Kayne Anderson Rudnick Investment Management LLC Grows Stake in EPAM Systems, Inc. (NYSE:EPAM)

Kayne Anderson Rudnick Investment Management LLC increased its holdings in EPAM Systems, Inc. (NYSE:EPAM) by 2,500.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 130 shares of the information technology services provider’s stock after purchasing an additional 125 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in EPAM Systems were worth $30,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in EPAM. EverSource Wealth Advisors LLC grew its position in shares of EPAM Systems by 90.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 54 shares in the last quarter. TD Private Client Wealth LLC increased its stake in EPAM Systems by 88.5% in the 4th quarter. TD Private Client Wealth LLC now owns 147 shares of the information technology services provider’s stock worth $34,000 after acquiring an additional 69 shares during the last quarter. Versant Capital Management Inc purchased a new stake in shares of EPAM Systems during the 4th quarter worth approximately $35,000. Manchester Capital Management LLC grew its holdings in shares of EPAM Systems by 590.0% in the fourth quarter. Manchester Capital Management LLC now owns 207 shares of the information technology services provider’s stock valued at $48,000 after purchasing an additional 177 shares in the last quarter. Finally, Physician Wealth Advisors Inc. purchased a new position in shares of EPAM Systems in the fourth quarter valued at $49,000. 91.58% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Jason D. Peterson sold 1,078 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $257.00, for a total value of $277,046.00. Following the completion of the sale, the chief financial officer now directly owns 23,382 shares of the company’s stock, valued at $6,009,174. This represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Scotiabank lowered their price objective 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 shares of EPAM Systems from a “buy” rating to a “hold” rating in a report on Saturday, April 12th. Piper Sandler cut EPAM Systems from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $251.00 to $170.00 in a research note on Wednesday, April 16th. Jefferies Financial Group lowered their price objective on EPAM Systems from $305.00 to $288.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Finally, Susquehanna cut their target price on EPAM Systems from $270.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $241.93.

EPAM Systems Stock Up 3.9 %

NYSE:EPAM opened at $153.17 on Thursday. The company has a market cap of $8.74 billion, a price-to-earnings ratio of 19.54, a price-to-earnings-growth ratio of 3.38 and a beta of 1.69. EPAM Systems, Inc. has a twelve month low of $138.15 and a twelve month high of $269.00. The company has a current ratio of 2.96, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01. The stock has a fifty day simple moving average of $180.12 and a 200-day simple moving average of $213.80.

EPAM Systems (NYSE:EPAM) last released 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 analysts’ expectations of $1.21 billion. EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. Analysts anticipate that EPAM Systems, Inc. will post 8.9 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.