Wallace Advisory Group LLC Buys Shares of 2,469 EPAM Systems, Inc. (NYSE:EPAM)

Wallace Advisory Group LLC bought a new stake in EPAM Systems, Inc. (NYSE:EPAM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,469 shares of the information technology services provider’s stock, valued at approximately $577,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EPAM. Geneva Capital Management LLC grew its stake in shares of EPAM Systems by 6.0% in the third quarter. Geneva Capital Management LLC now owns 71,281 shares of the information technology services provider’s stock valued at $14,187,000 after buying an additional 4,027 shares in the last quarter. Centre Asset Management LLC acquired a new stake in shares of EPAM Systems in the fourth quarter valued at $8,757,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of EPAM Systems in the third quarter valued at $8,195,000. Victory Capital Management Inc. grew its stake in shares of EPAM Systems by 247.6% in the third quarter. Victory Capital Management Inc. now owns 72,447 shares of the information technology services provider’s stock valued at $14,419,000 after buying an additional 51,603 shares in the last quarter. Finally, Raymond James & Associates grew its stake in shares of EPAM Systems by 1,741.1% in the third quarter. Raymond James & Associates now owns 36,694 shares of the information technology services provider’s stock valued at $7,303,000 after buying an additional 34,701 shares in the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

EPAM Systems Stock Up 0.1 %

EPAM Systems stock opened at $225.89 on Tuesday. EPAM Systems, Inc. has a fifty-two week low of $169.43 and a fifty-two week high of $317.50. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 4.56. The company has a market capitalization of $12.81 billion, a P/E ratio of 29.34, a PEG ratio of 3.74 and a beta of 1.50. The stock has a 50-day simple moving average of $237.68 and a 200-day simple moving average of $212.30.

Analysts Set New Price Targets

Several research firms recently commented on EPAM. Susquehanna boosted their target price on EPAM Systems from $240.00 to $270.00 and gave the stock a “positive” rating in a research note on Friday, November 8th. Mizuho boosted their target price on EPAM Systems from $245.00 to $282.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Citigroup boosted their target price on EPAM Systems from $207.00 to $210.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Itau BBA Securities raised EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 target price for the company in a research note on Friday, November 8th. Finally, Barclays raised EPAM Systems from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $250.00 to $290.00 in a research note on Tuesday, December 17th. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $267.84.

Insider Activity

In other EPAM Systems news, SVP Viktar Dvorkin sold 6,758 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $256.53, for a total transaction of $1,733,629.74. Following the completion of the sale, the senior vice president now directly owns 13,000 shares of the company’s stock, valued at $3,334,890. This represents a 34.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jason D. Peterson sold 464 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $257.00, for a total value of $119,248.00. Following the sale, the chief financial officer now directly owns 24,372 shares of the company’s stock, valued at approximately $6,263,604. This represents a 1.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 8,222 shares of company stock valued at $2,089,878. Insiders own 4.30% of the company’s stock.

EPAM Systems Company 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.