OLD National Bancorp IN Makes New Investment in EPAM Systems, Inc. (NYSE:EPAM)

OLD National Bancorp IN purchased a new position in shares of EPAM Systems, Inc. (NYSE:EPAM) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 739 shares of the information technology services provider’s stock, valued at approximately $220,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EPAM. CWM LLC grew its position in EPAM Systems by 10.1% during the 3rd quarter. CWM LLC now owns 1,436 shares of the information technology services provider’s stock worth $367,000 after purchasing an additional 132 shares during the period. IFP Advisors Inc purchased a new stake in shares of EPAM Systems during the 3rd quarter worth about $87,000. Exchange Traded Concepts LLC boosted its stake in shares of EPAM Systems by 46.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 214 shares of the information technology services provider’s stock worth $55,000 after acquiring an additional 68 shares in the last quarter. Czech National Bank boosted its stake in shares of EPAM Systems by 47.8% during the 3rd quarter. Czech National Bank now owns 10,130 shares of the information technology services provider’s stock worth $2,590,000 after acquiring an additional 3,276 shares in the last quarter. Finally, Simplicity Solutions LLC purchased a new stake in shares of EPAM Systems during the 3rd quarter worth about $212,000. 91.58% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at EPAM Systems

In other news, EVP Balazs Fejes sold 3,470 shares of the firm’s stock in a transaction that occurred on 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Sergey Yezhkov sold 8,000 shares of EPAM Systems stock in a transaction that occurred on 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 sale, the senior vice president now owns 12,770 shares in the company, valued at approximately $3,857,050.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Balazs Fejes sold 3,470 shares of EPAM Systems stock in a transaction that occurred on 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 sale, the executive vice president now owns 13,334 shares of the company’s stock, valued at approximately $4,025,934.62. The disclosure for this sale can be found here. Insiders sold 16,820 shares of company stock worth $5,101,117 in the last 90 days. Insiders own 4.30% of the company’s stock.

EPAM Systems Trading Up 0.3 %

EPAM opened at $237.75 on Friday. 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 company’s 50 day simple moving average is $282.43 and its two-hundred day simple moving average is $273.43. EPAM Systems, Inc. has a 1-year low of $197.99 and a 1-year high of $317.50. The firm has a market capitalization of $13.79 billion, a price-to-earnings ratio of 33.63, a price-to-earnings-growth ratio of 10.69 and a beta of 1.43.

EPAM Systems (NYSE:EPAM) last announced its quarterly earnings results on Thursday, February 15th. The information technology services provider reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.51 by $0.24. The business 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 business’s revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.71 EPS. Analysts expect that EPAM Systems, Inc. will post 7.72 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on EPAM shares. Scotiabank raised shares of EPAM Systems from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $265.00 to $350.00 in a research note on Friday, February 16th. JPMorgan Chase & Co. increased their target price on shares of EPAM Systems from $315.00 to $334.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 14th. Wolfe Research raised shares of EPAM Systems from a “peer perform” rating to an “outperform” rating and set a $355.00 price target on the stock in a research note on Thursday, January 4th. Piper Sandler reaffirmed an “overweight” rating and issued a $369.00 price target on shares of EPAM Systems in a research note on Monday, March 4th. Finally, Citigroup decreased their price target on shares of EPAM Systems from $325.00 to $275.00 and set a “neutral” rating on the stock in a research note on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, EPAM Systems currently has a consensus rating of “Moderate Buy” and an average target price of $323.93.

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.