Corebridge Financial Inc. Decreases Stake in EPAM Systems, Inc. (NYSE:EPAM)

Corebridge Financial Inc. trimmed its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 5.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,288 shares of the information technology services provider’s stock after selling 861 shares during the period. Corebridge Financial Inc.’s holdings in EPAM Systems were worth $3,341,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in EPAM. Aurora Investment Counsel grew its holdings in EPAM Systems by 0.7% during the 4th quarter. Aurora Investment Counsel now owns 6,101 shares of the information technology services provider’s stock worth $1,427,000 after acquiring an additional 45 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of EPAM Systems by 90.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 54 shares during the last quarter. SkyView Investment Advisors LLC grew its stake in shares of EPAM Systems by 3.0% during the third quarter. SkyView Investment Advisors LLC now owns 2,055 shares of the information technology services provider’s stock worth $409,000 after purchasing an additional 60 shares in the last quarter. Baker Tilly Wealth Management LLC increased its holdings in EPAM Systems by 4.9% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 1,465 shares of the information technology services provider’s stock valued at $343,000 after buying an additional 69 shares during the last quarter. Finally, TD Private Client Wealth LLC raised its stake in EPAM Systems by 88.5% in the fourth quarter. TD Private Client Wealth LLC now owns 147 shares of the information technology services provider’s stock valued at $34,000 after buying an additional 69 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

EPAM Systems Price Performance

EPAM Systems stock opened at $169.00 on Tuesday. The business has a 50 day simple moving average of $219.75 and a 200-day simple moving average of $220.51. EPAM Systems, Inc. has a 12 month low of $164.00 and a 12 month high of $277.04. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.96 and a quick ratio of 4.56. The stock has a market capitalization of $9.61 billion, a PE ratio of 21.56, a price-to-earnings-growth ratio of 3.38 and a beta of 1.61.

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Scotiabank lowered their price objective on EPAM Systems from $275.00 to $250.00 and set a “sector outperform” rating for the company in a research report on Monday, February 24th. StockNews.com downgraded EPAM Systems from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Barclays dropped their price target on shares of EPAM Systems from $290.00 to $270.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. Jefferies Financial Group lowered their target price on shares of EPAM Systems from $305.00 to $288.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. Finally, The Goldman Sachs Group raised shares of EPAM Systems from a “neutral” rating to a “buy” rating and increased their target price for the company from $235.00 to $295.00 in a research report on Friday, December 6th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $262.47.

Insider Activity at EPAM Systems

In other EPAM Systems news, CFO Jason D. Peterson sold 1,078 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $257.00, for a total value of $277,046.00. Following the completion of the transaction, the chief financial officer now owns 23,382 shares in the company, valued at approximately $6,009,174. This represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.30% of the stock is owned by insiders.

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.