Cerity Partners LLC Sells 7,726 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Cerity Partners LLC trimmed its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 14.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,626 shares of the information technology services provider's stock after selling 7,726 shares during the period. Cerity Partners LLC owned 0.08% of EPAM Systems worth $8,041,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. Capital World Investors raised its holdings in EPAM Systems by 22.0% during the fourth quarter. Capital World Investors now owns 2,304,243 shares of the information technology services provider's stock worth $538,778,000 after purchasing an additional 414,942 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of EPAM Systems by 39.8% during the fourth quarter. Ameriprise Financial Inc. now owns 2,181,143 shares of the information technology services provider's stock valued at $510,053,000 after purchasing an additional 620,551 shares during the period. Geode Capital Management LLC increased its position in shares of EPAM Systems by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 1,349,088 shares of the information technology services provider's stock worth $314,616,000 after acquiring an additional 37,119 shares during the last quarter. Ninety One UK Ltd bought a new stake in shares of EPAM Systems in the 1st quarter worth about $186,280,000. Finally, Massachusetts Financial Services Co. MA grew its position in shares of EPAM Systems by 96.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 818,881 shares of the information technology services provider's stock valued at $191,471,000 after buying an additional 401,355 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on EPAM. Morgan Stanley lowered their price target on shares of EPAM Systems from $250.00 to $210.00 and set an "equal weight" rating for the company in a research report on Friday, May 9th. Stifel Nicolaus reduced their price objective on shares of EPAM Systems from $275.00 to $240.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Piper Sandler boosted their price objective on shares of EPAM Systems from $170.00 to $194.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Susquehanna cut their price target on EPAM Systems from $270.00 to $210.00 and set a "positive" rating for the company in a report on Wednesday, April 23rd. Finally, Wall Street Zen lowered shares of EPAM Systems from a "buy" rating to a "hold" rating in a research report on Saturday, April 12th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, EPAM Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $231.73.

EPAM Systems Stock Down 0.8%

EPAM Systems stock traded down $1.33 during trading on Thursday, hitting $165.52. 283,691 shares of the company were exchanged, compared to its average volume of 683,092. The business's 50 day moving average is $176.22 and its 200 day moving average is $192.63. EPAM Systems, Inc. has a 52 week low of $138.15 and a 52 week high of $269.00. The company has a market capitalization of $9.38 billion, a P/E ratio of 23.07, a PEG ratio of 2.18 and a beta of 1.70. The company has a current ratio of 3.06, a quick ratio of 3.06 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAM - Get Free Report) last issued its earnings results on Thursday, May 8th. The information technology services provider reported $2.41 earnings per share for the quarter, topping analysts' consensus estimates of $2.27 by $0.14. EPAM Systems had a net margin of 8.47% and a return on equity of 14.15%. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter last year, the business earned $2.46 earnings per share. The company's quarterly revenue was up 11.7% on a year-over-year basis. Analysts predict that EPAM Systems, Inc. will post 8.9 earnings per share for the current 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.