Wells Fargo & Company MN Trims Stake in EPAM Systems, Inc. (NYSE:EPAM)

Wells Fargo & Company MN lowered its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM) by 12.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,599 shares of the information technology services provider’s stock after selling 4,923 shares during the quarter. Wells Fargo & Company MN’s holdings in EPAM Systems were worth $8,090,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Aurora Investment Counsel increased its stake in EPAM Systems by 0.7% in the 4th quarter. Aurora Investment Counsel now owns 6,101 shares of the information technology services provider’s stock worth $1,427,000 after buying an additional 45 shares during the period. UniSuper Management Pty Ltd increased its position in EPAM Systems by 0.3% during the 4th quarter. UniSuper Management Pty Ltd now owns 15,632 shares of the information technology services provider’s stock valued at $3,655,000 after purchasing an additional 52 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of EPAM Systems by 90.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 54 shares in the last quarter. SkyView Investment Advisors LLC boosted its holdings in shares of EPAM Systems by 3.0% in the 3rd quarter. SkyView Investment Advisors LLC now owns 2,055 shares of the information technology services provider’s stock valued at $409,000 after buying an additional 60 shares in the last quarter. Finally, Baker Tilly Wealth Management LLC boosted its position in shares of EPAM Systems by 4.9% in the 4th quarter. Baker Tilly Wealth Management LLC now owns 1,465 shares of the information technology services provider’s stock worth $343,000 after purchasing an additional 69 shares in the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Insider Buying and Selling at EPAM Systems

In related news, CFO Jason D. Peterson sold 1,078 shares of the firm’s 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 directly owns 23,382 shares of the company’s stock, valued at $6,009,174. This trade represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.30% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on EPAM shares. Piper Sandler lowered shares of EPAM Systems from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $251.00 to $170.00 in a report on Wednesday. Morgan Stanley lifted their price target on shares of EPAM Systems from $230.00 to $256.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Barclays reduced their price objective on EPAM Systems from $290.00 to $270.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. StockNews.com cut EPAM Systems from a “buy” rating to a “hold” rating in a report on Saturday, April 12th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $265.00 price objective on shares of EPAM Systems in a research report on Thursday, February 20th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, EPAM Systems presently has an average rating of “Moderate Buy” and an average price target of $245.93.

EPAM Systems Trading Down 0.3 %

Shares of EPAM Systems stock opened at $146.80 on Friday. EPAM Systems, Inc. has a fifty-two week low of $138.15 and a fifty-two week high of $269.00. 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 business has a fifty day simple moving average of $189.52 and a 200-day simple moving average of $215.14. The firm has a market cap of $8.38 billion, a price-to-earnings ratio of 18.72, a price-to-earnings-growth ratio of 3.38 and a beta of 1.69.

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

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.