M&T Bank Corp Trims Stock Holdings in EPAM Systems, Inc. (NYSE:EPAM)

M&T Bank Corp lessened its stake in shares of EPAM Systems, Inc. (NYSE:EPAM) by 8.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,652 shares of the information technology services provider’s stock after selling 1,184 shares during the quarter. M&T Bank Corp’s holdings in EPAM Systems were worth $4,059,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in EPAM. Benjamin F. Edwards & Company Inc. acquired a new position in EPAM Systems during the 4th quarter worth about $25,000. Amalgamated Bank grew its position in EPAM Systems by 2.9% in the 4th quarter. Amalgamated Bank now owns 15,488 shares of the information technology services provider’s stock valued at $4,605,000 after acquiring an additional 438 shares in the last quarter. SRS Capital Advisors Inc. increased its stake in EPAM Systems by 64.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 326 shares of the information technology services provider’s stock worth $97,000 after purchasing an additional 128 shares during the period. First Trust Direct Indexing L.P. acquired a new stake in shares of EPAM Systems during the fourth quarter worth about $231,000. Finally, Van ECK Associates Corp boosted its stake in shares of EPAM Systems by 7.1% in the fourth quarter. Van ECK Associates Corp now owns 8,328 shares of the information technology services provider’s stock valued at $2,476,000 after purchasing an additional 553 shares during the period. 91.58% of the stock is currently owned by institutional investors and hedge funds.

EPAM Systems Stock Performance

Shares of EPAM stock opened at $249.72 on Wednesday. The stock’s 50-day moving average price is $272.17 and its 200 day moving average price is $273.96. EPAM Systems, Inc. has a 52-week low of $197.99 and a 52-week high of $317.50. The stock has a market capitalization of $14.48 billion, a PE ratio of 35.32, a price-to-earnings-growth ratio of 10.58 and a beta of 1.46. The company has a quick ratio of 4.79, a current ratio of 4.79 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAM) last posted its quarterly earnings data on Thursday, February 15th. The information technology services provider reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.51 by $0.24. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.14 billion. EPAM Systems had a net margin of 8.89% and a return on equity of 15.53%. EPAM Systems’s quarterly revenue was down 6.0% on a year-over-year basis. During the same period last year, the firm posted $2.71 EPS. As a group, equities research analysts forecast that EPAM Systems, Inc. will post 7.7 EPS for the current year.

Insider Buying and Selling

In related news, SVP Sergey Yezhkov sold 8,000 shares of EPAM Systems stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $302.04, for a total transaction of $2,416,320.00. Following the completion of the transaction, the senior vice president now directly owns 12,770 shares of the company’s stock, valued at $3,857,050.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Balazs Fejes sold 3,470 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $301.93, for a total transaction of $1,047,697.10. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Sergey Yezhkov sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $302.04, for a total transaction of $2,416,320.00. Following the completion of the transaction, the senior vice president now owns 12,770 shares in the company, valued at approximately $3,857,050.80. The disclosure for this sale can be found here. Insiders sold 16,820 shares of company stock valued at $5,101,117 over the last ninety days. Corporate insiders own 4.30% of the company’s stock.

Analyst Ratings Changes

EPAM has been the topic of a number of research reports. Stifel Nicolaus increased their target price on shares of EPAM Systems from $288.00 to $301.00 and gave the stock a “buy” rating in a report on Monday, February 12th. Jefferies Financial Group reiterated a “hold” rating and issued a $295.00 target price on shares of EPAM Systems in a report on Thursday, January 11th. Wedbush restated an “outperform” rating and set a $340.00 price target on shares of EPAM Systems in a report on Wednesday, April 10th. Scotiabank lowered their price objective on EPAM Systems from $350.00 to $300.00 and set a “sector outperform” rating for the company in a research report on Monday, April 29th. Finally, Morgan Stanley raised EPAM Systems from an “underweight” rating to an “equal weight” rating and dropped their target price for the company from $236.00 to $225.00 in a report on Friday, April 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, EPAM Systems currently has an average rating of “Moderate Buy” and a consensus price target of $315.60.

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.