Oppenheimer Asset Management Inc. Makes New $8.20 Million Investment in EPAM Systems, Inc. (NYSE:EPAM)

Oppenheimer Asset Management Inc. acquired a new position in EPAM Systems, Inc. (NYSE:EPAM - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 41,176 shares of the information technology services provider's stock, valued at approximately $8,195,000. Oppenheimer Asset Management Inc. owned approximately 0.07% of EPAM Systems as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in EPAM. Geneva Capital Management LLC increased its position in shares of EPAM Systems by 6.0% in the third quarter. Geneva Capital Management LLC now owns 71,281 shares of the information technology services provider's stock valued at $14,187,000 after buying an additional 4,027 shares in the last quarter. Raymond James & Associates raised its stake in shares of EPAM Systems by 1,741.1% during the 3rd quarter. Raymond James & Associates now owns 36,694 shares of the information technology services provider's stock worth $7,303,000 after buying an additional 34,701 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in EPAM Systems by 251.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 19,128 shares of the information technology services provider's stock valued at $3,807,000 after purchasing an additional 13,690 shares in the last quarter. Diversified Trust Co acquired a new stake in shares of EPAM Systems during the second quarter worth $734,000. Finally, Vanguard Group Inc. increased its position in shares of EPAM Systems by 0.6% during the first quarter. Vanguard Group Inc. now owns 6,865,123 shares of the information technology services provider's stock worth $1,895,872,000 after acquiring an additional 39,531 shares during the last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EPAM has been the subject of several analyst reports. StockNews.com upgraded EPAM Systems from a "hold" rating to a "buy" rating in a research report on Friday. Mizuho upped their target price on shares of EPAM Systems from $245.00 to $282.00 and gave the company an "outperform" rating in a research report on Wednesday. Jefferies Financial Group increased their price objective on shares of EPAM Systems from $237.00 to $250.00 and gave the stock a "buy" rating in a research note on Monday, September 9th. Scotiabank raised shares of EPAM Systems from a "sector perform" rating to a "sector outperform" rating and raised their target price for the stock from $245.00 to $275.00 in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of EPAM Systems in a research report on Thursday, August 22nd. They issued a "hold" rating and a $204.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, EPAM Systems presently has a consensus rating of "Moderate Buy" and a consensus price target of $264.20.

Insider Activity at EPAM Systems

In related news, CFO Jason D. Peterson sold 1,000 shares of EPAM Systems stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $237.00, for a total transaction of $237,000.00. Following the transaction, the chief financial officer now owns 24,836 shares in the company, valued at approximately $5,886,132. This trade represents a 3.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 4.30% of the stock is owned by company insiders.

EPAM Systems Trading Down 3.1 %

Shares of NYSE:EPAM traded down $7.61 during trading on Friday, reaching $237.25. The stock had a trading volume of 326,974 shares, compared to its average volume of 621,481. The stock has a market cap of $13.46 billion, a price-to-earnings ratio of 31.80, a P/E/G ratio of 3.81 and a beta of 1.46. The firm's fifty day moving average is $202.58 and its 200 day moving average is $198.38. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 4.56. EPAM Systems, Inc. has a 52 week low of $169.43 and a 52 week high of $317.50.

EPAM Systems announced that its Board of Directors has authorized a share buyback program on Thursday, August 8th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the information technology services provider to purchase up to 4.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its stock is undervalued.

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.