AGF Management Ltd. Makes New Investment in EPAM Systems, Inc. (NYSE:EPAM)

AGF Management Ltd. acquired a new stake in EPAM Systems, Inc. (NYSE:EPAM) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 10,170 shares of the information technology services provider’s stock, valued at approximately $2,378,000.

Other hedge funds also recently modified their holdings of the company. Versant Capital Management Inc acquired a new position in EPAM Systems during the fourth quarter valued at approximately $35,000. Manchester Capital Management LLC raised its stake in shares of EPAM Systems by 590.0% during the 4th quarter. Manchester Capital Management LLC now owns 207 shares of the information technology services provider’s stock worth $48,000 after purchasing an additional 177 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of EPAM Systems by 101.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 211 shares of the information technology services provider’s stock valued at $42,000 after buying an additional 106 shares during the last quarter. Continuum Advisory LLC grew its stake in shares of EPAM Systems by 5,240.0% in the third quarter. Continuum Advisory LLC now owns 267 shares of the information technology services provider’s stock valued at $53,000 after buying an additional 262 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its stake in shares of EPAM Systems by 21.3% in the third quarter. First Horizon Advisors Inc. now owns 325 shares of the information technology services provider’s stock valued at $65,000 after buying an additional 57 shares in the last quarter. Institutional investors own 91.58% of the company’s stock.

Insider Activity at EPAM Systems

In other EPAM Systems 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 sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 4.30% of the stock is currently owned by corporate insiders.

EPAM Systems Trading Down 5.2 %

Shares of EPAM Systems stock opened at $179.46 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 2.96. The firm has a 50-day moving average of $233.04 and a 200-day moving average of $222.56. EPAM Systems, Inc. has a 52-week low of $169.43 and a 52-week high of $303.81. The stock has a market cap of $10.21 billion, a PE ratio of 22.89, a PEG ratio of 3.38 and a beta of 1.61.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $2.23 earnings per share for the quarter, missing the consensus estimate of $2.75 by ($0.52). EPAM Systems had a return on equity of 14.60% and a net margin of 9.61%. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.21 billion. As a group, sell-side analysts forecast that EPAM Systems, Inc. will post 8.9 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. The Goldman Sachs Group raised shares of EPAM Systems from a “neutral” rating to a “buy” rating and upped their price target for the stock from $235.00 to $295.00 in a research report on Friday, December 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $265.00 target price on shares of EPAM Systems in a report on Thursday, February 20th. Scotiabank reduced their price target on EPAM Systems from $275.00 to $250.00 and set a “sector outperform” rating for the company in a report on Monday, February 24th. Morgan Stanley boosted their price target on EPAM Systems from $230.00 to $256.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Finally, Jefferies Financial Group cut their price objective on EPAM Systems from $305.00 to $288.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, EPAM Systems presently has a consensus rating of “Moderate Buy” and an average target price of $267.33.

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.