EPAM Systems, Inc. (NYSE:EPAM) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. increased its stake in EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 247.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 72,447 shares of the information technology services provider's stock after purchasing an additional 51,603 shares during the period. Victory Capital Management Inc. owned approximately 0.13% of EPAM Systems worth $14,419,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of EPAM. Pacer Advisors Inc. boosted its holdings in EPAM Systems by 14,325.2% in the second 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 in the last quarter. Manning & Napier Advisors LLC bought a new stake in EPAM Systems during the second quarter worth $84,850,000. TD Asset Management Inc increased its position in EPAM Systems by 80.0% in the second quarter. TD Asset Management Inc now owns 595,486 shares of the information technology services provider's stock worth $112,017,000 after buying an additional 264,570 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of EPAM Systems by 47,294.2% in the second quarter. Acadian Asset Management LLC now owns 189,103 shares of the information technology services provider's stock valued at $35,560,000 after purchasing an additional 188,704 shares in the last quarter. Finally, Epoch Investment Partners Inc. grew its position in shares of EPAM Systems by 97.7% in the second quarter. Epoch Investment Partners Inc. now owns 338,667 shares of the information technology services provider's stock valued at $63,707,000 after purchasing an additional 167,343 shares in the last quarter. 91.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Barclays lifted their price objective on EPAM Systems from $200.00 to $225.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 23rd. Susquehanna increased their target price on EPAM Systems from $240.00 to $270.00 and gave the company a "positive" rating in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft initiated coverage on EPAM Systems in a report on Thursday, August 22nd. They set a "hold" rating and a $204.00 target price for the company. JPMorgan Chase & Co. upped their price target on EPAM Systems from $222.00 to $262.00 and gave the company an "overweight" rating in a research report on Friday, September 6th. Finally, StockNews.com raised EPAM Systems from a "hold" rating to a "buy" rating in a research report on Friday, November 15th. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $264.20.

Insider Activity at EPAM Systems

In other news, CFO Jason D. Peterson sold 1,000 shares of EPAM Systems stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $237.00, for a total value of $237,000.00. Following the sale, the chief financial officer now directly owns 24,836 shares of the company's stock, valued at approximately $5,886,132. The trade was a 3.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.30% of the stock is owned by company insiders.

EPAM Systems Stock Up 3.0 %

EPAM traded up $6.90 during trading on Wednesday, hitting $234.50. 520,641 shares of the company's stock traded hands, compared to its average volume of 622,575. The company's 50 day simple moving average is $204.78 and its two-hundred day simple moving average is $197.96. The company has a current ratio of 4.56, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01. EPAM Systems, Inc. has a 12-month low of $169.43 and a 12-month high of $317.50. The stock has a market capitalization of $13.30 billion, a price-to-earnings ratio of 30.45, a PEG ratio of 3.60 and a beta of 1.46.

EPAM Systems declared that its Board of Directors has approved a share repurchase program 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 reacquire up to 4.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its stock is undervalued.

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.