Channing Capital Management LLC Sells 5,806 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Channing Capital Management LLC reduced its position in EPAM Systems, Inc. (NYSE:EPAM) by 16.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,235 shares of the information technology services provider’s stock after selling 5,806 shares during the quarter. Channing Capital Management LLC’s holdings in EPAM Systems were worth $7,070,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of EPAM. Manning & Napier Advisors LLC lifted its holdings 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 valued at $155,323,000 after buying an additional 217,960 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of EPAM Systems by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 522,144 shares of the information technology services provider’s stock valued at $122,088,000 after purchasing an additional 6,793 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of 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 purchasing an additional 361,363 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in EPAM Systems by 10.8% during 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 period. Finally, Jacobs Levy Equity Management Inc. increased its holdings 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. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on EPAM shares. StockNews.com cut EPAM Systems from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Needham & Company LLC reissued a “buy” rating and set a $265.00 target price on shares of EPAM Systems in a research note on Thursday, February 20th. The Goldman Sachs Group raised shares of EPAM Systems from a “neutral” rating to a “buy” rating and lifted their price target for the company from $235.00 to $295.00 in a research note on Friday, December 6th. Morgan Stanley increased their price objective on shares of EPAM Systems from $230.00 to $256.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Finally, Scotiabank decreased their target price on EPAM Systems from $275.00 to $250.00 and set a “sector outperform” rating for the company in a research report on Monday, February 24th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, EPAM Systems presently has an average rating of “Moderate Buy” and an average price target of $267.33.

EPAM Systems Stock Performance

Shares of EPAM Systems stock opened at $190.50 on Tuesday. The firm has a market capitalization of $10.84 billion, a P/E ratio of 24.30, a price-to-earnings-growth ratio of 3.38 and a beta of 1.61. The company has a current ratio of 2.96, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01. The business’s fifty day simple moving average is $235.66 and its 200 day simple moving average is $222.89. EPAM Systems, Inc. has a 12 month low of $169.43 and a 12 month high of $309.48.

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

Insider Buying and Selling at EPAM Systems

In other EPAM Systems news, CFO Jason D. Peterson sold 1,078 shares of the business’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $257.00, for a total transaction of $277,046.00. Following the sale, the chief financial officer now owns 23,382 shares of the company’s stock, valued at $6,009,174. The trade was a 4.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Viktar Dvorkin sold 6,758 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $256.53, for a total value of $1,733,629.74. Following the completion of the transaction, the senior vice president now directly owns 13,000 shares of the company’s stock, valued at $3,334,890. The trade was a 34.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,300 shares of company stock worth $2,129,924 over the last ninety days. 4.30% of the stock is currently owned by company insiders.

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.