Manning & Napier Advisors LLC Sells 252,636 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Manning & Napier Advisors LLC cut its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 38.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 411,650 shares of the information technology services provider’s stock after selling 252,636 shares during the quarter. Manning & Napier Advisors LLC’s holdings in EPAM Systems were worth $69,503,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its stake in shares of EPAM Systems by 90.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 54 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in EPAM Systems by 2,500.0% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 130 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 125 shares during the period. TD Private Client Wealth LLC grew its holdings in EPAM Systems by 88.5% in the fourth quarter. TD Private Client Wealth LLC now owns 147 shares of the information technology services provider’s stock worth $34,000 after purchasing an additional 69 shares during the period. Sentry Investment Management LLC purchased a new stake in EPAM Systems in the first quarter worth about $33,000. Finally, Physician Wealth Advisors Inc. bought a new stake in shares of EPAM Systems in the 4th quarter worth approximately $49,000. Institutional investors own 91.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Barclays boosted their price target on EPAM Systems from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Monday, May 12th. Scotiabank dropped their target price on EPAM Systems from $250.00 to $200.00 and set a “sector outperform” rating on the stock in a report on Tuesday, April 29th. Morgan Stanley dropped their target price on EPAM Systems from $250.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, May 9th. Guggenheim upped their price target on shares of EPAM Systems from $210.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Finally, Needham & Company LLC upped their price target on shares of EPAM Systems from $185.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $233.93.

EPAM Systems Price Performance

EPAM opened at $162.98 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.06 and a current ratio of 3.06. The stock has a market capitalization of $9.23 billion, a P/E ratio of 22.79, a P/E/G ratio of 2.16 and a beta of 1.72. The company’s 50-day simple moving average is $168.71 and its two-hundred day simple moving average is $200.98. EPAM Systems, Inc. has a 52-week low of $138.15 and a 52-week high of $269.00.

EPAM Systems (NYSE:EPAM) last posted its earnings results on Thursday, May 8th. The information technology services provider reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.14. The business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.28 billion. EPAM Systems had a net margin of 8.47% and a return on equity of 14.15%. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.46 EPS. As a group, analysts predict 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.