Teacher Retirement System of Texas Buys New Shares in EPAM Systems, Inc. (NYSE:EPAM)

Teacher Retirement System of Texas purchased a new position in shares of EPAM Systems, Inc. (NYSE:EPAM) during the 4th quarter, Holdings Channel.com reports. The fund purchased 370,793 shares of the information technology services provider’s stock, valued at approximately $86,699,000.

Other large investors have also recently added to or reduced their stakes in the company. Aurora Investment Counsel raised its holdings in shares of EPAM Systems by 0.7% in the 4th quarter. Aurora Investment Counsel now owns 6,101 shares of the information technology services provider’s stock valued at $1,427,000 after purchasing an additional 45 shares during the period. EverSource Wealth Advisors LLC raised its stake in EPAM Systems by 90.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 54 shares during the period. First Horizon Advisors Inc. raised its stake in 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 during the period. SkyView Investment Advisors LLC boosted its stake in shares of EPAM Systems by 3.0% during the 3rd quarter. SkyView Investment Advisors LLC now owns 2,055 shares of the information technology services provider’s stock worth $409,000 after acquiring an additional 60 shares during the period. Finally, Baker Tilly Wealth Management LLC increased its holdings in shares of EPAM Systems by 4.9% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 1,465 shares of the information technology services provider’s stock worth $343,000 after acquiring an additional 69 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on EPAM shares. Morgan Stanley raised their price target on EPAM Systems from $230.00 to $256.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Scotiabank cut their target price on shares of EPAM Systems from $275.00 to $250.00 and set a “sector outperform” rating for the company in a research note on Monday, February 24th. The Goldman Sachs Group upgraded shares of EPAM Systems from a “neutral” rating to a “buy” rating and upped their price target for the company from $235.00 to $295.00 in a research note on Friday, December 6th. Jefferies Financial Group cut their price objective on shares of EPAM Systems from $305.00 to $288.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $265.00 target price on shares of EPAM Systems in a research report on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $262.47.

EPAM Systems Stock Down 1.1 %

EPAM stock opened at $181.00 on Thursday. EPAM Systems, Inc. has a 52 week low of $169.43 and a 52 week high of $295.59. The business has a 50-day simple moving average of $228.32 and a 200 day simple moving average of $221.97. 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 company has a market cap of $10.30 billion, a PE ratio of 23.09, a price-to-earnings-growth ratio of 3.38 and a beta of 1.61.

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

Insider Buying and Selling at EPAM Systems

In related news, CFO Jason D. Peterson sold 1,078 shares of the company’s stock in a transaction on Monday, January 27th. The stock was 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 directly owns 23,382 shares in the company, valued at $6,009,174. This represents a 4.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 4.30% of the company’s stock.

EPAM Systems Company Profile

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.