EPAM Systems, Inc. (NYSE:EPAM) Shares Acquired by Verition Fund Management LLC

Verition Fund Management LLC raised its position in EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 784.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,950 shares of the information technology services provider's stock after acquiring an additional 15,921 shares during the period. Verition Fund Management LLC's holdings in EPAM Systems were worth $3,573,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the business. Metis Global Partners LLC grew its position in EPAM Systems by 2.5% during the 3rd quarter. Metis Global Partners LLC now owns 2,029 shares of the information technology services provider's stock worth $404,000 after purchasing an additional 50 shares during the last quarter. Retirement Systems of Alabama raised its stake in EPAM Systems by 0.4% in the 2nd quarter. Retirement Systems of Alabama now owns 12,788 shares of the information technology services provider's stock worth $2,406,000 after acquiring an additional 52 shares during the last quarter. Taylor Frigon Capital Management LLC lifted its position in EPAM Systems by 0.5% during the 2nd quarter. Taylor Frigon Capital Management LLC now owns 12,339 shares of the information technology services provider's stock worth $2,321,000 after acquiring an additional 56 shares during the period. First Horizon Advisors Inc. lifted its holdings in shares of EPAM Systems by 21.3% during the third quarter. First Horizon Advisors Inc. now owns 325 shares of the information technology services provider's stock worth $65,000 after purchasing an additional 57 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in EPAM Systems by 1.1% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,788 shares of the information technology services provider's stock valued at $1,089,000 after buying an additional 63 shares during the last quarter. 91.58% of the stock is owned by institutional investors and hedge funds.

EPAM Systems Stock Up 0.6 %

EPAM traded up $1.40 on Wednesday, reaching $241.91. The company's stock had a trading volume of 933,588 shares, compared to its average volume of 621,788. The company has a quick ratio of 4.56, a current ratio of 4.56 and a debt-to-equity ratio of 0.01. EPAM Systems, Inc. has a fifty-two week low of $169.43 and a fifty-two week high of $317.50. The stock has a 50 day moving average of $212.90 and a two-hundred day moving average of $200.42. The company has a market capitalization of $13.72 billion, a price-to-earnings ratio of 31.36, a P/E/G ratio of 3.73 and a beta of 1.49.

EPAM Systems announced that its board has approved a stock repurchase plan on Thursday, August 8th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the information technology services provider to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Insider Transactions at EPAM Systems

In related news, CFO Jason D. Peterson sold 1,000 shares of the firm's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $237.00, for a total value 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. This trade represents a 3.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 4.30% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on EPAM. Piper Sandler lifted 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. Scotiabank upgraded EPAM Systems from a "sector perform" rating to a "sector outperform" rating and lifted their price objective for the company from $245.00 to $275.00 in a research note on Monday, November 11th. StockNews.com upgraded EPAM Systems from a "hold" rating to a "buy" rating in a research note on Friday, November 15th. Needham & Company LLC boosted their price target on EPAM Systems from $215.00 to $265.00 and gave the company a "buy" rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. raised their price objective on shares of EPAM Systems from $222.00 to $262.00 and gave the stock an "overweight" rating in a research note on Friday, September 6th. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, EPAM Systems has a consensus rating of "Moderate Buy" and a consensus target price of $264.20.

EPAM Systems Company 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.