Chicago Equity Partners LLC Acquires New Stake in EPAM Systems Inc (EPAM)

Chicago Equity Partners LLC acquired a new position in EPAM Systems Inc (NYSE:EPAM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,100 shares of the information technology services provider’s stock, valued at approximately $978,000.

A number of other institutional investors also recently added to or reduced their stakes in EPAM. PNC Financial Services Group Inc. boosted its position in EPAM Systems by 34.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,462 shares of the information technology services provider’s stock worth $123,000 after purchasing an additional 378 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in EPAM Systems by 9.8% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 24,692 shares of the information technology services provider’s stock worth $2,076,000 after purchasing an additional 2,197 shares in the last quarter. Parametric Portfolio Associates LLC boosted its position in EPAM Systems by 114.7% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 43,348 shares of the information technology services provider’s stock worth $3,645,000 after purchasing an additional 23,162 shares in the last quarter. Virtu KCG Holdings LLC purchased a new stake in EPAM Systems in the 2nd quarter worth approximately $332,000. Finally, OxFORD Asset Management LLP purchased a new stake in EPAM Systems in the 2nd quarter worth approximately $356,000. Institutional investors and hedge funds own 89.27% of the company’s stock.

In related news, CEO Arkadiy Dobkin sold 75,000 shares of the stock in a transaction on Monday, November 13th. The stock was sold at an average price of $101.64, for a total value of $7,623,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronald P. Vargo sold 4,000 shares of the stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $101.32, for a total value of $405,280.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 98,600 shares of company stock valued at $10,051,196. 6.17% of the stock is owned by corporate insiders.

EPAM Systems Inc (NYSE EPAM) opened at $104.87 on Friday. EPAM Systems Inc has a 52 week low of $64.67 and a 52 week high of $119.18. The company has a quick ratio of 5.56, a current ratio of 5.56 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $5,510.00, a price-to-earnings ratio of 44.44, a P/E/G ratio of 1.68 and a beta of 0.93.

Several research analysts have recently weighed in on EPAM shares. Zacks Investment Research downgraded EPAM Systems from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. Cowen set a $115.00 target price on EPAM Systems and gave the stock a “buy” rating in a research note on Monday, December 11th. Pivotal Research started coverage on EPAM Systems in a research note on Tuesday, December 5th. They set a “buy” rating and a $120.00 target price for the company. UBS Group downgraded EPAM Systems from a “buy” rating to a “neutral” rating and upped their target price for the stock from $105.00 to $110.00 in a research note on Wednesday, November 29th. Finally, Bank of America upped their target price on EPAM Systems from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, November 6th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $102.87.

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EPAM Systems Company Profile

EPAM Systems, Inc is a g provider of software product development and digital platform engineering services to clients located primarily in North America, Europe, Asia and Australia. The Company’s service offerings cover the full software product development lifecycle from digital strategy and customer experience design to enterprise application platforms implementation and program management services and from complex software development services to maintenance, support, custom application development, application testing, and infrastructure management.

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

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