HighTower Advisors LLC Cuts Stake in EPAM Systems, Inc. (NYSE:EPAM)

HighTower Advisors LLC lessened its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 15.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 15,555 shares of the information technology services provider’s stock after selling 2,903 shares during the quarter. HighTower Advisors LLC’s holdings in EPAM Systems were worth $3,637,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in EPAM. Versant Capital Management Inc purchased a new position in EPAM Systems during the 4th quarter valued at approximately $35,000. Manchester Capital Management LLC grew its holdings in EPAM Systems by 590.0% during the 4th quarter. Manchester Capital Management LLC now owns 207 shares of the information technology services provider’s stock valued at $48,000 after buying an additional 177 shares in the last quarter. Continuum Advisory LLC grew its holdings in EPAM Systems by 5,240.0% during the 3rd quarter. Continuum Advisory LLC now owns 267 shares of the information technology services provider’s stock valued at $53,000 after buying an additional 262 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in EPAM Systems by 21.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 325 shares of the information technology services provider’s stock valued at $65,000 after buying an additional 57 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in EPAM Systems during the 3rd quarter valued at approximately $108,000. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Insider Activity

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $265.00 price objective on shares of EPAM Systems in a research note on Thursday, February 20th. Barclays lowered their price objective on EPAM Systems from $290.00 to $270.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Morgan Stanley raised their price objective on EPAM Systems from $230.00 to $256.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. StockNews.com lowered EPAM Systems from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Finally, Scotiabank lowered their price objective on EPAM Systems from $275.00 to $250.00 and set a “sector outperform” rating for the company in a research note on Monday, February 24th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $262.47.

EPAM Systems Trading Down 4.8 %

Shares of NYSE EPAM opened at $172.26 on Friday. 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 business has a fifty day simple moving average of $227.19 and a two-hundred day simple moving average of $221.62. The firm has a market cap of $9.80 billion, a PE ratio of 21.97, a price-to-earnings-growth ratio of 3.38 and a beta of 1.61. EPAM Systems, Inc. has a twelve month low of $169.43 and a twelve month high of $288.13.

EPAM Systems (NYSE:EPAM) last issued 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). The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.21 billion. EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. Analysts expect that EPAM Systems, Inc. will post 8.9 earnings per share for the current fiscal year.

EPAM Systems 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.