Summit Global Investments Has $7.39 Million Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Summit Global Investments raised its stake in EPAM Systems, Inc. (NYSE:EPAM) by 1,167.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,592 shares of the information technology services provider’s stock after acquiring an additional 29,099 shares during the quarter. Summit Global Investments’ holdings in EPAM Systems were worth $7,387,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its position in EPAM Systems by 90.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 54 shares in the last quarter. TD Private Client Wealth LLC increased its position in EPAM Systems by 88.5% in the 4th quarter. TD Private Client Wealth LLC now owns 147 shares of the information technology services provider’s stock valued at $34,000 after acquiring an additional 69 shares in the last quarter. Versant Capital Management Inc acquired a new stake in EPAM Systems in the 4th quarter valued at about $35,000. Manchester Capital Management LLC increased its position in EPAM Systems by 590.0% in the 4th quarter. Manchester Capital Management LLC now owns 207 shares of the information technology services provider’s stock valued at $48,000 after acquiring an additional 177 shares in the last quarter. Finally, Continuum Advisory LLC increased its position in EPAM Systems by 5,240.0% in the 3rd quarter. Continuum Advisory LLC now owns 267 shares of the information technology services provider’s stock valued at $53,000 after acquiring an additional 262 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

EPAM Systems Stock Up 2.0 %

EPAM Systems stock opened at $175.64 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.96 and a quick ratio of 4.56. EPAM Systems, Inc. has a fifty-two week low of $169.43 and a fifty-two week high of $283.47. The company’s 50 day simple moving average is $226.19 and its 200 day simple moving average is $221.45. The firm has a market capitalization of $9.99 billion, a price-to-earnings ratio of 22.40, a PEG ratio of 3.38 and a beta of 1.61.

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 for the quarter, missing analysts’ consensus estimates of $2.75 by ($0.52). EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.21 billion. As a group, sell-side analysts anticipate that EPAM Systems, Inc. will post 8.9 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on EPAM shares. Needham & Company LLC reiterated a “buy” rating and set a $265.00 price target on shares of EPAM Systems in a research report on Thursday, February 20th. StockNews.com cut shares of EPAM Systems from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Barclays lowered their price target on shares of EPAM Systems from $290.00 to $270.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Scotiabank lowered their price target on shares of EPAM Systems from $275.00 to $250.00 and set a “sector outperform” rating for the company in a research report on Monday, February 24th. Finally, The Goldman Sachs Group upgraded shares of EPAM Systems from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $235.00 to $295.00 in a research report on Friday, December 6th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $262.47.

Insider Buying and Selling at EPAM Systems

In other EPAM Systems news, CFO Jason D. Peterson sold 1,078 shares of EPAM Systems 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 transaction, the chief financial officer now owns 23,382 shares of the company’s stock, valued at approximately $6,009,174. The trade was a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 4.30% of the company’s stock.

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.