Kestra Investment Management LLC Acquires 809 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Kestra Investment Management LLC boosted its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM) by 64.1% in the fourth quarter, Holdings Channel reports. The firm owned 2,071 shares of the information technology services provider’s stock after purchasing an additional 809 shares during the quarter. Kestra Investment Management LLC’s holdings in EPAM Systems were worth $484,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EPAM. Massachusetts Financial Services Co. MA lifted its stake in EPAM Systems by 643.4% during 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 during the period. Manning & Napier Advisors LLC increased its holdings 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 buying an additional 217,960 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings 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 worth $102,570,000 after buying an additional 160,989 shares in the last quarter. Citigroup Inc. increased its holdings in shares of EPAM Systems by 199.5% during the third quarter. Citigroup Inc. now owns 173,721 shares of the information technology services provider’s stock worth $34,576,000 after buying an additional 115,720 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of EPAM Systems during the third quarter worth approximately $21,787,000. Institutional investors own 91.58% of the company’s stock.

Insiders Place Their Bets

In other EPAM Systems news, CFO Jason D. Peterson sold 1,078 shares of EPAM Systems stock in a transaction on 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 sale, the chief financial officer now owns 23,382 shares of the company’s stock, valued at approximately $6,009,174. The trade was a 4.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Viktar Dvorkin sold 6,758 shares of EPAM Systems stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $256.53, for a total transaction of $1,733,629.74. Following the transaction, the senior vice president now directly owns 13,000 shares in the company, valued at approximately $3,334,890. This represents a 34.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,300 shares of company stock valued at $2,129,924. Company insiders own 4.30% of the company’s stock.

Wall Street Analyst Weigh In

EPAM has been the subject of several recent analyst reports. Jefferies Financial Group dropped their price objective on shares of EPAM Systems from $305.00 to $288.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. The Goldman Sachs Group raised shares of EPAM Systems from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $235.00 to $295.00 in a report on Friday, December 6th. Needham & Company LLC raised their price objective on shares of EPAM Systems from $215.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Citigroup raised their price objective on shares of EPAM Systems from $207.00 to $210.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Finally, Piper Sandler raised their price objective on shares of EPAM Systems from $225.00 to $258.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $269.83.

EPAM Systems Price Performance

EPAM opened at $261.01 on Wednesday. The company has a fifty day moving average price of $244.68 and a two-hundred day moving average price of $221.91. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 4.56. EPAM Systems, Inc. has a 52 week low of $169.43 and a 52 week high of $317.50. The firm has a market capitalization of $14.80 billion, a PE ratio of 33.90, a P/E/G ratio of 3.96 and a beta of 1.51.

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.