Man Group plc Trims Stock Position in EPAM Systems, Inc. (NYSE:EPAM)

Man Group plc decreased its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 77.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,691 shares of the information technology services provider's stock after selling 61,586 shares during the period. Man Group plc's holdings in EPAM Systems were worth $4,137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Capital World Investors raised its position 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 acquiring an additional 414,942 shares during the period. Ameriprise Financial Inc. increased 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 worth $510,053,000 after purchasing an additional 620,551 shares in the last quarter. Geode Capital Management LLC raised its position in shares of EPAM Systems by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 1,349,088 shares of the information technology services provider's stock worth $314,616,000 after purchasing an additional 37,119 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in EPAM Systems by 96.1% in 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 in the last quarter. Finally, Marshall Wace LLP increased its stake in EPAM Systems by 126.4% during the 4th quarter. Marshall Wace LLP now owns 769,584 shares of the information technology services provider's stock worth $179,944,000 after buying an additional 429,644 shares in the last quarter. Hedge funds and other institutional investors own 91.58% of the company's stock.

EPAM Systems Price Performance

Shares of NYSE:EPAM traded up $0.72 on Tuesday, hitting $176.67. The company had a trading volume of 1,082,476 shares, compared to its average volume of 684,550. 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 52-week low of $138.15 and a 52-week high of $269.00. The business has a 50 day moving average of $164.54 and a 200 day moving average of $209.68. The company has a market cap of $10.01 billion, a PE ratio of 22.53, a PEG ratio of 3.38 and a beta of 1.71.

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on EPAM shares. Needham & Company LLC increased their price objective on EPAM Systems from $185.00 to $215.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Barclays increased their price target on EPAM Systems from $200.00 to $215.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. Scotiabank lowered their target price on EPAM Systems from $250.00 to $200.00 and set a "sector outperform" rating for the company in a report on Tuesday, April 29th. Morgan Stanley lowered their target price on EPAM Systems from $250.00 to $210.00 and set an "equal weight" rating for the company in a report on Friday, May 9th. Finally, Stifel Nicolaus cut their target price on EPAM Systems from $275.00 to $240.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $233.93.

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.