Manning & Napier Advisors LLC Has $155.32 Million Stock Position in EPAM Systems, Inc. (NYSE:EPAM)

Manning & Napier Advisors LLC grew its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 48.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 664,286 shares of the information technology services provider’s stock after acquiring an additional 217,960 shares during the quarter. EPAM Systems accounts for 1.8% of Manning & Napier Advisors LLC’s holdings, making the stock its 14th biggest position. Manning & Napier Advisors LLC owned approximately 1.17% of EPAM Systems worth $155,323,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of EPAM. Charles Schwab Investment Management Inc. raised its stake in EPAM Systems by 45.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 515,351 shares of the information technology services provider’s stock valued at $102,570,000 after acquiring an additional 160,989 shares during the period. Massachusetts Financial Services Co. MA raised its stake in EPAM Systems by 643.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 417,526 shares of the information technology services provider’s stock valued at $83,100,000 after acquiring an additional 361,363 shares during the period. Assenagon Asset Management S.A. raised its stake in EPAM Systems by 10.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 346,201 shares of the information technology services provider’s stock valued at $80,949,000 after acquiring an additional 33,715 shares during the period. Jacobs Levy Equity Management Inc. increased its position in EPAM Systems by 3.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 308,498 shares of the information technology services provider’s stock worth $61,400,000 after buying an additional 8,959 shares during the period. Finally, Wellington Management Group LLP increased its position in EPAM Systems by 8.5% during the 3rd quarter. Wellington Management Group LLP now owns 214,294 shares of the information technology services provider’s stock worth $42,651,000 after buying an additional 16,757 shares during the period. Institutional investors and hedge funds own 91.58% of the company’s stock.

Analysts Set New Price Targets

EPAM has been the topic of several recent research reports. Scotiabank upgraded EPAM Systems from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the stock from $245.00 to $275.00 in a research report on Monday, November 11th. Susquehanna increased their price objective on EPAM Systems from $240.00 to $270.00 and gave the stock a “positive” rating in a research report on Friday, November 8th. Jefferies Financial Group lowered their price objective on EPAM Systems from $305.00 to $288.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Barclays upgraded EPAM Systems from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $250.00 to $290.00 in a research report on Tuesday, December 17th. Finally, StockNews.com upgraded EPAM Systems from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $269.84.

Insider Transactions at EPAM Systems

In other EPAM Systems news, SVP Viktar Dvorkin sold 6,758 shares of EPAM Systems stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $256.53, for a total value of $1,733,629.74. Following the completion of the sale, the senior vice president now directly owns 13,000 shares in the company, valued at approximately $3,334,890. The trade was a 34.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Jason D. Peterson sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $237.00, for a total value of $237,000.00. Following the sale, the chief financial officer now owns 24,836 shares of the company’s stock, valued at approximately $5,886,132. This represents a 3.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,222 shares of company stock worth $2,089,878 over the last ninety days. 4.30% of the stock is owned by insiders.

EPAM Systems Trading Down 2.2 %

Shares of EPAM traded down $5.70 during mid-day trading on Wednesday, reaching $249.44. 22,077 shares of the company were exchanged, compared to its average volume of 499,755. EPAM Systems, Inc. has a 52 week low of $169.43 and a 52 week high of $317.50. 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 $14.15 billion, a PE ratio of 32.47, a PEG ratio of 3.48 and a beta of 1.50. The business has a 50 day simple moving average of $240.01 and a two-hundred day simple moving average of $216.64.

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.