CIBC Private Wealth Group LLC Trims Stock Position in EPAM Systems, Inc. (NYSE:EPAM)

CIBC Private Wealth Group LLC lessened its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 14.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,865 shares of the information technology services provider’s stock after selling 469 shares during the period. CIBC Private Wealth Group LLC’s holdings in EPAM Systems were worth $655,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Public Sector Pension Investment Board raised its holdings in shares of EPAM Systems by 4.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 2,326 shares of the information technology services provider’s stock valued at $463,000 after acquiring an additional 100 shares in the last quarter. Captrust Financial Advisors raised its position in shares of EPAM Systems by 70.5% during the 3rd quarter. Captrust Financial Advisors now owns 6,677 shares of the information technology services provider’s stock valued at $1,329,000 after buying an additional 2,760 shares in the last quarter. HighTower Advisors LLC increased its stake in EPAM Systems by 10.5% in the third quarter. HighTower Advisors LLC now owns 18,458 shares of the information technology services provider’s stock valued at $3,684,000 after acquiring an additional 1,753 shares during the last quarter. Janus Henderson Group PLC raised its position in EPAM Systems by 1.3% during the third quarter. Janus Henderson Group PLC now owns 6,711 shares of the information technology services provider’s stock valued at $1,337,000 after purchasing an additional 85 shares in the last quarter. Finally, Investment Management Corp of Ontario lifted its stake in EPAM Systems by 46.6% during the third quarter. Investment Management Corp of Ontario now owns 1,888 shares of the information technology services provider’s stock worth $376,000 after purchasing an additional 600 shares during the last quarter. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Jason D. Peterson sold 1,078 shares of EPAM Systems stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $257.00, for a total transaction of $277,046.00. Following the completion of the transaction, the chief financial officer now directly owns 23,382 shares of the company’s stock, valued at $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 is available at this hyperlink. 4.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on EPAM. Barclays reduced their price objective 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. Needham & Company LLC reiterated a “buy” rating and set a $265.00 price target on shares of EPAM Systems in a research report on Thursday, February 20th. Jefferies Financial Group lowered their price objective 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. 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. Finally, Morgan Stanley boosted their target price 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. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $257.31.

EPAM Systems Stock Down 7.0 %

Shares of EPAM Systems stock opened at $144.73 on Friday. The company has a current ratio of 2.96, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01. EPAM Systems, Inc. has a 12-month low of $144.00 and a 12-month high of $275.49. The company has a market cap of $8.23 billion, a P/E ratio of 18.46, a PEG ratio of 3.38 and a beta of 1.61. The company’s fifty day simple moving average is $213.08 and its two-hundred day simple moving average is $219.04.

EPAM Systems (NYSE:EPAM) last released its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $2.23 earnings per share (EPS) 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 company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.21 billion. Research analysts anticipate that EPAM Systems, Inc. will post 8.9 EPS for the current year.

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.