EPAM Systems, Inc. (NYSE:EPAM) Shares Bought by Cibc World Markets Corp

Cibc World Markets Corp raised its holdings in EPAM Systems, Inc. (NYSE:EPAM) by 14.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,938 shares of the information technology services provider’s stock after acquiring an additional 1,111 shares during the period. Cibc World Markets Corp’s holdings in EPAM Systems were worth $2,090,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of EPAM. EverSource Wealth Advisors LLC increased its holdings in shares of EPAM Systems by 90.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider’s stock worth $27,000 after buying an additional 54 shares during the last quarter. Versant Capital Management Inc acquired a new stake in shares of EPAM Systems during the 4th quarter worth approximately $35,000. Manchester Capital Management LLC increased its holdings in shares of EPAM Systems by 590.0% during the 4th quarter. Manchester Capital Management LLC now owns 207 shares of the information technology services provider’s stock worth $48,000 after buying an additional 177 shares during the last quarter. Continuum Advisory LLC increased its holdings in shares of EPAM Systems by 5,240.0% during the 3rd quarter. Continuum Advisory LLC now owns 267 shares of the information technology services provider’s stock worth $53,000 after buying an additional 262 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its holdings in shares of EPAM Systems by 21.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 325 shares of the information technology services provider’s stock worth $65,000 after buying an additional 57 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

Insider Buying and Selling

In related news, CFO Jason D. Peterson sold 1,078 shares of EPAM Systems stock in a transaction on Monday, January 27th. The shares were sold at an average price of $257.00, for a total transaction of $277,046.00. Following the sale, the chief financial officer now directly owns 23,382 shares in the company, valued at $6,009,174. This trade represents a 4.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.30% of the stock is owned by company insiders.

EPAM Systems Price Performance

Shares of EPAM opened at $175.64 on Friday. EPAM Systems, Inc. has a twelve month low of $169.43 and a twelve month high of $283.47. The firm’s fifty day simple moving average is $226.19 and its 200-day simple moving average is $221.45. The firm has a market capitalization of $9.99 billion, a price-to-earnings ratio of 22.40, a PEG ratio of 3.38 and a beta of 1.61. 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 (NYSE:EPAM) last announced its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $2.23 earnings per share for the quarter, missing analysts’ consensus estimates of $2.75 by ($0.52). EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.21 billion. Equities analysts forecast that EPAM Systems, Inc. will post 8.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on EPAM. Scotiabank lowered their price objective on shares of EPAM Systems from $275.00 to $250.00 and set a “sector outperform” rating for the company in a research report on Monday, February 24th. Morgan Stanley increased their price objective on shares of EPAM Systems from $230.00 to $256.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. The Goldman Sachs Group raised shares of EPAM Systems from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $235.00 to $295.00 in a research report on Friday, December 6th. Jefferies Financial Group lowered their price objective on shares of EPAM Systems from $305.00 to $288.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $265.00 price objective on shares of EPAM Systems in a research report on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $262.47.

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.