterson sold 1,078 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $257.00, for a total transaction of $277,046.00. Following the completion of the sale, the chief financial officer now directly owns 23,382 shares in the company, valued at $6,009,174. This represents a 4.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 4.30% of the company’s stock.

EPAM Systems Stock Performance

NYSE:EPAM opened at $182.28 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 2.96. EPAM Systems, Inc. has a 52-week low of $169.43 and a 52-week high of $301.60. The firm has a market cap of $10.37 billion, a price-to-earnings ratio of 23.25, a PEG ratio of 3.38 and a beta of 1.61. The business’s fifty day moving average is $231.08 and its 200 day moving average is $222.32.

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

Analyst Upgrades and Downgrades

EPAM has been the subject of a number of research reports. The Goldman Sachs Group raised EPAM Systems from a “neutral” rating to a “buy” rating and raised their price objective for the company from $235.00 to $295.00 in a research note on Friday, December 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $265.00 target price on shares of EPAM Systems in a research report on Thursday, February 20th. Jefferies Financial Group cut their target price on EPAM Systems from $305.00 to $288.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Barclays cut 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, March 10th. Finally, Scotiabank cut 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. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, EPAM Systems has a consensus rating of “Moderate Buy” and an average 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.