EPAM Systems, Inc. (NYSE:EPAM) Shares Sold by Point72 DIFC Ltd

Point72 DIFC Ltd lessened its holdings in EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 98.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 223 shares of the information technology services provider's stock after selling 18,025 shares during the quarter. Point72 DIFC Ltd's holdings in EPAM Systems were worth $44,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Pacer Advisors Inc. grew its position in 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 acquiring an additional 652,515 shares during the last quarter. TD Asset Management Inc boosted its position in shares of EPAM Systems by 80.0% during the 2nd quarter. TD Asset Management Inc now owns 595,486 shares of the information technology services provider's stock worth $112,017,000 after purchasing an additional 264,570 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of EPAM Systems by 45.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 515,351 shares of the information technology services provider's stock valued at $102,570,000 after acquiring an additional 160,989 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of EPAM Systems by 643.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 417,526 shares of the information technology services provider's stock worth $83,100,000 after acquiring an additional 361,363 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in EPAM Systems by 4.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 379,834 shares of the information technology services provider's stock valued at $71,451,000 after acquiring an additional 15,116 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company's stock.

EPAM Systems Stock Up 1.5 %

EPAM Systems stock traded up $3.78 during mid-day trading on Tuesday, reaching $250.98. 542,885 shares of the company were exchanged, compared to its average volume of 632,819. EPAM Systems, Inc. has a 12-month low of $169.43 and a 12-month high of $317.50. The business has a fifty day moving average of $216.50 and a 200 day moving average of $201.95. The firm has a market cap of $14.24 billion, a P/E ratio of 32.13, a PEG ratio of 3.76 and a beta of 1.49. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 4.56.

Analysts Set New Price Targets

EPAM has been the subject of several recent research reports. Jefferies Financial Group boosted their price target on shares of EPAM Systems from $237.00 to $250.00 and gave the stock a "buy" rating in a research note on Monday, September 9th. Piper Sandler increased their target price on shares of EPAM Systems from $225.00 to $258.00 and gave the stock an "overweight" rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft initiated coverage on EPAM Systems in a research note on Thursday, August 22nd. They issued a "hold" rating and a $204.00 price target for the company. Citigroup lifted their target price on shares of EPAM Systems from $207.00 to $210.00 and gave the company a "neutral" rating in a research note on Monday, October 28th. Finally, 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 research report on Friday, November 8th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $268.95.

Insiders Place Their Bets

In other news, CFO Jason D. Peterson sold 1,000 shares of EPAM Systems 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 completion of the transaction, the chief financial officer now directly 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 Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.30% of the company's stock.

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.