M&T Bank Corp Sells 1,184 Shares of EPAM Systems, Inc. (NYSE:EPAM)

M&T Bank Corp trimmed its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 8.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,652 shares of the information technology services provider’s stock after selling 1,184 shares during the period. M&T Bank Corp’s holdings in EPAM Systems were worth $4,059,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. International Assets Investment Management LLC purchased a new position in EPAM Systems in the 4th quarter valued at approximately $663,080,000. Royal Bank of Canada grew its stake in EPAM Systems by 265.7% during the third quarter. Royal Bank of Canada now owns 183,284 shares of the information technology services provider’s stock valued at $46,864,000 after acquiring an additional 133,163 shares in the last quarter. Lone Pine Capital LLC increased its holdings in EPAM Systems by 9.2% during the 3rd quarter. Lone Pine Capital LLC now owns 1,054,229 shares of the information technology services provider’s stock worth $269,556,000 after acquiring an additional 88,641 shares during the period. Envestnet Asset Management Inc. lifted its stake in EPAM Systems by 95.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 166,346 shares of the information technology services provider’s stock worth $42,533,000 after purchasing an additional 81,386 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new position in shares of EPAM Systems during the 3rd quarter valued at $13,402,000. 91.58% of the stock is owned by hedge funds and other institutional investors.

EPAM Systems Stock Performance

Shares of EPAM stock opened at $249.72 on Wednesday. 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 company has a market capitalization of $14.48 billion, a price-to-earnings ratio of 35.32, a price-to-earnings-growth ratio of 10.58 and a beta of 1.46. EPAM Systems, Inc. has a one year low of $197.99 and a one year high of $317.50. The company’s 50-day moving average is $272.17 and its 200 day moving average is $273.96.

EPAM Systems (NYSE:EPAM) last released its quarterly earnings data on Thursday, February 15th. The information technology services provider reported $2.75 EPS for the quarter, beating the consensus estimate of $2.51 by $0.24. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.14 billion. EPAM Systems had a return on equity of 15.53% and a net margin of 8.89%. EPAM Systems’s revenue was down 6.0% compared to the same quarter last year. During the same period last year, the firm posted $2.71 earnings per share. Sell-side analysts expect that EPAM Systems, Inc. will post 7.7 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on EPAM. Citigroup decreased their target price on EPAM Systems from $325.00 to $275.00 and set a “neutral” rating on the stock in a research note on Monday, April 22nd. Guggenheim assumed coverage on EPAM Systems in a research note on Tuesday, March 19th. They set a “buy” rating and a $350.00 target price on the stock. HSBC dropped their price target on EPAM Systems from $350.00 to $345.00 and set a “buy” rating for the company in a research note on Wednesday, April 3rd. Morgan Stanley upgraded shares of EPAM Systems from an “underweight” rating to an “equal weight” rating and decreased their price objective for the stock from $236.00 to $225.00 in a report on Friday, April 26th. Finally, Stifel Nicolaus lifted their target price on shares of EPAM Systems from $288.00 to $301.00 and gave the company a “buy” rating in a research note on Monday, February 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $315.60.

Insider Activity at EPAM Systems

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

EPAM Systems Company 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.