Entropy Technologies LP Sells 3,900 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Entropy Technologies LP reduced its holdings in EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 75.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,301 shares of the information technology services provider's stock after selling 3,900 shares during the quarter. Entropy Technologies LP's holdings in EPAM Systems were worth $259,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. ORG Partners LLC lifted its holdings in EPAM Systems by 5,000.0% in the 2nd quarter. ORG Partners LLC now owns 153 shares of the information technology services provider's stock valued at $28,000 after purchasing an additional 150 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of EPAM Systems during the 2nd quarter worth about $29,000. Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of EPAM Systems by 181.8% in 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 in the last quarter. Farther Finance Advisors LLC raised its position in EPAM Systems by 101.0% in the third quarter. Farther Finance Advisors LLC now owns 211 shares of the information technology services provider's stock valued at $42,000 after purchasing an additional 106 shares during the period. Finally, Capital Performance Advisors LLP purchased a new stake in shares of EPAM Systems in the third quarter worth about $44,000. Institutional investors and hedge funds own 91.58% of the company's stock.

EPAM Systems Stock Down 3.9 %

Shares of EPAM Systems stock traded down $9.57 on Friday, hitting $235.29. 851,851 shares of the company traded hands, compared to its average volume of 628,540. The company has a quick ratio of 4.56, a current ratio of 4.56 and a debt-to-equity ratio of 0.01. EPAM Systems, Inc. has a 12-month low of $169.43 and a 12-month high of $317.50. The company has a 50-day moving average price of $203.19 and a 200 day moving average price of $197.84. The company has a market cap of $13.35 billion, a PE ratio of 30.56, a PEG ratio of 3.60 and a beta of 1.46.

EPAM Systems announced that its Board of Directors has initiated a stock buyback plan on Thursday, August 8th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to purchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Scotiabank upgraded EPAM Systems from a "sector perform" rating to a "sector outperform" rating and upped their price target for the stock from $245.00 to $275.00 in a report on Monday, November 11th. Itau BBA Securities upgraded shares of EPAM Systems from a "market perform" rating to an "outperform" rating and set a $269.00 price objective on the stock in a report on Friday, November 8th. JPMorgan Chase & Co. lifted their target price on EPAM Systems from $222.00 to $262.00 and gave the stock an "overweight" rating in a research report on Friday, September 6th. StockNews.com upgraded shares of EPAM Systems from a "hold" rating to a "buy" rating in a research note on Friday. Finally, 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 report on Friday, November 8th. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $264.20.

Insiders Place Their Bets

In other EPAM Systems news, CFO Jason D. Peterson sold 1,000 shares of the 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 $5,886,132. This trade represents a 3.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 4.30% of the company's stock.

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.