Choate Investment Advisors Makes New $244,000 Investment in EPAM Systems, Inc. (NYSE:EPAM)

Choate Investment Advisors purchased a new position in shares of EPAM Systems, Inc. (NYSE:EPAM) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,042 shares of the information technology services provider’s stock, valued at approximately $244,000.

Other institutional investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its position in EPAM Systems by 90.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider’s stock worth $27,000 after buying an additional 54 shares during the last quarter. Versant Capital Management Inc acquired a new stake in shares of EPAM Systems during the 4th quarter worth approximately $35,000. Manchester Capital Management LLC grew its stake in shares of 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 worth $48,000 after purchasing an additional 177 shares during the period. Continuum Advisory LLC grew its stake in shares of 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 worth $53,000 after purchasing an additional 262 shares during the period. Finally, First Horizon Advisors Inc. grew its stake in shares of 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 worth $65,000 after purchasing an additional 57 shares during the period. 91.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on EPAM shares. The Goldman Sachs Group raised shares of EPAM Systems from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $235.00 to $295.00 in a research note on Friday, December 6th. Barclays dropped their price objective on shares of EPAM Systems from $290.00 to $270.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. StockNews.com cut shares of EPAM Systems from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Morgan Stanley lifted their price target on shares of EPAM Systems from $230.00 to $256.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $265.00 price target on shares of EPAM Systems in a research note on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, EPAM Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $267.33.

Insider Transactions at EPAM Systems

In related news, CFO Jason D. Peterson sold 1,078 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $257.00, for a total value of $277,046.00. Following the sale, the chief financial officer now directly owns 23,382 shares in the company, valued at approximately $6,009,174. The trade was a 4.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.30% of the company’s stock.

EPAM Systems Trading Up 2.0 %

Shares of EPAM stock opened at $186.34 on Tuesday. EPAM Systems, Inc. has a fifty-two week low of $169.43 and a fifty-two week high of $301.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 2.96. The stock’s fifty day moving average is $230.19 and its two-hundred day moving average is $222.38. The firm has a market capitalization of $10.60 billion, a P/E ratio of 23.77, a PEG ratio of 3.38 and a beta of 1.61.

EPAM Systems (NYSE:EPAM) last posted its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $2.23 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. Research 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.