Amalgamated Bank Sells 266 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Amalgamated Bank decreased its stake in shares of EPAM Systems, Inc. (NYSE:EPAM) by 2.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,904 shares of the information technology services provider’s stock after selling 266 shares during the quarter. Amalgamated Bank’s holdings in EPAM Systems were worth $2,550,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of EPAM. Geneva Capital Management LLC grew its position in shares of EPAM Systems by 6.0% during the third quarter. Geneva Capital Management LLC now owns 71,281 shares of the information technology services provider’s stock valued at $14,187,000 after purchasing an additional 4,027 shares in the last quarter. Centre Asset Management LLC purchased a new position in EPAM Systems during the 4th quarter valued at approximately $8,757,000. Oppenheimer Asset Management Inc. bought a new stake in EPAM Systems in the 3rd quarter worth approximately $8,195,000. Oliver Luxxe Assets LLC purchased a new stake in shares of EPAM Systems during the 4th quarter worth approximately $1,889,000. Finally, Victory Capital Management Inc. boosted its position in shares of EPAM Systems by 247.6% during the 3rd quarter. Victory Capital Management Inc. now owns 72,447 shares of the information technology services provider’s stock valued at $14,419,000 after acquiring an additional 51,603 shares during the last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other EPAM Systems news, CFO Jason D. Peterson sold 1,078 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at $6,009,174. This trade represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 completion of the transaction, the senior vice president now directly owns 13,000 shares in the company, valued at $3,334,890. This represents a 34.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,300 shares of company stock worth $2,129,924. 4.30% of the stock is owned by corporate insiders.

EPAM Systems Stock Performance

Shares of EPAM stock opened at $206.02 on Friday. The company’s 50 day moving average is $239.96 and its 200 day moving average is $222.81. The company has a quick ratio of 4.56, a current ratio of 2.96 and a debt-to-equity ratio of 0.01. The firm has a market cap of $11.69 billion, a price-to-earnings ratio of 26.28, a PEG ratio of 3.38 and a beta of 1.51. EPAM Systems, Inc. has a 52-week low of $169.43 and a 52-week high of $317.50.

EPAM Systems (NYSE:EPAM) last announced its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $2.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. On average, sell-side analysts anticipate that EPAM Systems, Inc. will post 8.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on EPAM shares. Needham & Company LLC reissued a “buy” rating and issued a $265.00 price objective on shares of EPAM Systems in a research note on Thursday, February 20th. Scotiabank reduced their price objective on EPAM Systems from $275.00 to $250.00 and set a “sector outperform” rating on the stock in a research note on Monday, February 24th. Piper Sandler upped their price objective on EPAM Systems from $225.00 to $258.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Mizuho lifted their target price on EPAM Systems from $245.00 to $282.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Itau BBA Securities upgraded EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 price target on the stock in a report on Friday, November 8th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $268.44.

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.