Empowered Funds LLC Acquires New Position in EPAM Systems, Inc. (NYSE:EPAM)

Empowered Funds LLC purchased a new stake in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 37,870 shares of the information technology services provider's stock, valued at approximately $7,537,000. Empowered Funds LLC owned approximately 0.07% of EPAM Systems at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Janney Montgomery Scott LLC acquired a new position in shares of EPAM Systems in the first quarter valued at about $272,000. Avantax Advisory Services Inc. boosted its position in EPAM Systems by 9.2% in the first quarter. Avantax Advisory Services Inc. now owns 1,701 shares of the information technology services provider's stock valued at $470,000 after buying an additional 143 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in EPAM Systems by 17.8% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,790 shares of the information technology services provider's stock worth $770,000 after buying an additional 422 shares during the period. Blair William & Co. IL raised its position in EPAM Systems by 26.9% during the 1st quarter. Blair William & Co. IL now owns 14,457 shares of the information technology services provider's stock worth $3,992,000 after buying an additional 3,067 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in EPAM Systems by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 6,865,123 shares of the information technology services provider's stock valued at $1,895,872,000 after acquiring an additional 39,531 shares during the period. Hedge funds and other institutional investors own 91.58% of the company's stock.

EPAM Systems Price Performance

Shares of NYSE EPAM traded down $9.57 during trading on Friday, hitting $235.29. The company had a trading volume of 851,851 shares, compared to its average volume of 628,540. EPAM Systems, Inc. has a fifty-two week low of $169.43 and a fifty-two week high of $317.50. The company has a quick ratio of 4.56, a current ratio of 4.56 and a debt-to-equity ratio of 0.01. The stock has a fifty day simple moving average of $203.19 and a two-hundred day simple moving average of $197.84. The firm has a market capitalization of $13.35 billion, a price-to-earnings ratio of 30.56, a price-to-earnings-growth ratio of 3.60 and a beta of 1.46.

EPAM Systems declared that its board has approved a stock buyback 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 shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on EPAM. Susquehanna raised their target price on shares of EPAM Systems from $240.00 to $270.00 and gave the stock a "positive" rating in a report on Friday, November 8th. Barclays lifted their price objective on EPAM Systems from $200.00 to $225.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 23rd. Needham & Company LLC upped their target price on EPAM Systems from $215.00 to $265.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Piper Sandler lifted their price target on EPAM Systems from $225.00 to $258.00 and gave the company an "overweight" rating in a research report on Thursday, November 7th. Finally, 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. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, EPAM Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $264.20.

Insider Buying and Selling

In other news, CFO Jason D. Peterson sold 1,000 shares of the firm's stock in a transaction that occurred on 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 trade represents a 3.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.30% of the stock is currently owned by insiders.

EPAM Systems 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.