UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 2.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 295,657 shares of the information technology services provider's stock after selling 8,826 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.52% of EPAM Systems worth $58,845,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of EPAM. Glenmede Trust Co. NA boosted its position in shares of EPAM Systems by 31.4% in the third quarter. Glenmede Trust Co. NA now owns 13,036 shares of the information technology services provider's stock valued at $2,595,000 after acquiring an additional 3,112 shares during the period. Townsquare Capital LLC bought a new position in shares of EPAM Systems during the third quarter valued at $6,435,000. Dai ichi Life Insurance Company Ltd bought a new stake in EPAM Systems during the third quarter worth about $479,000. The Manufacturers Life Insurance Company increased its holdings in EPAM Systems by 21.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 45,188 shares of the information technology services provider's stock valued at $8,994,000 after purchasing an additional 7,885 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in shares of EPAM Systems by 10.9% in the third quarter. Daiwa Securities Group Inc. now owns 7,089 shares of the information technology services provider's stock valued at $1,411,000 after buying an additional 695 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company's stock.
EPAM Systems Stock Up 0.3 %
EPAM traded up $0.84 during trading on Wednesday, reaching $241.35. 719,587 shares of the stock were exchanged, compared to its average volume of 620,799. 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's 50 day moving average price is $212.90 and its two-hundred day moving average price is $200.42. EPAM Systems, Inc. has a twelve month low of $169.43 and a twelve month high of $317.50. The stock has a market cap of $13.69 billion, a P/E ratio of 31.36, a price-to-earnings-growth ratio of 3.73 and a beta of 1.49.
EPAM Systems announced that its board has authorized a share repurchase plan on Thursday, August 8th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the information technology services provider to repurchase up to 4.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its stock is undervalued.
Wall Street Analyst Weigh In
A number of brokerages recently commented on EPAM. Needham & Company LLC lifted their price objective on EPAM Systems from $215.00 to $265.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Scotiabank upgraded 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. StockNews.com upgraded shares of EPAM Systems from a "hold" rating to a "buy" rating in a report on Friday, November 15th. Mizuho upped their price target on shares of EPAM Systems from $245.00 to $282.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Finally, Citigroup raised their price objective on shares of EPAM Systems from $207.00 to $210.00 and gave the stock a "neutral" rating in a report on Monday, October 28th. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, EPAM Systems currently has an average rating of "Moderate Buy" and a consensus price target of $264.20.
Check Out Our Latest Stock Report on EPAM Systems
Insider Transactions at EPAM Systems
In other EPAM Systems news, CFO Jason D. Peterson sold 1,000 shares of the business's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $237.00, for a total value of $237,000.00. Following the completion of the sale, the chief financial officer now 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 at the SEC website. 4.30% of the stock is owned by corporate insiders.
EPAM Systems Profile
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Free Report)
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.
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