New Century Financial Group LLC Acquires Shares of 1,001 EPAM Systems, Inc. (NYSE:EPAM)

New Century Financial Group LLC bought a new position in shares of EPAM Systems, Inc. (NYSE:EPAM) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,001 shares of the information technology services provider’s stock, valued at approximately $231,000.

A number of other institutional investors also recently modified their holdings of EPAM. American Century Companies Inc. raised its holdings in EPAM Systems by 7.6% in the 2nd quarter. American Century Companies Inc. now owns 13,982 shares of the information technology services provider’s stock worth $2,630,000 after purchasing an additional 987 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in EPAM Systems by 33.4% in the second quarter. Dimensional Fund Advisors LP now owns 342,734 shares of the information technology services provider’s stock worth $64,466,000 after buying an additional 85,883 shares in the last quarter. Sei Investments Co. lifted its holdings in EPAM Systems by 37.3% in the second quarter. Sei Investments Co. now owns 25,432 shares of the information technology services provider’s stock worth $4,785,000 after buying an additional 6,914 shares during the period. Profund Advisors LLC boosted its position in EPAM Systems by 7.1% during the 2nd quarter. Profund Advisors LLC now owns 1,194 shares of the information technology services provider’s stock valued at $225,000 after acquiring an additional 79 shares in the last quarter. Finally, ProShare Advisors LLC grew its holdings in shares of EPAM Systems by 9.3% during the 2nd quarter. ProShare Advisors LLC now owns 11,542 shares of the information technology services provider’s stock worth $2,171,000 after acquiring an additional 979 shares during the period. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EPAM has been the topic of several research reports. The Goldman Sachs Group upgraded EPAM Systems from a “neutral” rating to a “buy” rating and lifted their price target for the company from $235.00 to $295.00 in a research report on Friday, December 6th. Needham & Company LLC boosted their target price on shares of EPAM Systems from $215.00 to $265.00 and gave the company a “buy” rating in a report on Friday, November 8th. Susquehanna increased their price target on shares of EPAM Systems from $240.00 to $270.00 and gave the stock a “positive” rating in a research note on Friday, November 8th. StockNews.com raised shares of EPAM Systems from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Finally, Mizuho raised their target price on shares of EPAM Systems from $245.00 to $282.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, EPAM Systems has an average rating of “Moderate Buy” and a consensus target price of $269.84.

Insider Buying and Selling

In other EPAM Systems news, CFO Jason D. Peterson sold 1,000 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $237.00, for a total value of $237,000.00. Following the transaction, the chief financial officer now owns 24,836 shares of the company’s stock, valued at approximately $5,886,132. This represents a 3.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Viktar Dvorkin sold 6,758 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $256.53, for a total value of $1,733,629.74. Following the sale, the senior vice president now owns 13,000 shares of the company’s stock, valued at approximately $3,334,890. This represents a 34.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,222 shares of company stock worth $2,089,878. 4.30% of the stock is owned by insiders.

EPAM Systems Price Performance

EPAM opened at $252.67 on Friday. The company’s 50-day simple moving average is $239.08 and its two-hundred day simple moving average is $215.29. EPAM Systems, Inc. has a 52-week low of $169.43 and a 52-week high of $317.50. The stock has a market capitalization of $14.33 billion, a P/E ratio of 32.81, a P/E/G ratio of 3.48 and a beta of 1.50. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 4.56.

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.