Sora Investors LLC Sells 20,000 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Sora Investors LLC decreased its holdings in EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 66.7% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,000 shares of the information technology services provider's stock after selling 20,000 shares during the period. Sora Investors LLC's holdings in EPAM Systems were worth $1,990,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. CWM LLC increased its stake in shares of EPAM Systems by 28.6% in the second quarter. CWM LLC now owns 1,857 shares of the information technology services provider's stock worth $349,000 after buying an additional 413 shares during the period. Opal Wealth Advisors LLC bought a new position in shares of EPAM Systems during the second quarter valued at about $29,000. SG Americas Securities LLC boosted its holdings in shares of EPAM Systems by 235.3% during the second quarter. SG Americas Securities LLC now owns 23,409 shares of the information technology services provider's stock worth $4,403,000 after purchasing an additional 16,428 shares during the period. Czech National Bank grew its stake in shares of EPAM Systems by 8.8% in the second quarter. Czech National Bank now owns 11,047 shares of the information technology services provider's stock worth $2,078,000 after purchasing an additional 895 shares during the last quarter. Finally, D.B. Root & Company LLC purchased a new position in EPAM Systems during the 2nd quarter valued at about $322,000. Hedge funds and other institutional investors own 91.58% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Needham & Company LLC boosted their target price on EPAM Systems from $215.00 to $265.00 and gave the company a "buy" rating in a research note on Friday, November 8th. Scotiabank raised shares of EPAM Systems from a "sector perform" rating to a "sector outperform" rating and boosted their price objective for the company from $245.00 to $275.00 in a research report on Monday, November 11th. Mizuho raised their target price on shares of EPAM Systems from $245.00 to $282.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 13th. The Goldman Sachs Group upgraded shares of EPAM Systems from a "neutral" rating to a "buy" rating and boosted their price target for the company from $235.00 to $295.00 in a research report on Friday. Finally, JPMorgan Chase & Co. raised their price objective on shares of EPAM Systems from $222.00 to $262.00 and gave the stock an "overweight" rating in a report on Friday, September 6th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $268.95.

Insider Activity at EPAM Systems

In related news, CFO Jason D. Peterson sold 1,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were 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 represents a 3.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.30% of the stock is currently owned by insiders.

EPAM Systems Stock Up 2.3 %

Shares of NYSE EPAM traded up $5.53 during midday trading on Friday, hitting $245.90. The stock had a trading volume of 1,522,896 shares, compared to its average volume of 627,679. The business's 50 day moving average is $214.61 and its 200-day moving average is $200.99. EPAM Systems, Inc. has a 52 week low of $169.43 and a 52 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 company has a market cap of $13.95 billion, a P/E ratio of 31.22, a PEG ratio of 3.68 and a beta of 1.49.

EPAM Systems declared that its board has authorized a stock repurchase plan 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 purchase up to 4.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its shares are undervalued.

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.