Chase Investment Counsel Corp decreased its stake in shares of EPAM Systems Inc (NYSE:EPAM) by 5.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,015 shares of the information technology services provider’s stock after selling 660 shares during the quarter. Chase Investment Counsel Corp’s holdings in EPAM Systems were worth $1,290,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in EPAM. PNC Financial Services Group Inc. grew its position in EPAM Systems by 34.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,462 shares of the information technology services provider’s stock valued at $123,000 after purchasing an additional 378 shares during the period. Bank of Montreal Can grew its position in EPAM Systems by 113.9% in the 4th quarter. Bank of Montreal Can now owns 1,773 shares of the information technology services provider’s stock valued at $190,000 after purchasing an additional 944 shares during the period. Wesbanco Bank Inc. acquired a new stake in EPAM Systems in the 4th quarter valued at $204,000. Clinton Group Inc. acquired a new stake in EPAM Systems in the 2nd quarter valued at $216,000. Finally, Comerica Bank acquired a new stake in EPAM Systems in the 4th quarter valued at $225,000. 87.65% of the stock is owned by institutional investors.
Several research firms recently issued reports on EPAM. Zacks Investment Research downgraded shares of EPAM Systems from a “hold” rating to a “sell” rating in a research report on Tuesday. Cowen set a $115.00 price target on shares of EPAM Systems and gave the company a “buy” rating in a research report on Monday, December 11th. Pivotal Research began coverage on shares of EPAM Systems in a research report on Tuesday, December 5th. They issued a “buy” rating and a $120.00 price target for the company. UBS Group downgraded shares of EPAM Systems from a “buy” rating to a “neutral” rating and lifted their price target for the company from $105.00 to $110.00 in a research report on Wednesday, November 29th. Finally, Bank of America lifted their price target on shares of EPAM Systems from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, November 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $102.87.
In other EPAM Systems news, CEO Arkadiy Dobkin sold 19,600 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $103.21, for a total transaction of $2,022,916.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 6.17% of the stock is currently owned by company insiders.
Shares of EPAM Systems Inc (NYSE:EPAM) traded down $0.29 during trading hours on Wednesday, reaching $110.17. The company’s stock had a trading volume of 59,825 shares, compared to its average volume of 289,351. The company has a current ratio of 5.56, a quick ratio of 5.56 and a debt-to-equity ratio of 0.03. EPAM Systems Inc has a fifty-two week low of $65.13 and a fifty-two week high of $119.18. The company has a market cap of $5,810.97, a PE ratio of 47.00, a PEG ratio of 1.67 and a beta of 0.93.
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About EPAM Systems
EPAM Systems, Inc is a g provider of software product development and digital platform engineering services to clients located primarily in North America, Europe, Asia and Australia. The Company’s service offerings cover the full software product development lifecycle from digital strategy and customer experience design to enterprise application platforms implementation and program management services and from complex software development services to maintenance, support, custom application development, application testing, and infrastructure management.
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