Sumitomo Mitsui Trust Group Inc. Lowers Stake in EPAM Systems, Inc. (NYSE:EPAM)

Sumitomo Mitsui Trust Group Inc. reduced its stake in shares of EPAM Systems, Inc. (NYSE:EPAM) by 1.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 125,750 shares of the information technology services provider’s stock after selling 1,406 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in EPAM Systems were worth $29,403,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Lion Street Advisors LLC bought a new stake in shares of EPAM Systems in the fourth quarter valued at about $224,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of EPAM Systems by 28.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,136 shares of the information technology services provider’s stock valued at $1,460,000 after acquiring an additional 1,370 shares in the last quarter. Greenleaf Trust bought a new stake in shares of EPAM Systems in the fourth quarter valued at about $227,000. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of EPAM Systems by 10.8% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,127 shares of the information technology services provider’s stock valued at $497,000 after acquiring an additional 207 shares in the last quarter. Finally, Norris Perne & French LLP MI raised its holdings in shares of EPAM Systems by 69.0% in the fourth quarter. Norris Perne & French LLP MI now owns 113,735 shares of the information technology services provider’s stock valued at $26,594,000 after acquiring an additional 46,419 shares in the last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

EPAM Systems Price Performance

Shares of NYSE EPAM opened at $263.95 on Wednesday. The business’s 50 day moving average price is $242.67 and its 200 day moving average price is $220.06. The firm has a market cap of $14.97 billion, a P/E ratio of 34.28, a P/E/G ratio of 3.96 and a beta of 1.51. EPAM Systems, Inc. has a 52 week low of $169.43 and a 52 week high of $317.50. The company has a quick ratio of 4.56, a current ratio of 4.56 and a debt-to-equity ratio of 0.01.

Insider Activity at EPAM Systems

In other EPAM Systems news, CFO Jason D. Peterson sold 1,078 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $257.00, for a total value of $277,046.00. Following the sale, the chief financial officer now owns 23,382 shares in the company, valued at approximately $6,009,174. This represents a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Viktar Dvorkin sold 6,758 shares of the company’s 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 owns 13,000 shares in the company, valued at approximately $3,334,890. This represents a 34.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,300 shares of company stock worth $2,129,924 over the last quarter. Insiders own 4.30% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Susquehanna lifted their price objective on EPAM Systems from $240.00 to $270.00 and gave the company a “positive” rating in a report on Friday, November 8th. Mizuho lifted their price objective on EPAM Systems from $245.00 to $282.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Barclays upgraded EPAM Systems from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $250.00 to $290.00 in a report on Tuesday, December 17th. StockNews.com upgraded shares of EPAM Systems from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Finally, Piper Sandler boosted their target price on shares of EPAM Systems from $225.00 to $258.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $271.47.

EPAM Systems Company 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.