EPAM Systems, Inc. (NYSE:EPAM) Shares Acquired by MAI Capital Management

MAI Capital Management raised its holdings in EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 10.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 40,126 shares of the information technology services provider's stock after buying an additional 3,750 shares during the quarter. MAI Capital Management owned about 0.07% of EPAM Systems worth $7,986,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its stake in EPAM Systems by 14,325.2% in the 2nd quarter. Pacer Advisors Inc. now owns 657,070 shares of the information technology services provider's stock worth $123,601,000 after purchasing an additional 652,515 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of EPAM Systems during the second quarter worth $84,850,000. TD Asset Management Inc grew its holdings in shares of EPAM Systems by 80.0% during the second quarter. TD Asset Management Inc now owns 595,486 shares of the information technology services provider's stock valued at $112,017,000 after buying an additional 264,570 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of EPAM Systems by 47,294.2% in the 2nd quarter. Acadian Asset Management LLC now owns 189,103 shares of the information technology services provider's stock valued at $35,560,000 after acquiring an additional 188,704 shares during the period. Finally, Epoch Investment Partners Inc. increased its position in shares of EPAM Systems by 97.7% in the 2nd quarter. Epoch Investment Partners Inc. now owns 338,667 shares of the information technology services provider's stock valued at $63,707,000 after acquiring an additional 167,343 shares during the period. Institutional investors and hedge funds own 91.58% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on EPAM shares. Barclays boosted their price target 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. Scotiabank upgraded shares of EPAM Systems from a "sector perform" rating to a "sector outperform" rating and increased their price target for the stock from $245.00 to $275.00 in a report on Monday, November 11th. Deutsche Bank Aktiengesellschaft began coverage on shares of EPAM Systems in a research note on Thursday, August 22nd. They issued a "hold" rating and a $204.00 price objective on the stock. StockNews.com upgraded shares of EPAM Systems from a "hold" rating to a "buy" rating in a research report on Friday. Finally, Itau BBA Securities upgraded EPAM Systems from a "market perform" rating to an "outperform" rating and set a $269.00 price objective for the company in a research note on Friday, November 8th. Eight research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $264.20.

EPAM Systems Trading Down 2.5 %

Shares of EPAM stock traded down $5.80 during trading hours on Tuesday, hitting $227.60. The company had a trading volume of 500,721 shares, compared to its average volume of 623,003. 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 debt-to-equity ratio of 0.01, a current ratio of 4.56 and a quick ratio of 4.56. The company's fifty day moving average is $203.74 and its 200 day moving average is $197.81. The stock has a market capitalization of $12.91 billion, a PE ratio of 30.31, a price-to-earnings-growth ratio of 3.60 and a beta of 1.46.

EPAM Systems announced that its board has authorized a share 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 stock through open market purchases. Stock repurchase plans are usually an indication that the company's board of directors believes its shares are undervalued.

Insider Activity at EPAM Systems

In related news, CFO Jason D. Peterson sold 1,000 shares of the business's stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 24,836 shares of the company's stock, valued at $5,886,132. The trade was a 3.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 4.30% of the company's stock.

About EPAM Systems

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.