Handelsbanken Fonder AB Has $2.13 Million Position in EPAM Systems, Inc. (NYSE:EPAM)

Handelsbanken Fonder AB cut its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM) by 31.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,174 shares of the information technology services provider’s stock after selling 3,310 shares during the quarter. Handelsbanken Fonder AB’s holdings in EPAM Systems were worth $2,133,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in EPAM. VisionPoint Advisory Group LLC lifted its position in shares of EPAM Systems by 103.0% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 136 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 69 shares during the period. Lindbrook Capital LLC lifted its position in shares of EPAM Systems by 123.3% during the 3rd quarter. Lindbrook Capital LLC now owns 163 shares of the information technology services provider’s stock valued at $42,000 after acquiring an additional 90 shares during the period. Compagnie Lombard Odier SCmA bought a new stake in shares of EPAM Systems during the 3rd quarter valued at $45,000. NBC Securities Inc. bought a new stake in shares of EPAM Systems during the 3rd quarter valued at $46,000. Finally, Exchange Traded Concepts LLC lifted its position in shares of EPAM Systems by 46.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 214 shares of the information technology services provider’s stock valued at $55,000 after acquiring an additional 68 shares during the period. 91.58% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Balazs Fejes sold 3,470 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $301.93, for a total value of $1,047,697.10. Following the completion of the sale, the executive vice president now owns 13,334 shares of the company’s stock, valued at $4,025,934.62. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Lawrence F. Solomon sold 5,350 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $306.00, for a total value of $1,637,100.00. Following the completion of the sale, the senior vice president now owns 12,117 shares of the company’s stock, valued at $3,707,802. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Balazs Fejes sold 3,470 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $301.93, for a total value of $1,047,697.10. Following the sale, the executive vice president now directly owns 13,334 shares of the company’s stock, valued at approximately $4,025,934.62. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,820 shares of company stock valued at $5,101,117. Company insiders own 4.30% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on EPAM. Guggenheim began coverage on EPAM Systems in a research report on Tuesday, March 19th. They set a “buy” rating and a $350.00 target price for the company. JPMorgan Chase & Co. upped their price objective on EPAM Systems from $315.00 to $334.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. Susquehanna upped their price objective on EPAM Systems from $300.00 to $360.00 and gave the stock a “positive” rating in a research report on Friday, February 16th. Citigroup dropped their price objective on EPAM Systems from $325.00 to $275.00 and set a “neutral” rating for the company in a research report on Monday, April 22nd. Finally, Morgan Stanley upgraded EPAM Systems from an “underweight” rating to an “equal weight” rating and dropped their price objective for the stock from $236.00 to $225.00 in a research report on Friday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $323.93.

EPAM Systems Price Performance

EPAM Systems stock opened at $237.75 on Friday. The company has a current ratio of 4.79, a quick ratio of 4.79 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $13.79 billion, a PE ratio of 33.63, a P/E/G ratio of 10.69 and a beta of 1.43. EPAM Systems, Inc. has a 12 month low of $197.99 and a 12 month high of $317.50. The stock has a 50-day moving average price of $282.43 and a two-hundred day moving average price of $273.43.

EPAM Systems (NYSE:EPAM) last posted its earnings results 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 firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.14 billion. EPAM Systems had a return on equity of 15.53% and a net margin of 8.89%. The business’s quarterly revenue was down 6.0% on a year-over-year basis. During the same period last year, the company earned $2.71 earnings per share. Analysts expect that EPAM Systems, Inc. will post 7.72 EPS for the current 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.