Connor Clark & Lunn Investment Management Ltd. Makes New Investment in EPAM Systems, Inc. (NYSE:EPAM)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of EPAM Systems, Inc. (NYSE:EPAM) in the fourth quarter, Holdings Channel reports. The fund purchased 17,012 shares of the information technology services provider’s stock, valued at approximately $3,978,000.

A number of other institutional investors also recently added to or reduced their stakes in EPAM. EverSource Wealth Advisors LLC lifted its holdings in shares of 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 valued at $27,000 after buying an additional 54 shares during the period. Versant Capital Management Inc acquired a new stake in shares of EPAM Systems in the fourth quarter valued at $35,000. Manchester Capital Management LLC lifted its holdings in shares of EPAM Systems by 590.0% in the fourth quarter. Manchester Capital Management LLC now owns 207 shares of the information technology services provider’s stock valued at $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 third quarter. Continuum Advisory LLC now owns 267 shares of the information technology services provider’s stock valued at $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 third quarter. First Horizon Advisors Inc. now owns 325 shares of the information technology services provider’s stock valued at $65,000 after buying an additional 57 shares during the period. Institutional investors and hedge funds own 91.58% of the company’s stock.

EPAM Systems Stock Performance

Shares of EPAM stock opened at $182.28 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.96 and a quick ratio of 4.56. EPAM Systems, Inc. has a fifty-two week low of $169.43 and a fifty-two week high of $301.60. The stock’s 50-day moving average is $231.08 and its two-hundred day moving average is $222.49. The firm has a market cap of $10.37 billion, a P/E ratio of 23.25, a PEG ratio of 3.38 and a beta of 1.61.

EPAM Systems (NYSE:EPAM) last issued its earnings results on Thursday, February 20th. The information technology services provider reported $2.23 earnings per share for the quarter, missing the consensus estimate of $2.75 by ($0.52). EPAM Systems had a return on equity of 14.60% and a net margin of 9.61%. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.21 billion. Analysts predict that EPAM Systems, Inc. will post 8.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $265.00 price objective on shares of EPAM Systems in a report on Thursday, February 20th. The Goldman Sachs Group raised EPAM Systems from a “neutral” rating to a “buy” rating and upped their target price for the company from $235.00 to $295.00 in a report on Friday, December 6th. Scotiabank reduced 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. StockNews.com downgraded EPAM Systems from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Finally, Barclays reduced their target price on EPAM Systems from $290.00 to $270.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, EPAM Systems has a consensus rating of “Moderate Buy” and a consensus target price of $267.33.

Insiders Place Their Bets

In other EPAM Systems news, CFO Jason D. Peterson sold 1,078 shares of the company’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $257.00, for a total value of $277,046.00. Following the transaction, the chief financial officer now directly owns 23,382 shares of the company’s stock, valued at $6,009,174. This represents a 4.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 4.30% of the company’s stock.

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.