Citigroup Inc. Buys 115,720 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Citigroup Inc. grew its position in EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 199.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 173,721 shares of the information technology services provider's stock after purchasing an additional 115,720 shares during the quarter. Citigroup Inc. owned approximately 0.31% of EPAM Systems worth $34,576,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. ORG Partners LLC increased its position in EPAM Systems by 5,000.0% during the second quarter. ORG Partners LLC now owns 153 shares of the information technology services provider's stock worth $28,000 after acquiring an additional 150 shares during the period. Opal Wealth Advisors LLC bought a new position in EPAM Systems during the second quarter worth $29,000. Livforsakringsbolaget Skandia Omsesidigt increased its position in EPAM Systems by 181.8% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 155 shares of the information technology services provider's stock worth $31,000 after acquiring an additional 100 shares during the period. Farther Finance Advisors LLC increased its position in EPAM Systems by 101.0% during the third quarter. Farther Finance Advisors LLC now owns 211 shares of the information technology services provider's stock worth $42,000 after acquiring an additional 106 shares during the period. Finally, Capital Performance Advisors LLP bought a new position in EPAM Systems during the third quarter worth $44,000. Institutional investors own 91.58% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Susquehanna boosted their target price on shares of EPAM Systems from $240.00 to $270.00 and gave the stock a "positive" rating in a research report on Friday, November 8th. StockNews.com upgraded shares of EPAM Systems from a "hold" rating to a "buy" rating in a research note on Friday, November 15th. Scotiabank upgraded shares of EPAM Systems from a "sector perform" rating to a "sector outperform" rating and lifted their price target for the stock from $245.00 to $275.00 in a research note on Monday, November 11th. Piper Sandler lifted their price target on shares of EPAM Systems from $225.00 to $258.00 and gave the stock an "overweight" rating in a research note on Thursday, November 7th. Finally, Mizuho boosted their price target on shares of EPAM Systems from $245.00 to $282.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $264.20.

Insiders Place Their Bets

In other EPAM Systems news, CFO Jason D. Peterson sold 1,000 shares of EPAM Systems stock in a transaction on Thursday, November 7th. The shares were 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 owns 24,836 shares of the company's stock, valued at approximately $5,886,132. The trade was a 3.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.30% of the company's stock.

EPAM Systems Trading Down 0.2 %

EPAM traded down $0.51 during trading on Tuesday, reaching $248.65. 581,066 shares of the company's stock were exchanged, compared to its average volume of 622,516. The company's fifty day moving average price is $207.37 and its 200-day moving average price is $198.03. 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 fifty-two week low of $169.43 and a fifty-two week high of $317.50. The firm has a market capitalization of $14.10 billion, a PE ratio of 32.01, a P/E/G ratio of 3.75 and a beta of 1.46.

EPAM Systems declared that its Board of Directors has authorized a share repurchase program on Thursday, August 8th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the information technology services provider to repurchase up to 4.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership 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.