Amalgamated Bank Cuts Stake in EPAM Systems, Inc. (NYSE:EPAM)

Amalgamated Bank lessened its position in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 34.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 11,170 shares of the information technology services provider's stock after selling 5,886 shares during the quarter. Amalgamated Bank's holdings in EPAM Systems were worth $2,223,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Retirement Systems of Alabama grew its position in shares of EPAM Systems by 0.4% during the 2nd quarter. Retirement Systems of Alabama now owns 12,788 shares of the information technology services provider's stock worth $2,406,000 after buying an additional 52 shares during the period. Motley Fool Asset Management LLC raised its stake in shares of EPAM Systems by 5.2% during the 1st quarter. Motley Fool Asset Management LLC now owns 1,124 shares of the information technology services provider's stock worth $310,000 after purchasing an additional 56 shares during the period. Taylor Frigon Capital Management LLC raised its stake in shares of EPAM Systems by 0.5% during the 2nd quarter. Taylor Frigon Capital Management LLC now owns 12,339 shares of the information technology services provider's stock worth $2,321,000 after purchasing an additional 56 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of EPAM Systems by 1.1% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,788 shares of the information technology services provider's stock worth $1,089,000 after purchasing an additional 63 shares during the period. Finally, V Square Quantitative Management LLC increased its holdings in EPAM Systems by 4.3% in the 3rd quarter. V Square Quantitative Management LLC now owns 1,562 shares of the information technology services provider's stock worth $311,000 after acquiring an additional 65 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company's stock.

EPAM Systems Stock Up 0.6 %

EPAM stock traded up $1.54 during midday trading on Tuesday, hitting $244.79. The stock had a trading volume of 251,376 shares, compared to its average volume of 620,404. EPAM Systems, Inc. has a 52-week low of $169.43 and a 52-week high of $317.50. The firm has a market cap of $13.88 billion, a price-to-earnings ratio of 31.83, a price-to-earnings-growth ratio of 5.12 and a beta of 1.46. The business has a 50-day moving average of $199.79 and a two-hundred day moving average of $197.65. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.56 and a quick ratio of 4.84.

EPAM Systems declared that its board has authorized a share repurchase plan on Thursday, August 8th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to reacquire 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 shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on EPAM. Jefferies Financial Group lifted their price objective on EPAM Systems from $237.00 to $250.00 and gave the stock a "buy" rating in a report on Monday, September 9th. StockNews.com lowered EPAM Systems from a "buy" rating to a "hold" rating in a report on Thursday, November 7th. JPMorgan Chase & Co. boosted 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. Deutsche Bank Aktiengesellschaft began coverage on EPAM Systems in a research report on Thursday, August 22nd. They issued a "hold" rating and a $204.00 target price for the company. Finally, Citigroup boosted their price objective on EPAM Systems from $207.00 to $210.00 and gave the company a "neutral" rating in a research report on Monday, October 28th. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, EPAM Systems currently has a consensus rating of "Moderate Buy" and an average price target of $263.00.

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.