EPAM Systems, Inc. (NYSE:EPAM) Shares Bought by Aureus Asset Management LLC

Aureus Asset Management LLC raised its position in EPAM Systems, Inc. (NYSE:EPAM) by 7.7% during the 3rd quarter, Holdings Channel reports. The firm owned 73,429 shares of the information technology services provider’s stock after acquiring an additional 5,276 shares during the quarter. Aureus Asset Management LLC’s holdings in EPAM Systems were worth $14,615,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Geneva Capital Management LLC grew its holdings in EPAM Systems by 6.0% in the third quarter. Geneva Capital Management LLC now owns 71,281 shares of the information technology services provider’s stock valued at $14,187,000 after purchasing an additional 4,027 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in EPAM Systems in the third quarter valued at $8,195,000. Victory Capital Management Inc. grew its holdings in EPAM Systems by 247.6% in the third quarter. Victory Capital Management Inc. now owns 72,447 shares of the information technology services provider’s stock valued at $14,419,000 after purchasing an additional 51,603 shares during the last quarter. Raymond James & Associates grew its holdings in EPAM Systems by 1,741.1% in the third quarter. Raymond James & Associates now owns 36,694 shares of the information technology services provider’s stock valued at $7,303,000 after purchasing an additional 34,701 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of EPAM Systems by 251.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 19,128 shares of the information technology services provider’s stock valued at $3,807,000 after acquiring an additional 13,690 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

EPAM Systems Stock Performance

EPAM Systems stock opened at $243.92 on Monday. The stock’s 50-day moving average is $211.19 and its 200-day moving average is $199.60. The company has a market cap of $13.84 billion, a price-to-earnings ratio of 31.68, a price-to-earnings-growth ratio of 3.73 and a beta of 1.46. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.56 and a quick ratio of 4.56. EPAM Systems, Inc. has a 12 month low of $169.43 and a 12 month high of $317.50.

EPAM Systems announced that its board has initiated a share repurchase plan on Thursday, August 8th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the information technology services provider to buy up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Transactions at EPAM Systems

In other news, CFO Jason D. Peterson sold 1,000 shares of the firm’s 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 transaction, the chief financial officer now directly owns 24,836 shares in the company, valued at $5,886,132. This trade represents a 3.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 4.30% of the company’s stock.

Analyst Ratings Changes

EPAM has been the topic of several recent research reports. Needham & Company LLC upped their price objective on EPAM Systems from $215.00 to $265.00 and gave the company a “buy” rating in a research report on Friday, November 8th. StockNews.com upgraded EPAM Systems from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Mizuho upped their price objective on EPAM Systems from $245.00 to $282.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Citigroup upped their price objective on EPAM Systems from $207.00 to $210.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. upped their price objective on EPAM Systems from $222.00 to $262.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, EPAM Systems presently has an average rating of “Moderate Buy” and an average target price of $264.20.

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.