DSM Capital Partners LLC Trims Position in EPAM Systems, Inc. (NYSE:EPAM)

DSM Capital Partners LLC trimmed its stake in EPAM Systems, Inc. (NYSE:EPAM) by 33.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 601,223 shares of the information technology services provider’s stock after selling 299,959 shares during the period. EPAM Systems comprises 2.7% of DSM Capital Partners LLC’s holdings, making the stock its 12th biggest holding. DSM Capital Partners LLC’s holdings in EPAM Systems were worth $178,768,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. NBC Securities Inc. bought a new stake in shares of EPAM Systems during the third quarter valued at approximately $46,000. Ieq Capital LLC grew its position in shares of EPAM Systems by 52.8% during the 3rd quarter. Ieq Capital LLC now owns 6,319 shares of the information technology services provider’s stock worth $1,616,000 after buying an additional 2,184 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of EPAM Systems by 14.1% during the third quarter. Victory Capital Management Inc. now owns 24,351 shares of the information technology services provider’s stock valued at $6,226,000 after buying an additional 3,006 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of EPAM Systems by 10.9% in the third quarter. Assenagon Asset Management S.A. now owns 33,768 shares of the information technology services provider’s stock valued at $8,634,000 after acquiring an additional 3,329 shares in the last quarter. Finally, Illinois Municipal Retirement Fund raised its holdings in shares of EPAM Systems by 417.6% in the third quarter. Illinois Municipal Retirement Fund now owns 26,960 shares of the information technology services provider’s stock valued at $6,893,000 after acquiring an additional 21,751 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on EPAM shares. Mizuho cut their target price on shares of EPAM Systems from $345.00 to $258.00 and set a “buy” rating on the stock in a research report on Tuesday, May 14th. Guggenheim initiated coverage on shares of EPAM Systems in a report on Tuesday, March 19th. They set a “buy” rating and a $350.00 price objective on the stock. Piper Sandler lowered their target price on EPAM Systems from $317.00 to $252.00 and set an “overweight” rating for the company in a report on Thursday, May 9th. 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 research report on Friday, April 26th. Finally, HSBC reduced their price target on EPAM Systems from $350.00 to $345.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, EPAM Systems has an average rating of “Hold” and a consensus price target of $277.65.

Insider Transactions at EPAM Systems

In other news, SVP Sergey Yezhkov sold 8,000 shares of EPAM Systems stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $302.04, for a total value of $2,416,320.00. Following the sale, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Lawrence F. Solomon sold 5,350 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $306.00, for a total transaction of $1,637,100.00. Following the transaction, the senior vice president now owns 12,117 shares of the company’s stock, valued at approximately $3,707,802. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Sergey Yezhkov sold 8,000 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now directly owns 12,770 shares of the company’s stock, 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 90 days. Corporate insiders own 4.30% of the company’s stock.

EPAM Systems Stock Performance

EPAM stock traded down $6.79 during trading on Friday, reaching $180.11. The company had a trading volume of 1,097,553 shares, compared to its average volume of 989,384. EPAM Systems, Inc. has a twelve month low of $179.44 and a twelve month high of $317.50. The firm has a 50-day simple moving average of $242.47 and a 200-day simple moving average of $270.85. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.68 and a current ratio of 4.68. The company has a market cap of $10.44 billion, a price-to-earnings ratio of 24.64, a price-to-earnings-growth ratio of 4.13 and a beta of 1.46.

EPAM Systems (NYSE:EPAM) last issued its earnings results on Thursday, May 9th. The information technology services provider reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.09. EPAM Systems had a return on equity of 14.95% and a net margin of 9.28%. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.16 billion. As a group, sell-side analysts expect that EPAM Systems, Inc. will post 7.87 earnings per share for the current year.

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.