Nuveen Asset Management LLC Sells 171,780 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Nuveen Asset Management LLC reduced its holdings in EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 40.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 252,978 shares of the information technology services provider's stock after selling 171,780 shares during the quarter. Nuveen Asset Management LLC owned about 0.45% of EPAM Systems worth $59,151,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its stake 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 worth $27,000 after acquiring an additional 54 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its holdings 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 in the last quarter. TD Private Client Wealth LLC lifted its position in shares of 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 worth $34,000 after purchasing an additional 69 shares during the period. Manchester Capital Management LLC lifted its position in shares of EPAM Systems by 590.0% in the 4th quarter. Manchester Capital Management LLC now owns 207 shares of the information technology services provider's stock worth $48,000 after purchasing an additional 177 shares during the period. Finally, Physician Wealth Advisors Inc. bought a new stake in shares of EPAM Systems during the 4th quarter valued at about $49,000. 91.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on EPAM shares. Needham & Company LLC increased their price target on shares of EPAM Systems from $185.00 to $215.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Piper Sandler upped their target price on EPAM Systems from $170.00 to $194.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Barclays increased their target price on EPAM Systems from $200.00 to $215.00 and gave the stock an "overweight" rating in a research report on Monday, May 12th. Wall Street Zen lowered EPAM Systems from a "buy" rating to a "hold" rating in a research report on Saturday, April 12th. Finally, Scotiabank reduced their price target on EPAM Systems from $250.00 to $200.00 and set a "sector outperform" rating on the stock in a research note on Tuesday, April 29th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $231.50.

EPAM Systems Stock Down 1.6%

Shares of NYSE EPAM traded down $2.99 during trading on Thursday, reaching $180.61. The company had a trading volume of 809,833 shares, compared to its average volume of 684,036. EPAM Systems, Inc. has a 12-month low of $138.15 and a 12-month high of $269.00. The company has a quick ratio of 4.56, a current ratio of 2.96 and a debt-to-equity ratio of 0.01. The business's 50-day moving average is $164.81 and its 200 day moving average is $210.59. The stock has a market cap of $10.23 billion, a PE ratio of 23.04, a P/E/G ratio of 3.38 and a beta of 1.71.

EPAM Systems (NYSE:EPAM - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.28 billion. EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. EPAM Systems's revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.46 EPS. As a group, equities analysts forecast that EPAM Systems, Inc. will post 8.9 earnings per share for the current fiscal 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.