Teacher Retirement System of Texas Purchases New Shares in EPAM Systems, Inc. (NYSE:EPAM)

Teacher Retirement System of Texas acquired a new position in EPAM Systems, Inc. (NYSE:EPAM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 370,793 shares of the information technology services provider’s stock, valued at approximately $86,699,000. Teacher Retirement System of Texas owned approximately 0.65% of EPAM Systems as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. William Blair Investment Management LLC bought a new position in EPAM Systems in the 4th quarter worth approximately $166,906,000. Massachusetts Financial Services Co. MA increased its stake in shares of EPAM Systems by 643.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 417,526 shares of the information technology services provider’s stock valued at $83,100,000 after buying an additional 361,363 shares during the period. Manning & Napier Advisors LLC raised its position in shares of EPAM Systems by 48.8% during 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 acquiring an additional 217,960 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of EPAM Systems by 45.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 515,351 shares of the information technology services provider’s stock valued at $102,570,000 after acquiring an additional 160,989 shares during the period. Finally, Raymond James Financial Inc. bought a new position in EPAM Systems in the fourth quarter valued at about $27,916,000. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Jason D. Peterson sold 1,078 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $257.00, for a total transaction of $277,046.00. Following the completion of the transaction, the chief financial officer now directly owns 23,382 shares in the company, valued at $6,009,174. This represents a 4.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 4.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $265.00 price objective on shares of EPAM Systems in a report on Thursday, February 20th. Scotiabank dropped 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 note on Monday, February 24th. Jefferies Financial Group reduced their price objective on shares of EPAM Systems from $305.00 to $288.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. StockNews.com lowered shares of EPAM Systems from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Finally, Morgan Stanley increased their price target on EPAM Systems from $230.00 to $256.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, EPAM Systems currently has an average rating of “Moderate Buy” and an average price target of $262.47.

EPAM Systems Trading Down 1.1 %

Shares of NYSE:EPAM opened at $181.00 on Thursday. The firm has a market cap of $10.30 billion, a price-to-earnings ratio of 23.09, a PEG ratio of 3.38 and a beta of 1.61. EPAM Systems, Inc. has a 12 month low of $169.43 and a 12 month high of $295.59. The company’s fifty day simple moving average is $228.32 and its 200 day simple moving average is $221.97. 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 (NYSE:EPAM) last released its quarterly earnings results 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 firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.21 billion. EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. As a group, research 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.