Geneva Capital Management LLC Grows Stock Position in EPAM Systems, Inc. (NYSE:EPAM)

Geneva Capital Management LLC lifted its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 6.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 71,281 shares of the information technology services provider's stock after acquiring an additional 4,027 shares during the quarter. Geneva Capital Management LLC owned approximately 0.13% of EPAM Systems worth $14,187,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Victory Capital Management Inc. boosted its stake in shares of EPAM Systems by 247.6% during the 3rd quarter. Victory Capital Management Inc. now owns 72,447 shares of the information technology services provider's stock worth $14,419,000 after acquiring an additional 51,603 shares during the period. Meridian Management Co. lifted its holdings in EPAM Systems by 1.6% during the 3rd quarter. Meridian Management Co. now owns 22,231 shares of the information technology services provider's stock worth $4,425,000 after purchasing an additional 351 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in EPAM Systems by 1.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 127,156 shares of the information technology services provider's stock valued at $25,308,000 after buying an additional 2,372 shares in the last quarter. Versor Investments LP grew its holdings in EPAM Systems by 92.5% in the 3rd quarter. Versor Investments LP now owns 3,078 shares of the information technology services provider's stock valued at $613,000 after buying an additional 1,479 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in EPAM Systems by 45.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 527 shares of the information technology services provider's stock valued at $105,000 after buying an additional 164 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors.

EPAM Systems Stock Up 0.7 %

NYSE:EPAM traded up $1.78 on Wednesday, hitting $247.53. The stock had a trading volume of 265,938 shares, compared to its average volume of 620,708. The business's fifty day moving average is $200.80 and its 200 day moving average is $197.70. The company has a market cap of $14.04 billion, a PE ratio of 31.95, a P/E/G ratio of 3.75 and a beta of 1.46. The company has a quick ratio of 4.56, a current ratio of 4.56 and a debt-to-equity ratio of 0.01. EPAM Systems, Inc. has a 52 week low of $169.43 and a 52 week high of $317.50.

EPAM Systems announced that its board has initiated a share buyback program on Thursday, August 8th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the information technology services provider to purchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Activity

In related news, CFO Jason D. Peterson sold 1,000 shares of EPAM Systems 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 sale, the chief financial officer now directly owns 24,836 shares in the company, valued at approximately $5,886,132. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 4.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on EPAM. Scotiabank raised EPAM Systems from a "sector perform" rating to a "sector outperform" rating and upped their price objective for the company from $245.00 to $275.00 in a report on Monday. Itau BBA Securities raised 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. StockNews.com lowered EPAM Systems from a "buy" rating to a "hold" rating in a report on Thursday, November 7th. Needham & Company LLC upped their price objective on EPAM Systems from $215.00 to $265.00 and gave the company a "buy" rating in a report on Friday, November 8th. Finally, Citigroup upped their target price 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 analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock 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.