Bristlecone Advisors LLC Purchases 2,690 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Bristlecone Advisors LLC increased its holdings in EPAM Systems, Inc. (NYSE:EPAM) by 75.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,247 shares of the information technology services provider’s stock after purchasing an additional 2,690 shares during the quarter. Bristlecone Advisors LLC’s holdings in EPAM Systems were worth $1,461,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Manning & Napier Advisors LLC lifted its stake in shares of EPAM Systems by 48.8% in the 4th quarter. Manning & Napier Advisors LLC now owns 664,286 shares of the information technology services provider’s stock valued at $155,323,000 after purchasing an additional 217,960 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of EPAM Systems by 45.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 515,351 shares of the information technology services provider’s stock valued at $102,570,000 after purchasing an additional 160,989 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in EPAM Systems by 643.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 417,526 shares of the information technology services provider’s stock valued at $83,100,000 after acquiring an additional 361,363 shares during the period. Assenagon Asset Management S.A. boosted its holdings 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 during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of 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 acquiring an additional 8,959 shares during the period. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Insider Activity

In related news, CFO Jason D. Peterson sold 464 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $257.00, for a total transaction of $119,248.00. Following the sale, the chief financial officer now directly owns 24,372 shares of the company’s stock, valued at approximately $6,263,604. This represents a 1.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Viktar Dvorkin sold 6,758 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now owns 13,000 shares in the company, valued at $3,334,890. This trade represents a 34.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,300 shares of company stock valued at $2,129,924 in the last ninety days. Insiders own 4.30% of the company’s stock.

EPAM Systems Trading Down 1.4 %

Shares of NYSE:EPAM opened at $260.58 on Monday. The business has a 50-day moving average price of $241.88 and a 200-day moving average price of $219.31. The stock has a market cap of $14.78 billion, a price-to-earnings ratio of 33.84, a PEG ratio of 3.96 and a beta of 1.51. EPAM Systems, Inc. has a 52-week low of $169.43 and a 52-week high of $317.50. The company has a quick ratio of 4.56, a current ratio of 4.56 and a debt-to-equity ratio of 0.01.

Analyst Ratings Changes

Several research analysts have weighed in on EPAM shares. The Goldman Sachs Group upgraded shares of EPAM Systems from a “neutral” rating to a “buy” rating and increased their price target for the stock from $235.00 to $295.00 in a research report on Friday, December 6th. Piper Sandler increased their price objective on shares of EPAM Systems from $225.00 to $258.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Citigroup boosted their target price on shares of EPAM Systems from $207.00 to $210.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Jefferies Financial Group lowered their target price on shares of EPAM Systems from $305.00 to $288.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. Finally, Scotiabank raised shares of EPAM Systems from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $245.00 to $275.00 in a research note on Monday, November 11th. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, EPAM Systems has a consensus rating of “Moderate Buy” and an average target price of $271.47.

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.