CIBC Asset Management Inc purchased a new stake in shares of EPAM Systems (NYSE:EPAM) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,756 shares of the information technology services provider’s stock, valued at approximately $201,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of Montreal Can boosted its holdings in shares of EPAM Systems by 113.9% during the 4th quarter. Bank of Montreal Can now owns 1,773 shares of the information technology services provider’s stock valued at $190,000 after acquiring an additional 944 shares during the last quarter. Alps Advisors Inc. purchased a new position in shares of EPAM Systems in the first quarter worth approximately $207,000. Wesbanco Bank Inc. purchased a new position in shares of EPAM Systems in the fourth quarter worth approximately $204,000. Comerica Bank purchased a new position in shares of EPAM Systems in the fourth quarter worth approximately $225,000. Finally, Two Sigma Investments LP purchased a new position in shares of EPAM Systems in the fourth quarter worth approximately $215,000. 90.18% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of EPAM Systems from a “buy” rating to a “hold” rating in a report on Wednesday, May 9th. Berenberg Bank raised their price objective on shares of EPAM Systems to $145.00 in a report on Thursday, May 10th. They noted that the move was a valuation call. JPMorgan Chase reissued an “overweight” rating and issued a $130.00 price objective (up previously from $118.00) on shares of EPAM Systems in a report on Friday, March 16th. Needham & Company LLC reissued a “buy” rating and issued a $135.00 price objective (up previously from $130.00) on shares of EPAM Systems in a report on Monday, March 19th. Finally, SunTrust Banks assumed coverage on shares of EPAM Systems in a report on Thursday, April 19th. They issued a “buy” rating and a $130.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. EPAM Systems presently has a consensus rating of “Buy” and a consensus price target of $123.38.

Shares of EPAM Systems opened at $123.54 on Thursday, Marketbeat reports. The company has a current ratio of 5.39, a quick ratio of 5.39 and a debt-to-equity ratio of 0.02. EPAM Systems has a 1-year low of $124.56 and a 1-year high of $125.06. The company has a market cap of $6.71 billion, a price-to-earnings ratio of 43.35, a PEG ratio of 1.93 and a beta of 0.94.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings results on Wednesday, May 9th. The information technology services provider reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.02. EPAM Systems had a net margin of 7.33% and a return on equity of 17.45%. The business had revenue of $424.15 million for the quarter, compared to the consensus estimate of $414.15 million. During the same quarter in the previous year, the firm earned $0.72 earnings per share. The company’s revenue for the quarter was up 30.6% on a year-over-year basis. equities research analysts predict that EPAM Systems will post 3.28 EPS for the current fiscal year.

In other news, CFO Jason D. Peterson sold 3,120 shares of EPAM Systems stock in a transaction that occurred on Friday, May 11th. The shares were sold at an average price of $129.78, for a total transaction of $404,913.60. Following the sale, the chief financial officer now owns 10,627 shares in the company, valued at $1,379,172.06. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Richard Michael Mayoras sold 2,500 shares of EPAM Systems stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $114.72, for a total transaction of $286,800.00. The disclosure for this sale can be found here. 5.30% of the stock is owned by insiders.

About EPAM Systems

EPAM Systems, Inc provides software product development and digital platform engineering services primarily in North America, Europe, Asia, and Australia. It offers software product development services, including product research, customer experience design, prototyping, program management, component design and integration, lifecycle software testing, product deployment, end-user customization, performance tuning, product support and maintenance, managed services, and porting and cross-platform migration.

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

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