Tobam Sells 35,350 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Tobam lessened its holdings in EPAM Systems, Inc. (NYSE:EPAM) by 60.3% during the 4th quarter, Holdings Channel reports. The firm owned 23,261 shares of the information technology services provider’s stock after selling 35,350 shares during the period. Tobam’s holdings in EPAM Systems were worth $6,916,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of EPAM. Natixis Advisors L.P. raised its holdings in EPAM Systems by 5.1% during the 3rd quarter. Natixis Advisors L.P. now owns 28,200 shares of the information technology services provider’s stock worth $7,210,000 after buying an additional 1,370 shares during the period. Lone Pine Capital LLC boosted its position in EPAM Systems by 9.2% during the third quarter. Lone Pine Capital LLC now owns 1,054,229 shares of the information technology services provider’s stock worth $269,556,000 after purchasing an additional 88,641 shares during the period. TD Asset Management Inc boosted its position in EPAM Systems by 2.5% during the third quarter. TD Asset Management Inc now owns 63,074 shares of the information technology services provider’s stock worth $16,127,000 after purchasing an additional 1,558 shares during the period. Wellington Management Group LLP bought a new stake in shares of EPAM Systems in the third quarter valued at about $13,402,000. Finally, Assenagon Asset Management S.A. boosted its position in shares of EPAM Systems by 131.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 78,156 shares of the information technology services provider’s stock valued at $23,239,000 after acquiring an additional 44,388 shares during the period. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EPAM has been the topic of a number of analyst reports. Scotiabank upgraded shares of EPAM Systems from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the stock from $265.00 to $350.00 in a research note on Friday, February 16th. Citigroup raised their price objective on shares of EPAM Systems from $312.00 to $325.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. Barclays lifted their price target on shares of EPAM Systems from $305.00 to $315.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 20th. Guggenheim assumed coverage on EPAM Systems in a research note on Tuesday, March 19th. They set a “buy” rating and a $350.00 price objective on the stock. Finally, Susquehanna boosted their price objective on EPAM Systems from $300.00 to $360.00 and gave the company a “positive” rating in a research note on Friday, February 16th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, EPAM Systems presently has a consensus rating of “Moderate Buy” and an average price target of $331.33.

Insider Buying and Selling

In other EPAM Systems news, EVP Balazs Fejes sold 3,470 shares of the company’s 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 sale, the executive vice president now owns 13,334 shares in the company, valued at approximately $4,025,934.62. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, SVP Sergey Yezhkov sold 8,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $302.04, for a total value of $2,416,320.00. Following the transaction, the senior vice president now owns 12,770 shares in the company, valued at $3,857,050.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Balazs Fejes sold 3,470 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $301.93, for a total value of $1,047,697.10. Following the sale, the executive vice president now owns 13,334 shares in the company, valued at $4,025,934.62. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,820 shares of company stock worth $5,101,117. Company insiders own 3.20% of the company’s stock.

EPAM Systems Stock Performance

EPAM Systems stock traded up $1.30 during trading hours on Tuesday, hitting $271.30. 52,118 shares of the stock traded hands, compared to its average volume of 500,947. 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’s 50 day moving average price is $290.95 and its 200-day moving average price is $273.62. The stock has a market capitalization of $15.69 billion, a price-to-earnings ratio of 38.22, a P/E/G ratio of 11.53 and a beta of 1.44. EPAM Systems, Inc. has a 1 year low of $197.99 and a 1 year high of $317.50.

EPAM Systems (NYSE:EPAM) last announced its earnings results on Thursday, February 15th. The information technology services provider reported $2.75 EPS for the quarter, beating analysts’ consensus estimates of $2.51 by $0.24. EPAM Systems had a return on equity of 15.53% and a net margin of 8.89%. 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 firm earned $2.71 earnings per share. The business’s revenue was down 6.0% compared to the same quarter last year. As a group, equities analysts expect that EPAM Systems, Inc. will post 7.72 EPS for the current fiscal 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.