Proficio Capital Partners LLC Purchases Shares of 16,134 EPAM Systems, Inc. (NYSE:EPAM)

Proficio Capital Partners LLC acquired a new position in EPAM Systems, Inc. (NYSE:EPAM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 16,134 shares of the information technology services provider’s stock, valued at approximately $3,772,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc acquired a new stake in shares of EPAM Systems during the 4th quarter valued at about $35,000. Manchester Capital Management LLC boosted its position in EPAM Systems by 590.0% during the fourth quarter. Manchester Capital Management LLC now owns 207 shares of the information technology services provider’s stock worth $48,000 after purchasing an additional 177 shares in the last quarter. Continuum Advisory LLC grew its holdings in EPAM Systems by 5,240.0% in the third quarter. Continuum Advisory LLC now owns 267 shares of the information technology services provider’s stock valued at $53,000 after purchasing an additional 262 shares during the period. First Horizon Advisors Inc. increased its position in shares of EPAM Systems by 21.3% in the third quarter. First Horizon Advisors Inc. now owns 325 shares of the information technology services provider’s stock valued at $65,000 after buying an additional 57 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in shares of EPAM Systems during the 3rd quarter worth approximately $108,000. 91.58% of the stock is owned by hedge funds and other institutional investors.

EPAM Systems Stock Up 2.0 %

NYSE EPAM opened at $186.34 on Tuesday. The business’s fifty day simple moving average is $230.19 and its 200-day simple moving average is $222.38. The company has a quick ratio of 4.56, a current ratio of 2.96 and a debt-to-equity ratio of 0.01. The firm has a market cap of $10.60 billion, a PE ratio of 23.77, a P/E/G ratio of 3.38 and a beta of 1.61. EPAM Systems, Inc. has a 52 week low of $169.43 and a 52 week high of $301.60.

EPAM Systems (NYSE:EPAM) last issued its earnings results on Thursday, February 20th. The information technology services provider reported $2.23 EPS for the quarter, missing analysts’ consensus estimates of $2.75 by ($0.52). EPAM Systems had a return on equity of 14.60% and a net margin of 9.61%. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.21 billion. As a group, equities analysts anticipate that EPAM Systems, Inc. will post 8.9 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Scotiabank dropped their price target on shares of EPAM Systems from $275.00 to $250.00 and set a “sector outperform” rating on the stock in a research note on Monday, February 24th. The Goldman Sachs Group upgraded shares of EPAM Systems from a “neutral” rating to a “buy” rating and lifted their target price for the company from $235.00 to $295.00 in a research report on Friday, December 6th. StockNews.com cut EPAM Systems from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Morgan Stanley increased their target price on EPAM Systems from $230.00 to $256.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $265.00 price target on shares of EPAM Systems in a research note on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $267.33.

Insider Activity at EPAM Systems

In related news, CFO Jason D. Peterson sold 1,078 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $257.00, for a total transaction of $277,046.00. Following the completion of the sale, the chief financial officer now directly owns 23,382 shares of the company’s stock, valued at approximately $6,009,174. This trade represents a 4.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.30% of the stock is currently owned by insiders.

EPAM Systems 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.