Edgestream Partners L.P. Has $2.93 Million Stock Position in EPAM Systems, Inc. (NYSE:EPAM)

Edgestream Partners L.P. grew its position in EPAM Systems, Inc. (NYSE:EPAM) by 108.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,731 shares of the information technology services provider’s stock after buying an additional 7,679 shares during the period. Edgestream Partners L.P.’s holdings in EPAM Systems were worth $2,932,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Metis Global Partners LLC grew its holdings in shares of EPAM Systems by 2.5% in the 3rd quarter. Metis Global Partners LLC now owns 2,029 shares of the information technology services provider’s stock valued at $404,000 after buying an additional 50 shares during the period. Retirement Systems of Alabama lifted its position in EPAM Systems by 0.4% during 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 buying an additional 52 shares in 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 buying an additional 56 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in shares of EPAM Systems by 21.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 325 shares of the information technology services provider’s stock valued at $65,000 after purchasing an additional 57 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of EPAM Systems by 1.1% in the 2nd 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 purchasing an additional 63 shares during the period. Institutional investors and hedge funds own 91.58% of the company’s stock.

Insider Transactions at EPAM Systems

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on EPAM shares. Deutsche Bank Aktiengesellschaft started coverage on shares of EPAM Systems in a report on Thursday, August 22nd. They issued a “hold” rating and a $204.00 target price on the stock. Itau BBA Securities upgraded shares of EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 price target on the stock in a research note on Friday, November 8th. Needham & Company LLC increased their target price on shares of EPAM Systems from $215.00 to $265.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Mizuho increased their price target on shares of EPAM Systems from $245.00 to $282.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Citigroup lifted their price target on shares of EPAM Systems from $207.00 to $210.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $264.20.

EPAM Systems Trading Down 0.8 %

NYSE:EPAM opened at $243.92 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.56 and a quick ratio of 4.56. The firm has a 50-day moving average of $211.19 and a 200-day moving average of $199.60. The company has a market cap of $13.84 billion, a PE ratio of 31.68, a PEG ratio of 3.73 and a beta of 1.46. EPAM Systems, Inc. has a one year low of $169.43 and a one year high of $317.50.

EPAM Systems declared that its board has authorized a stock repurchase program on Thursday, August 8th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the information technology services provider to purchase up to 4.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

About EPAM Systems

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.