Principal Financial Group Inc. Reduces Holdings in EPAM Systems, Inc. (NYSE:EPAM)


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Principal Financial Group Inc. trimmed its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM) by 3.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,483 shares of the information technology services provider’s stock after selling 230 shares during the period. Principal Financial Group Inc.’s holdings in EPAM Systems were worth $2,323,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. increased its stake in shares of EPAM Systems by 5.1% during the 4th quarter. BlackRock Inc. now owns 3,318,517 shares of the information technology services provider’s stock worth $1,189,191,000 after purchasing an additional 159,798 shares in the last quarter. Wells Fargo & Company MN boosted its position in EPAM Systems by 4.0% during the fourth quarter. Wells Fargo & Company MN now owns 563,059 shares of the information technology services provider’s stock worth $201,772,000 after acquiring an additional 21,418 shares during the last quarter. Martin Currie Ltd. boosted its position in EPAM Systems by 31.4% during the fourth quarter. Martin Currie Ltd. now owns 440,288 shares of the information technology services provider’s stock worth $157,777,000 after acquiring an additional 105,125 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in EPAM Systems by 220.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 300,872 shares of the information technology services provider’s stock worth $107,817,000 after acquiring an additional 206,985 shares during the last quarter. Finally, Bamco Inc. NY boosted its position in EPAM Systems by 39.8% during the fourth quarter. Bamco Inc. NY now owns 255,266 shares of the information technology services provider’s stock worth $91,475,000 after acquiring an additional 72,614 shares during the last quarter. 91.96% of the stock is owned by institutional investors and hedge funds.

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 shares were sold at an average price of $376.01, for a total transaction of $1,323,931.21. Insiders own 4.80% of the company’s stock.

A number of equities analysts have weighed in on EPAM shares. Barclays lifted their price target on shares of EPAM Systems from $377.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, March 1st. VTB Capital reiterated a “hold” rating and issued a $425.00 price target on shares of EPAM Systems in a report on Monday. Piper Sandler lifted their price target on shares of EPAM Systems from $404.00 to $442.00 and gave the company an “overweight” rating in a report 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. Finally, Wells Fargo & Company raised their target price on shares of EPAM Systems from $395.00 to $440.00 and gave the company an “overweight” rating in a research note on Thursday, February 25th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. EPAM Systems presently has a consensus rating of “Buy” and an average target price of $381.08.

EPAM opened at $448.52 on Friday. The company has a 50-day moving average of $393.84 and a 200-day moving average of $358.39. The company has a market capitalization of $25.20 billion, a P/E ratio of 82.60, a PEG ratio of 2.97 and a beta of 1.35. EPAM Systems, Inc. has a 1-year low of $195.39 and a 1-year high of $454.48. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.22 and a current ratio of 4.22.

EPAM Systems (NYSE:EPAM) last posted its quarterly earnings results on Wednesday, February 17th. The information technology services provider reported $1.81 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.37. EPAM Systems had a net margin of 12.31% and a return on equity of 18.29%. The business had revenue of $723.49 million during the quarter, compared to analyst estimates of $702.22 million. As a group, sell-side analysts expect that EPAM Systems, Inc. will post 5.27 earnings per share for the current fiscal year.

EPAM Systems Profile

EPAM Systems, Inc provides digital platform engineering and software development services in North America, Europe, Russia, Belarus, Kazakhstan, Ukraine, Georgia, East Asia, Southeast 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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