Sumitomo Mitsui Trust Group Inc. Boosts Stock Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 1.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 127,156 shares of the information technology services provider's stock after acquiring an additional 2,372 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.22% of EPAM Systems worth $25,308,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Janney Montgomery Scott LLC purchased a new position in shares of EPAM Systems during the first quarter worth approximately $272,000. Empowered Funds LLC bought a new stake in EPAM Systems during the 1st quarter valued at $220,000. Avantax Advisory Services Inc. lifted its holdings in shares of EPAM Systems by 9.2% in the 1st quarter. Avantax Advisory Services Inc. now owns 1,701 shares of the information technology services provider's stock worth $470,000 after buying an additional 143 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of EPAM Systems by 17.8% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,790 shares of the information technology services provider's stock worth $770,000 after buying an additional 422 shares in the last quarter. Finally, Blair William & Co. IL increased its stake in shares of EPAM Systems by 26.9% during the first quarter. Blair William & Co. IL now owns 14,457 shares of the information technology services provider's stock valued at $3,992,000 after buying an additional 3,067 shares during the period. Institutional investors own 91.58% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on EPAM shares. Scotiabank raised shares of EPAM Systems from a "sector perform" rating to a "sector outperform" rating and upped their price objective for the stock from $245.00 to $275.00 in a research note on Monday, November 11th. Piper Sandler increased their price objective on shares of EPAM Systems from $225.00 to $258.00 and gave the company an "overweight" rating in a research note on Thursday, November 7th. Susquehanna boosted their price objective on shares of EPAM Systems from $240.00 to $270.00 and gave the stock a "positive" rating in a research note on Friday, November 8th. Jefferies Financial Group increased their target price on EPAM Systems from $237.00 to $250.00 and gave the company a "buy" rating in a research report on Monday, September 9th. Finally, StockNews.com raised EPAM Systems from a "hold" rating to a "buy" rating in a research report on Friday. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $264.20.

EPAM Systems Stock Performance

Shares of NYSE EPAM traded down $9.57 during mid-day trading on Friday, hitting $235.29. The stock had a trading volume of 851,851 shares, compared to its average volume of 628,540. The firm has a market cap of $13.35 billion, a PE ratio of 30.56, a PEG ratio of 3.60 and a beta of 1.46. 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 company has a 50 day moving average of $203.19 and a two-hundred day moving average of $197.84. EPAM Systems, Inc. has a twelve month low of $169.43 and a twelve month high of $317.50.

EPAM Systems declared that its board has authorized a share buyback 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 buy up to 4.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its stock is undervalued.

Insider Buying and Selling

In related news, CFO Jason D. Peterson sold 1,000 shares of the firm's stock in a transaction 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 owns 24,836 shares of the company's stock, valued at $5,886,132. This trade represents a 3.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 4.30% of the company's stock.

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.