Atom Investors LP Invests $947,000 in EPAM Systems, Inc. (NYSE:EPAM)

Atom Investors LP bought a new stake in EPAM Systems, Inc. (NYSE:EPAM - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,759 shares of the information technology services provider's stock, valued at approximately $947,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ORG Partners LLC raised its holdings in shares of EPAM Systems by 5,000.0% during the 2nd quarter. ORG Partners LLC now owns 153 shares of the information technology services provider's stock valued at $28,000 after buying an additional 150 shares during the period. Opal Wealth Advisors LLC purchased a new stake in EPAM Systems during the 2nd quarter worth approximately $29,000. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in EPAM Systems by 181.8% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 155 shares of the information technology services provider's stock worth $31,000 after purchasing an additional 100 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in EPAM Systems by 101.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 211 shares of the information technology services provider's stock worth $42,000 after purchasing an additional 106 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in EPAM Systems during the 3rd quarter worth approximately $44,000. Institutional investors and hedge funds own 91.58% of the company's stock.

EPAM Systems Stock Up 0.6 %

Shares of EPAM traded up $1.40 during trading hours on Wednesday, hitting $241.91. 933,588 shares of the company were exchanged, compared to its average volume of 621,788. The company has a market cap of $13.72 billion, a PE ratio of 31.36, a PEG ratio of 3.73 and a beta of 1.49. The firm's 50 day moving average is $212.90 and its 200-day moving average is $200.42. 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.

EPAM Systems declared that its Board of Directors has approved a share buyback plan on Thursday, August 8th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Citigroup boosted their price target on EPAM Systems from $207.00 to $210.00 and gave the company a "neutral" rating in a report on Monday, October 28th. Needham & Company LLC boosted their price objective on EPAM Systems from $215.00 to $265.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Itau BBA Securities upgraded EPAM Systems from a "market perform" rating to an "outperform" rating and set a $269.00 price objective for the company in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft started coverage on EPAM Systems in a research report on Thursday, August 22nd. They set a "hold" rating and a $204.00 price objective for the company. Finally, Jefferies Financial Group boosted their price objective on EPAM Systems from $237.00 to $250.00 and gave the company a "buy" rating in a research report on Monday, September 9th. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company 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 the firm's stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 24,836 shares of the company's stock, valued at $5,886,132. This trade represents a 3.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.30% of the stock is owned by corporate insiders.

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.