Manning & Napier Advisors LLC Increases Stock Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Manning & Napier Advisors LLC lifted its stake in shares of EPAM Systems, Inc. (NYSE:EPAM) by 48.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 664,286 shares of the information technology services provider’s stock after buying an additional 217,960 shares during the period. EPAM Systems makes up about 1.8% of Manning & Napier Advisors LLC’s portfolio, making the stock its 14th largest position. Manning & Napier Advisors LLC’s holdings in EPAM Systems were worth $155,323,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Livforsakringsbolaget Skandia Omsesidigt boosted its position in EPAM Systems by 181.8% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 155 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 100 shares during the last quarter. Versant Capital Management Inc purchased a new position in EPAM Systems in the fourth quarter worth $35,000. Farther Finance Advisors LLC boosted its position in EPAM Systems by 101.0% in the third quarter. Farther Finance Advisors LLC now owns 211 shares of the information technology services provider’s stock worth $42,000 after purchasing an additional 106 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in EPAM Systems in the third quarter worth $44,000. Finally, Sentry Investment Management LLC purchased a new position in shares of EPAM Systems during the 3rd quarter valued at $52,000. Hedge funds and other 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 1,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $237.00, for a total value of $237,000.00. Following the completion of the sale, the chief financial officer now owns 24,836 shares in the company, valued at approximately $5,886,132. This trade represents a 3.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Viktar Dvorkin sold 6,758 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $256.53, for a total value of $1,733,629.74. Following the completion of the sale, the senior vice president now owns 13,000 shares of the company’s stock, valued at approximately $3,334,890. This trade represents a 34.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,222 shares of company stock worth $2,089,878 in the last ninety days. 4.30% of the stock is owned by company insiders.

EPAM Systems Price Performance

Shares of EPAM traded down $5.70 during midday trading on Wednesday, reaching $249.44. The stock had a trading volume of 22,077 shares, compared to its average volume of 499,755. The company’s 50-day moving average is $240.01 and its 200 day moving average is $216.64. EPAM Systems, Inc. has a 12-month low of $169.43 and a 12-month high of $317.50. The company has a current ratio of 4.56, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $14.15 billion, a price-to-earnings ratio of 32.47, a price-to-earnings-growth ratio of 3.48 and a beta of 1.50.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Piper Sandler upped their price target on EPAM Systems from $225.00 to $258.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Barclays raised EPAM Systems from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $250.00 to $290.00 in a research report on Tuesday, December 17th. Itau BBA Securities raised EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 price target on the stock in a research report on Friday, November 8th. StockNews.com raised EPAM Systems from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Finally, Jefferies Financial Group dropped their price target on EPAM Systems from $305.00 to $288.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $269.84.

EPAM Systems 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.