Cumberland Partners Ltd Takes $935,000 Position in EPAM Systems, Inc. (NYSE:EPAM)

Cumberland Partners Ltd purchased a new position in EPAM Systems, Inc. (NYSE:EPAM) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,000 shares of the information technology services provider’s stock, valued at approximately $935,000.

Several other large investors have also added to or reduced their stakes in the stock. Ieq Capital LLC boosted its position in EPAM Systems by 189.5% during the 4th quarter. Ieq Capital LLC now owns 15,848 shares of the information technology services provider’s stock valued at $3,706,000 after acquiring an additional 10,373 shares in the last quarter. Alberta Investment Management Corp purchased a new position in shares of EPAM Systems in the 4th quarter valued at approximately $2,132,000. Kestra Investment Management LLC boosted its position in shares of EPAM Systems by 64.1% during the fourth quarter. Kestra Investment Management LLC now owns 2,071 shares of the information technology services provider’s stock valued at $484,000 after purchasing an additional 809 shares in the last quarter. Atria Wealth Solutions Inc. grew its stake in EPAM Systems by 38.4% in the fourth quarter. Atria Wealth Solutions Inc. now owns 1,889 shares of the information technology services provider’s stock worth $442,000 after purchasing an additional 524 shares during the period. Finally, CIBC Asset Management Inc raised its holdings in EPAM Systems by 4.2% in the fourth quarter. CIBC Asset Management Inc now owns 8,675 shares of the information technology services provider’s stock worth $2,028,000 after purchasing an additional 348 shares in the last quarter. Institutional investors own 91.58% of the company’s stock.

EPAM Systems Price Performance

EPAM opened at $225.11 on Friday. The company’s 50-day simple moving average is $244.27 and its two-hundred day simple moving average is $222.18. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 4.56. The stock has a market capitalization of $12.77 billion, a P/E ratio of 29.23, a P/E/G ratio of 3.92 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 issued its quarterly earnings data 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). EPAM Systems had a net margin of 9.68% and a return on equity of 14.92%. As a group, analysts predict that EPAM Systems, Inc. will post 8.59 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Mizuho boosted their target price on shares of EPAM Systems from $245.00 to $282.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Piper Sandler boosted their price objective on shares of EPAM Systems from $225.00 to $258.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. The Goldman Sachs Group raised shares of EPAM Systems from a “neutral” rating to a “buy” rating and raised their target price for the company from $235.00 to $295.00 in a research note on Friday, December 6th. Needham & Company LLC reissued a “buy” rating and issued a $265.00 price target on shares of EPAM Systems in a research report on Thursday. Finally, Susquehanna raised their price objective on EPAM Systems from $240.00 to $270.00 and gave the company a “positive” rating in a research report on Friday, November 8th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $269.83.

Insider Transactions at EPAM Systems

In other EPAM Systems news, SVP Viktar Dvorkin sold 6,758 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $256.53, for a total value 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 trade represents a 34.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jason D. Peterson sold 1,078 shares of the business’s 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 sale, the chief financial officer now directly 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 disclosure for this sale can be found here. Insiders have sold a total of 8,300 shares of company stock worth $2,129,924 in the last ninety days. Insiders own 4.30% of the company’s stock.

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.