Edgestream Partners L.P. Has $2.93 Million Stock Position in EPAM Systems, Inc. (NYSE:EPAM)

Edgestream Partners L.P. raised its stake in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 108.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,731 shares of the information technology services provider's stock after acquiring an additional 7,679 shares during the period. Edgestream Partners L.P.'s holdings in EPAM Systems were worth $2,932,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Verition Fund Management LLC increased its stake in EPAM Systems by 784.7% during the third quarter. Verition Fund Management LLC now owns 17,950 shares of the information technology services provider's stock worth $3,573,000 after acquiring an additional 15,921 shares during the last quarter. Captrust Financial Advisors boosted its stake in shares of EPAM Systems by 70.5% during the 3rd quarter. Captrust Financial Advisors now owns 6,677 shares of the information technology services provider's stock worth $1,329,000 after acquiring an additional 2,760 shares in the last quarter. Public Sector Pension Investment Board boosted its position in shares of EPAM Systems by 4.5% in the third quarter. Public Sector Pension Investment Board now owns 2,326 shares of the information technology services provider's stock worth $463,000 after buying an additional 100 shares during the period. Glenmede Trust Co. NA boosted its position in shares of EPAM Systems by 31.4% in the third quarter. Glenmede Trust Co. NA now owns 13,036 shares of the information technology services provider's stock worth $2,595,000 after buying an additional 3,112 shares during the period. Finally, Townsquare Capital LLC purchased a new stake in shares of EPAM Systems during the third quarter worth $6,435,000. Institutional investors and hedge funds own 91.58% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on EPAM. Citigroup lifted their target price on EPAM Systems from $207.00 to $210.00 and gave the stock a "neutral" rating in a research report on Monday, October 28th. Mizuho boosted their price target on shares of EPAM Systems from $245.00 to $282.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 13th. Piper Sandler raised their price target on EPAM Systems from $225.00 to $258.00 and gave the company an "overweight" rating in a report on Thursday, November 7th. Itau BBA Securities raised shares of EPAM Systems from a "market perform" rating to an "outperform" rating and set a $269.00 price objective for the company in a report on Friday, November 8th. Finally, Scotiabank upgraded shares of EPAM Systems from a "sector perform" rating to a "sector outperform" rating and upped their price objective for the stock from $245.00 to $275.00 in a research report on Monday, November 11th. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, EPAM Systems presently has an average rating of "Moderate Buy" and an average price target of $264.20.

Insider Buying and Selling

In other news, CFO Jason D. Peterson sold 1,000 shares of the company's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $237.00, for a total value of $237,000.00. Following the transaction, the chief financial officer now owns 24,836 shares in the company, valued at $5,886,132. This represents a 3.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.30% of the stock is owned by company insiders.

EPAM Systems Trading Down 0.1 %

EPAM stock traded down $0.13 during midday trading on Monday, hitting $243.79. The stock had a trading volume of 694,924 shares, compared to its average volume of 620,527. The firm has a market cap of $13.83 billion, a PE ratio of 31.71, a price-to-earnings-growth ratio of 3.73 and a beta of 1.46. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.56 and a quick ratio of 4.56. The company's 50-day moving average price is $211.19 and its 200 day moving average price is $199.67. EPAM Systems, Inc. has a 12-month low of $169.43 and a 12-month high of $317.50.

EPAM Systems declared that its Board of Directors has approved a share repurchase plan on Thursday, August 8th that permits the company to repurchase $500.00 million in 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 usually a sign that the company's management 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.