Taika Capital LP purchased a new stake in EPAM Systems, Inc. (NYSE:EPAM - Free Report) in the third quarter, according to its most recent filing with the SEC. The fund purchased 3,617 shares of the information technology services provider's stock, valued at approximately $720,000.
Several other institutional investors and hedge funds have also made changes to their positions in EPAM. ORG Partners LLC grew its position in shares of EPAM Systems by 5,000.0% during the second quarter. ORG Partners LLC now owns 153 shares of the information technology services provider's stock worth $28,000 after acquiring an additional 150 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of EPAM Systems in the second quarter valued at approximately $29,000. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of EPAM Systems by 181.8% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 155 shares of the information technology services provider's stock valued at $31,000 after buying an additional 100 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of EPAM Systems by 101.0% during the third quarter. Farther Finance Advisors LLC now owns 211 shares of the information technology services provider's stock worth $42,000 after buying an additional 106 shares during the period. Finally, Capital Performance Advisors LLP bought a new position in EPAM Systems in the 3rd quarter worth approximately $44,000. 91.58% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the company. StockNews.com upgraded EPAM Systems from a "hold" rating to a "buy" rating in a research report on Friday, November 15th. JPMorgan Chase & Co. increased their target price on shares of EPAM Systems from $222.00 to $262.00 and gave the company an "overweight" rating in a research report on Friday, September 6th. The Goldman Sachs Group raised shares of EPAM Systems from a "neutral" rating to a "buy" rating and upped their price target for the stock from $235.00 to $295.00 in a research note on Friday. Needham & Company LLC increased their price objective on shares of EPAM Systems from $215.00 to $265.00 and gave the company a "buy" rating in a report on Friday, November 8th. Finally, Jefferies Financial Group boosted their target price on EPAM Systems from $237.00 to $250.00 and gave the stock a "buy" rating in a report on Monday, September 9th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, EPAM Systems presently has an average rating of "Moderate Buy" and a consensus target price of $268.95.
View Our Latest Analysis on EPAM
EPAM Systems Stock Up 1.6 %
Shares of NYSE EPAM traded up $3.74 during trading hours on Friday, hitting $244.11. The stock had a trading volume of 1,630,397 shares, compared to its average volume of 628,058. The company has a market capitalization of $13.85 billion, a P/E ratio of 31.22, a P/E/G ratio of 3.68 and a beta of 1.49. The firm's 50-day moving average price is $214.61 and its two-hundred day moving average price is $200.99. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 4.56. EPAM Systems, Inc. has a 52 week low of $169.43 and a 52 week high of $317.50.
EPAM Systems declared that its board has initiated a stock repurchase program on Thursday, August 8th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board believes its stock is undervalued.
Insiders Place Their Bets
In other news, CFO Jason D. Peterson sold 1,000 shares of the company's stock in a transaction that occurred 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 transaction, the chief financial officer now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.30% of the company's stock.
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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