Atria Investments Inc Increases Stock Position in EPAM Systems, Inc. (NYSE:EPAM)

Atria Investments Inc boosted its stake in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 139.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,048 shares of the information technology services provider's stock after acquiring an additional 2,356 shares during the quarter. Atria Investments Inc's holdings in EPAM Systems were worth $806,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of EPAM. Janney Montgomery Scott LLC acquired a new stake in shares of EPAM Systems during the 1st quarter valued at about $272,000. Empowered Funds LLC acquired a new stake in EPAM Systems in the first quarter valued at approximately $220,000. Avantax Advisory Services Inc. increased its position in shares of 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 in the last quarter. Vanguard Group Inc. raised its stake in shares of 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 worth $1,895,872,000 after buying an additional 39,531 shares during the period. Finally, Acadian Asset Management LLC lifted its position in shares of EPAM Systems by 238.1% during the 1st quarter. Acadian Asset Management LLC now owns 399 shares of the information technology services provider's stock valued at $109,000 after buying an additional 281 shares in the last quarter. 91.58% of the stock is owned by institutional investors and hedge funds.

Insider Activity at EPAM Systems

In other EPAM Systems news, CFO Jason D. Peterson sold 1,000 shares of the 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 sale, the chief financial officer now 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 Securities & Exchange Commission, which is available at this link. 4.30% of the stock is currently owned by company insiders.

EPAM Systems Trading Down 2.3 %

Shares of EPAM traded down $5.38 during midday trading on Tuesday, hitting $228.02. 198,238 shares of the stock were exchanged, compared to its average volume of 621,652. 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. The stock has a fifty day simple moving average of $203.74 and a 200 day simple moving average of $197.81. The firm has a market cap of $12.93 billion, a P/E ratio of 30.31, a P/E/G ratio of 3.60 and a beta of 1.46.

EPAM Systems declared that its Board of Directors has initiated a stock 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 reacquire up to 4.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

EPAM has been the topic of several recent analyst reports. Barclays increased their price objective on shares of EPAM Systems from $200.00 to $225.00 and gave the company an "equal weight" rating in a report on Tuesday, July 23rd. Itau BBA Securities upgraded 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. Piper Sandler raised their target price on EPAM Systems from $225.00 to $258.00 and gave the company an "overweight" rating in a research report on Thursday, November 7th. Scotiabank upgraded EPAM Systems from a "sector perform" rating to a "sector outperform" rating and boosted their price target for the stock from $245.00 to $275.00 in a research report on Monday, November 11th. Finally, Citigroup raised their price objective on EPAM Systems from $207.00 to $210.00 and gave the company a "neutral" rating in a report on Monday, October 28th. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, EPAM Systems has an average rating of "Moderate Buy" and an average price target of $264.20.

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.