Harvest Fund Management Co. Ltd Acquires New Stake in EPAM Systems, Inc. (NYSE:EPAM)

Harvest Fund Management Co. Ltd acquired a new stake in shares of EPAM Systems, Inc. (NYSE:EPAM) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 2,035 shares of the information technology services provider’s stock, valued at approximately $475,000.

Other large investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its holdings in 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 valued at $27,000 after acquiring an additional 54 shares during the period. Versant Capital Management Inc purchased a new stake in shares of EPAM Systems in the 4th quarter worth $35,000. Manchester Capital Management LLC lifted its holdings 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 buying an additional 177 shares during the period. Continuum Advisory LLC lifted its holdings in shares of EPAM Systems by 5,240.0% in 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 period. Finally, First Horizon Advisors Inc. lifted its holdings in shares of EPAM Systems by 21.3% in 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 period. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Scotiabank lowered their target price on EPAM Systems from $275.00 to $250.00 and set a “sector outperform” rating for the company in a report on Monday, February 24th. Jefferies Financial Group decreased their price objective on EPAM Systems from $305.00 to $288.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. The Goldman Sachs Group upgraded EPAM Systems from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $235.00 to $295.00 in a research note on Friday, December 6th. Barclays decreased their price objective on EPAM Systems from $290.00 to $270.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Finally, Needham & Company LLC restated a “buy” rating and set a $265.00 price objective on shares of EPAM Systems in a research note on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $262.47.

Insider Buying and Selling

In related news, CFO Jason D. Peterson sold 1,078 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was 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 of the company’s stock, valued at $6,009,174. This trade represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.30% of the stock is owned by corporate insiders.

EPAM Systems Stock Up 2.0 %

Shares of EPAM stock opened at $175.64 on Friday. The stock’s 50-day simple moving average is $226.19 and its 200-day simple moving average is $221.45. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 2.96. The firm has a market capitalization of $9.99 billion, a PE ratio of 22.40, a P/E/G ratio of 3.38 and a beta of 1.61. EPAM Systems, Inc. has a fifty-two week low of $169.43 and a fifty-two week high of $283.47.

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). The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.21 billion. EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. Equities analysts expect that EPAM Systems, Inc. will post 8.9 earnings per share for the current year.

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.