Handelsbanken Fonder AB Decreases Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Handelsbanken Fonder AB lessened its holdings in EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 31.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,174 shares of the information technology services provider's stock after selling 3,310 shares during the quarter. Handelsbanken Fonder AB's holdings in EPAM Systems were worth $2,133,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. abrdn plc lifted its position in shares of EPAM Systems by 70.8% in the fourth quarter. abrdn plc now owns 27,855 shares of the information technology services provider's stock worth $8,282,000 after purchasing an additional 11,549 shares in the last quarter. Calamos Advisors LLC acquired a new position in EPAM Systems during the fourth quarter worth $1,338,000. Federated Hermes Inc. increased its holdings in EPAM Systems by 1,451.0% during the fourth quarter. Federated Hermes Inc. now owns 5,692 shares of the information technology services provider's stock worth $1,692,000 after buying an additional 5,325 shares during the last quarter. Flossbach Von Storch AG increased its holdings in EPAM Systems by 46.7% during the fourth quarter. Flossbach Von Storch AG now owns 11,000 shares of the information technology services provider's stock worth $3,271,000 after buying an additional 3,500 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in EPAM Systems by 7.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 5,309 shares of the information technology services provider's stock worth $1,579,000 after buying an additional 378 shares during the last quarter. Institutional investors own 91.58% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on EPAM. Needham & Company LLC boosted their target price on shares of EPAM Systems from $295.00 to $350.00 and gave the stock a "buy" rating in a report on Thursday, February 15th. Barclays lowered their target price on shares of EPAM Systems from $315.00 to $265.00 and set an "equal weight" rating on the stock in a report on Friday. Wedbush restated an "outperform" rating and set a $340.00 target price on shares of EPAM Systems in a report on Wednesday, April 10th. Scotiabank upgraded shares of EPAM Systems from a "sector perform" rating to a "sector outperform" rating and boosted their target price for the stock from $265.00 to $350.00 in a report on Friday, February 16th. Finally, HSBC lowered their target price on shares of EPAM Systems from $350.00 to $345.00 and set a "buy" rating on the stock in a report on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $323.93.

EPAM Systems Price Performance

EPAM traded up $0.62 on Friday, hitting $237.75. 553,465 shares of the stock were exchanged, compared to its average volume of 418,045. EPAM Systems, Inc. has a 12 month low of $197.99 and a 12 month high of $317.50. The business has a 50-day moving average of $280.94 and a two-hundred day moving average of $273.37. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.79 and a quick ratio of 4.79. The firm has a market capitalization of $13.79 billion, a price-to-earnings ratio of 33.63, a PEG ratio of 10.35 and a beta of 1.43.

EPAM Systems (NYSE:EPAM - Get Free Report) last posted its quarterly earnings data on Thursday, February 15th. The information technology services provider reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.51 by $0.24. EPAM Systems had a net margin of 8.89% and a return on equity of 15.53%. The business had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.14 billion. During the same quarter in the prior year, the business posted $2.71 earnings per share. EPAM Systems's revenue was down 6.0% compared to the same quarter last year. Sell-side analysts forecast that EPAM Systems, Inc. will post 7.72 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Sergey Yezhkov sold 8,000 shares of the company's stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $302.04, for a total transaction of $2,416,320.00. Following the completion of the sale, the senior vice president now owns 12,770 shares of the company's stock, valued at $3,857,050.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Sergey Yezhkov sold 8,000 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $302.04, for a total value of $2,416,320.00. Following the completion of the transaction, the senior vice president now owns 12,770 shares of the company's stock, valued at $3,857,050.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Balazs Fejes sold 3,470 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $301.93, for a total transaction of $1,047,697.10. Following the completion of the transaction, the executive vice president now directly owns 13,334 shares of the company's stock, valued at approximately $4,025,934.62. The disclosure for this sale can be found here. Insiders sold 16,820 shares of company stock valued at $5,101,117 over the last quarter. 4.30% of the stock is owned by company insiders.

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.