New York State Teachers Retirement System Lowers Stock Holdings in EPAM Systems, Inc. (NYSE:EPAM)

New York State Teachers Retirement System reduced its stake in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 6.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,867 shares of the information technology services provider's stock after selling 3,500 shares during the period. New York State Teachers Retirement System owned 0.09% of EPAM Systems worth $8,588,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. EverSource Wealth Advisors LLC lifted its holdings in EPAM Systems by 90.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider's stock valued at $27,000 after acquiring an additional 54 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in EPAM Systems by 2,500.0% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 130 shares of the information technology services provider's stock valued at $30,000 after acquiring an additional 125 shares during the last quarter. Sentry Investment Management LLC acquired a new position in EPAM Systems in the first quarter valued at approximately $33,000. TD Private Client Wealth LLC lifted its holdings in EPAM Systems by 88.5% in the fourth 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 last quarter. Finally, CX Institutional acquired a new position in EPAM Systems in the first quarter valued at approximately $42,000. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Susquehanna cut their target price on 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 boosted their target price on EPAM Systems from $210.00 to $215.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Needham & Company LLC boosted their target price on EPAM Systems from $185.00 to $215.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Wall Street Zen lowered EPAM Systems from a "buy" rating to a "hold" rating in a research report on Saturday, April 12th. Finally, Morgan Stanley cut their target price on EPAM Systems from $250.00 to $210.00 and set an "equal weight" rating on the stock in a research report on Friday, May 9th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $233.93.

EPAM Systems Price Performance

EPAM Systems stock traded down $2.75 during mid-day trading on Monday, reaching $180.08. The company had a trading volume of 483,661 shares, compared to its average volume of 685,508. EPAM Systems, Inc. has a 1 year low of $138.15 and a 1 year high of $269.00. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.06 and a quick ratio of 3.06. The company has a market capitalization of $10.20 billion, a P/E ratio of 25.19, a P/E/G ratio of 2.44 and a beta of 1.70. The stock's 50-day simple moving average is $174.24 and its 200-day simple moving average is $195.30.

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 (EPS) for the quarter, beating 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 company had revenue of $1.30 billion during the quarter, compared to analysts' expectations of $1.28 billion. During the same period last year, the company posted $2.46 earnings per share. The firm's quarterly revenue was up 11.7% compared to the same quarter last year. On average, equities analysts predict that EPAM Systems, Inc. will post 8.9 EPS 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.