5,136 Shares in EPAM Systems, Inc. (NYSE:EPAM) Bought by Portside Wealth Group LLC

Portside Wealth Group LLC bought a new position in EPAM Systems, Inc. (NYSE:EPAM - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,136 shares of the information technology services provider's stock, valued at approximately $1,022,000.

Several other hedge funds and other institutional investors have also made changes to their positions in EPAM. Olympiad Research LP acquired a new stake in shares of EPAM Systems in the 3rd quarter valued at approximately $336,000. Principal Financial Group Inc. lifted its holdings in EPAM Systems by 1.2% in the third quarter. Principal Financial Group Inc. now owns 70,674 shares of the information technology services provider's stock valued at $14,066,000 after acquiring an additional 848 shares during the period. Sentry Investment Management LLC acquired a new stake in EPAM Systems in the third quarter valued at $52,000. Asset Management One Co. Ltd. boosted its position in shares of EPAM Systems by 0.4% during the 3rd quarter. Asset Management One Co. Ltd. now owns 21,579 shares of the information technology services provider's stock worth $4,295,000 after purchasing an additional 90 shares in the last quarter. Finally, Intact Investment Management Inc. acquired a new position in shares of EPAM Systems during the 3rd quarter worth $72,000. Hedge funds and other institutional investors own 91.58% of the company's stock.

EPAM Systems Trading Up 0.2 %

Shares of EPAM Systems stock traded up $0.53 during trading hours on Friday, reaching $233.45. 794,168 shares of the company's stock were exchanged, compared to its average volume of 554,863. The firm has a market capitalization of $13.29 billion, a price-to-earnings ratio of 33.45, a price-to-earnings-growth ratio of 4.45 and a beta of 1.46. The company has a current ratio of 4.84, a quick ratio of 4.84 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. The company has a fifty day moving average of $198.94 and a 200-day moving average of $197.93.

EPAM Systems (NYSE:EPAM - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.26 by $0.19. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. EPAM Systems had a return on equity of 14.31% and a net margin of 8.86%. The firm's quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the company earned $2.21 EPS. Sell-side analysts forecast that EPAM Systems, Inc. will post 8.08 EPS for the current fiscal year.

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

Analyst Ratings Changes

Several brokerages recently commented on EPAM. JPMorgan Chase & Co. raised their price objective on shares of EPAM Systems from $222.00 to $262.00 and gave the company an "overweight" rating in a research note on Friday, September 6th. Needham & Company LLC boosted their price target on EPAM Systems from $215.00 to $265.00 and gave the stock a "buy" rating in a research note on Friday. Susquehanna upped their price target on EPAM Systems from $240.00 to $270.00 and gave the stock a "positive" rating in a report on Friday. Barclays lifted their price objective on EPAM Systems from $200.00 to $225.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 23rd. Finally, Citigroup upped their target price on EPAM Systems from $207.00 to $210.00 and gave the company a "neutral" rating in a report on Monday, October 28th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, EPAM Systems currently has an average rating of "Moderate Buy" and an average price target of $261.50.

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.