EPAM Systems, Inc. (NYSE:EPAM) Position Reduced by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 21.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,079 shares of the information technology services provider’s stock after selling 3,369 shares during the quarter. PNC Financial Services Group Inc.’s holdings in EPAM Systems were worth $2,824,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its position in shares of EPAM Systems by 643.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 417,526 shares of the information technology services provider’s stock worth $83,100,000 after purchasing an additional 361,363 shares in the last quarter. Manning & Napier Advisors LLC lifted its position in shares of EPAM Systems by 48.8% in the fourth quarter. Manning & Napier Advisors LLC now owns 664,286 shares of the information technology services provider’s stock worth $155,323,000 after purchasing an additional 217,960 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of EPAM Systems by 45.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 515,351 shares of the information technology services provider’s stock worth $102,570,000 after purchasing an additional 160,989 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of EPAM Systems in the fourth quarter worth approximately $27,916,000. Finally, Citigroup Inc. lifted its position in shares of EPAM Systems by 199.5% in the third quarter. Citigroup Inc. now owns 173,721 shares of the information technology services provider’s stock worth $34,576,000 after purchasing an additional 115,720 shares in the last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EPAM has been the subject of a number of research analyst reports. The Goldman Sachs Group raised shares of EPAM Systems from a “neutral” rating to a “buy” rating and increased their price target for the stock from $235.00 to $295.00 in a research report on Friday, December 6th. Scotiabank reduced their price target on shares of 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 objective on EPAM Systems from $290.00 to $270.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Finally, Jefferies Financial Group dropped their price objective on EPAM Systems from $305.00 to $288.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $267.33.

Insider Transactions at EPAM Systems

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

EPAM Systems Trading Up 1.2 %

Shares of EPAM stock opened at $182.28 on Friday. The business’s 50 day moving average is $232.05 and its two-hundred day moving average is $222.26. The company has a market cap of $10.37 billion, a PE ratio of 23.25, a price-to-earnings-growth ratio of 3.38 and a beta of 1.61. The company has a quick ratio of 4.56, a current ratio of 2.96 and a debt-to-equity ratio of 0.01. EPAM Systems, Inc. has a 12 month low of $169.43 and a 12 month high of $302.19.

EPAM Systems (NYSE:EPAM) last announced its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $2.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.75 by ($0.52). The company 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 EPS for the current year.

EPAM Systems Company 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.