Michelson Medical Research Foundation Inc. bought a new stake in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 10,000 shares of the information technology services provider's stock, valued at approximately $1,990,000. EPAM Systems makes up 1.4% of Michelson Medical Research Foundation Inc.'s holdings, making the stock its 21st biggest position.
Several other large investors have also bought and sold shares of the company. Pacer Advisors Inc. raised its stake in shares of EPAM Systems by 14,325.2% during 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 bought a new position in shares of EPAM Systems in the 2nd quarter valued at approximately $84,850,000. Massachusetts Financial Services Co. MA raised its stake in shares of EPAM Systems by 643.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 417,526 shares of the information technology services provider's stock valued at $83,100,000 after acquiring an additional 361,363 shares in the last quarter. TD Asset Management Inc raised its stake in shares of EPAM Systems by 80.0% in the 2nd quarter. TD Asset Management Inc now owns 595,486 shares of the information technology services provider's stock valued at $112,017,000 after acquiring an additional 264,570 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake 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 in the last quarter. Institutional investors own 91.58% of the company's stock.
Insider Transactions at EPAM Systems
In other 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 sale, the chief financial officer now owns 24,836 shares in the company, valued at $5,886,132. The trade was a 3.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.30% of the stock is currently owned by corporate insiders.
EPAM Systems Trading Up 0.6 %
Shares of EPAM stock traded up $1.40 on Wednesday, reaching $241.91. 933,249 shares of the stock were exchanged, compared to its average volume of 621,787. The stock has a market cap of $13.72 billion, a PE ratio of 31.36, a P/E/G ratio of 3.73 and a beta of 1.49. EPAM Systems, Inc. has a one year low of $169.43 and a one year 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 stock has a 50 day moving average price of $212.90 and a 200 day moving average price of $200.42.
EPAM Systems announced that its board has approved a share repurchase plan on Thursday, August 8th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the information technology services provider to buy up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its stock is undervalued.
Wall Street Analyst Weigh In
EPAM has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their price target on EPAM Systems from $222.00 to $262.00 and gave the stock an "overweight" rating in a research report on Friday, September 6th. Itau BBA Securities raised EPAM Systems from a "market perform" rating to an "outperform" rating and set a $269.00 price target on the stock in a research report on Friday, November 8th. Susquehanna lifted their price target on EPAM Systems from $240.00 to $270.00 and gave the stock a "positive" rating in a research report on Friday, November 8th. 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 report on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on EPAM Systems in a report on Thursday, August 22nd. They set a "hold" rating and a $204.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, EPAM Systems currently has a consensus rating of "Moderate Buy" and an average price target of $264.20.
View Our Latest Report on EPAM
About EPAM Systems
(
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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