Norges Bank acquired a new stake in EPAM Systems, Inc. (NYSE:EPAM) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 545,769 shares of the information technology services provider’s stock, valued at approximately $195,576,000.

Several other hedge funds have also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership bought a new position in shares of EPAM Systems during the third quarter valued at approximately $938,000. Great West Life Assurance Co. Can grew its position in shares of EPAM Systems by 4,526.2% during the 3rd quarter. Great West Life Assurance Co. Can now owns 1,138,312 shares of the information technology services provider’s stock valued at $716,000 after acquiring an additional 1,113,706 shares during the period. Boothbay Fund Management LLC purchased a new position in EPAM Systems in the 3rd quarter valued at about $262,000. Squarepoint Ops LLC increased its holdings in EPAM Systems by 2.9% in the 3rd quarter. Squarepoint Ops LLC now owns 9,121 shares of the information technology services provider’s stock valued at $2,949,000 after purchasing an additional 254 shares during the last quarter. Finally, Captrust Financial Advisors grew its stake in shares of EPAM Systems by 28.5% in the third quarter. Captrust Financial Advisors now owns 361 shares of the information technology services provider’s stock worth $121,000 after acquiring an additional 80 shares in the last quarter. 91.96% of the stock is currently owned by hedge funds and other institutional investors.

In other EPAM Systems news, CFO Jason D. Peterson sold 3,521 shares of the business’s stock in a transaction dated Monday, March 1st. The stock was sold at an average price of $376.01, for a total transaction of $1,323,931.21. Also, SVP Boris Shnayder sold 1,250 shares of the business’s stock in a transaction dated Friday, January 15th. The shares were sold at an average price of $347.05, for a total value of $433,812.50. Following the sale, the senior vice president now directly owns 6,303 shares of the company’s stock, valued at approximately $2,187,456.15. The disclosure for this sale can be found here. Insiders sold 10,871 shares of company stock valued at $3,957,835 in the last 90 days. Company insiders own 4.80% of the company’s stock.

Shares of NYSE:EPAM opened at $410.36 on Thursday. The firm has a market capitalization of $23.05 billion, a price-to-earnings ratio of 75.57, a PEG ratio of 2.97 and a beta of 1.35. The stock’s 50 day moving average is $376.60 and its 200-day moving average is $350.03. EPAM Systems, Inc. has a twelve month low of $183.51 and a twelve month high of $413.05. The company has a quick ratio of 4.22, a current ratio of 4.22 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAM) last issued its earnings results on Wednesday, February 17th. The information technology services provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.44 by $0.37. The business had revenue of $723.49 million during the quarter, compared to the consensus estimate of $702.22 million. EPAM Systems had a return on equity of 18.29% and a net margin of 12.31%. Equities research analysts anticipate that EPAM Systems, Inc. will post 5.27 earnings per share for the current fiscal year.

A number of research analysts have recently issued reports on the stock. Citigroup boosted their price target on shares of EPAM Systems from $415.00 to $440.00 in a research note on Friday, February 19th. Morgan Stanley lifted their price target on shares of EPAM Systems from $433.00 to $450.00 and gave the company an “overweight” rating in a report on Thursday, February 25th. VTB Capital upgraded shares of EPAM Systems from a “hold” rating to a “buy” rating in a report on Tuesday, March 9th. Barclays boosted their price objective on shares of EPAM Systems from $377.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, March 1st. Finally, Piper Sandler boosted their price objective on shares of EPAM Systems from $404.00 to $442.00 and gave the company an “overweight” rating in a research report on Friday, February 19th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $363.31.

EPAM Systems Profile

EPAM Systems, Inc provides digital platform engineering and software development services in North America, Europe, Armenia, Belarus, Kazakhstan, Russia, Ukraine, Asia, and Australia. 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, and maintenance with private, public, and mobile infrastructures for application, database, network, server, storage, and systems operations management, as well as monitoring, incident notification, and resolution services; and maintenance and support services.

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Institutional Ownership by Quarter for EPAM Systems (NYSE:EPAM)

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