Cresset Asset Management LLC Sells 4,240 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Cresset Asset Management LLC trimmed its holdings in EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 73.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,504 shares of the information technology services provider's stock after selling 4,240 shares during the period. Cresset Asset Management LLC's holdings in EPAM Systems were worth $352,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its holdings in shares of EPAM Systems by 90.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider's stock worth $27,000 after purchasing an additional 54 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in EPAM Systems by 2,500.0% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 130 shares of the information technology services provider's stock worth $30,000 after purchasing an additional 125 shares during the last quarter. TD Private Client Wealth LLC increased its position in EPAM Systems by 88.5% in the 4th quarter. TD Private Client Wealth LLC now owns 147 shares of the information technology services provider's stock valued at $34,000 after acquiring an additional 69 shares during the period. Manchester Capital Management LLC increased its holdings in shares of EPAM Systems by 590.0% during the fourth quarter. Manchester Capital Management LLC now owns 207 shares of the information technology services provider's stock valued at $48,000 after purchasing an additional 177 shares during the period. Finally, Physician Wealth Advisors Inc. bought a new position in shares of EPAM Systems in the fourth quarter valued at approximately $49,000. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

EPAM Systems Price Performance

Shares of NYSE:EPAM traded down $1.41 during midday trading on Thursday, reaching $182.19. The company's stock had a trading volume of 185,347 shares, compared to its average volume of 681,660. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.96 and a quick ratio of 4.56. The company has a market capitalization of $10.32 billion, a P/E ratio of 23.15, a P/E/G ratio of 3.38 and a beta of 1.71. EPAM Systems, Inc. has a fifty-two week low of $138.15 and a fifty-two week high of $269.00. The business's fifty day simple moving average is $164.81 and its 200-day simple moving average is $210.59.

EPAM Systems (NYSE:EPAM - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The information technology services provider reported $2.41 EPS for the quarter, beating the consensus estimate of $2.27 by $0.14. EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. The business had revenue of $1.30 billion for the quarter, compared to analysts' expectations of $1.28 billion. During the same period in the prior year, the firm earned $2.46 earnings per share. EPAM Systems's revenue was up 11.7% compared to the same quarter last year. As a group, equities research analysts expect that EPAM Systems, Inc. will post 8.9 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on EPAM shares. Susquehanna dropped their price target on shares of EPAM Systems from $270.00 to $210.00 and set a "positive" rating on the stock in a research report on Wednesday, April 23rd. Guggenheim upped their price target on EPAM Systems from $210.00 to $215.00 and gave the company a "buy" rating in a report on Friday, May 9th. Wall Street Zen lowered EPAM Systems from a "buy" rating to a "hold" rating in a research note on Saturday, April 12th. Needham & Company LLC boosted their target price on EPAM Systems from $185.00 to $215.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Finally, Stifel Nicolaus lowered their price objective on shares of EPAM Systems from $275.00 to $240.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, EPAM Systems has an average rating of "Moderate Buy" and a consensus target price of $231.50.

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.