EPAM Systems, Inc. (NYSE:EPAM) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lessened its stake in EPAM Systems, Inc. (NYSE:EPAM) by 5.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,303 shares of the information technology services provider’s stock after selling 565 shares during the quarter. Mutual of America Capital Management LLC’s holdings in EPAM Systems were worth $2,766,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of EPAM Systems by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 6,791,017 shares of the information technology services provider’s stock valued at $1,736,395,000 after purchasing an additional 19,130 shares during the last quarter. State Street Corp boosted its holdings in shares of EPAM Systems by 9.1% in the 1st quarter. State Street Corp now owns 2,471,924 shares of the information technology services provider’s stock valued at $733,197,000 after purchasing an additional 206,636 shares during the last quarter. Capital World Investors raised its stake in shares of EPAM Systems by 2.2% in the 1st quarter. Capital World Investors now owns 1,764,856 shares of the information technology services provider’s stock valued at $523,474,000 after acquiring an additional 38,642 shares during the period. Invesco Ltd. raised its stake in shares of EPAM Systems by 4.1% in the 1st quarter. Invesco Ltd. now owns 1,299,265 shares of the information technology services provider’s stock valued at $385,376,000 after acquiring an additional 50,627 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of EPAM Systems by 1.9% in the 1st quarter. Geode Capital Management LLC now owns 1,168,591 shares of the information technology services provider’s stock valued at $348,607,000 after acquiring an additional 22,326 shares during the period. Institutional investors and hedge funds own 91.58% of the company’s stock.

EPAM Systems Price Performance

EPAM opened at $247.25 on Friday. The company has a 50-day moving average of $286.55 and a 200-day moving average of $273.38. The company has a market capitalization of $14.30 billion, a P/E ratio of 34.97, a PEG ratio of 10.94 and a beta of 1.43. EPAM Systems, Inc. has a 1-year low of $197.99 and a 1-year high of $317.50. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.79 and a current ratio of 4.79.

EPAM Systems (NYSE:EPAM) last released its earnings results on Thursday, February 15th. The information technology services provider reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.51 by $0.24. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.14 billion. EPAM Systems had a net margin of 8.89% and a return on equity of 15.53%. The company’s revenue was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.71 EPS. Equities analysts expect that EPAM Systems, Inc. will post 7.72 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on EPAM shares. Piper Sandler reissued an “overweight” rating and issued a $369.00 target price on shares of EPAM Systems in a research note on Monday, March 4th. Scotiabank raised shares of EPAM Systems from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from $265.00 to $350.00 in a research note on Friday, February 16th. Mizuho raised their target price on shares of EPAM Systems from $340.00 to $345.00 and gave the company a “buy” rating in a research note on Friday, February 16th. HSBC cut their target price on shares of EPAM Systems from $350.00 to $345.00 and set a “buy” rating on the stock in a research note on Wednesday, April 3rd. Finally, Susquehanna raised their target price on shares of 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 stock. According to MarketBeat, EPAM Systems has a consensus rating of “Moderate Buy” and a consensus target price of $331.33.

Insider Activity

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

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.