Handelsbanken Fonder AB Sells 3,310 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Handelsbanken Fonder AB lowered its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 31.6% in the 4th quarter, HoldingsChannel reports. The firm owned 7,174 shares of the information technology services provider’s stock after selling 3,310 shares during the quarter. Handelsbanken Fonder AB’s holdings in EPAM Systems were worth $2,133,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Transatlantique Private Wealth LLC lifted its stake in shares of EPAM Systems by 1.5% in the 3rd quarter. Transatlantique Private Wealth LLC now owns 3,313 shares of the information technology services provider’s stock valued at $841,000 after acquiring an additional 48 shares during the last quarter. Renaissance Group LLC lifted its stake in shares of EPAM Systems by 1.1% in the 3rd quarter. Renaissance Group LLC now owns 4,903 shares of the information technology services provider’s stock valued at $1,254,000 after acquiring an additional 52 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of EPAM Systems by 0.4% in the 3rd quarter. Arizona State Retirement System now owns 15,797 shares of the information technology services provider’s stock valued at $4,039,000 after acquiring an additional 56 shares during the last quarter. Xponance Inc. lifted its stake in shares of EPAM Systems by 0.5% in the 3rd quarter. Xponance Inc. now owns 13,449 shares of the information technology services provider’s stock valued at $3,439,000 after acquiring an additional 65 shares during the last quarter. Finally, SkyView Investment Advisors LLC lifted its stake in shares of EPAM Systems by 4.1% in the 3rd quarter. SkyView Investment Advisors LLC now owns 1,676 shares of the information technology services provider’s stock valued at $429,000 after acquiring an additional 66 shares during the last quarter. Institutional investors own 91.58% of the company’s stock.

Wall Street Analysts Forecast Growth

EPAM has been the subject of several research analyst reports. Wolfe Research upgraded EPAM Systems from a “peer perform” rating to an “outperform” rating and set a $355.00 price objective for the company in a report on Thursday, January 4th. Needham & Company LLC increased their price objective on EPAM Systems from $295.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. HSBC dropped their price objective on EPAM Systems from $350.00 to $345.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. Mizuho increased their price objective on EPAM Systems from $340.00 to $345.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $369.00 price objective on shares of EPAM Systems in a report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $323.93.

Insider Activity at EPAM Systems

In related news, SVP Lawrence F. Solomon sold 5,350 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $306.00, for a total transaction of $1,637,100.00. Following the completion of the transaction, the senior vice president now owns 12,117 shares of the company’s stock, valued at approximately $3,707,802. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other EPAM Systems news, SVP Sergey Yezhkov sold 8,000 shares of EPAM Systems stock in a transaction on 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 completion of the sale, the senior vice president now owns 12,770 shares of the company’s stock, valued at approximately $3,857,050.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Lawrence F. Solomon sold 5,350 shares of EPAM Systems stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $306.00, for a total value of $1,637,100.00. Following the completion of the sale, the senior vice president now directly owns 12,117 shares of the company’s stock, valued at approximately $3,707,802. The disclosure for this sale can be found here. Insiders sold a total of 16,820 shares of company stock valued at $5,101,117 in the last 90 days. Corporate insiders own 4.30% of the company’s stock.

EPAM Systems Stock Up 0.3 %

Shares of NYSE:EPAM opened at $237.75 on Friday. EPAM Systems, Inc. has a 52-week low of $197.99 and a 52-week 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. The firm has a market capitalization of $13.79 billion, a P/E ratio of 33.63, a P/E/G ratio of 10.69 and a beta of 1.43. The stock has a 50 day moving average price of $282.43 and a 200-day moving average price of $273.43.

EPAM Systems (NYSE:EPAM) last posted its quarterly earnings data on Thursday, February 15th. The information technology services provider reported $2.75 earnings per share 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 company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the company earned $2.71 EPS. The firm’s revenue for the quarter was down 6.0% on a year-over-year basis. As a group, equities research analysts anticipate 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.