EPAM Systems, Inc. (NYSE:EPAM) CFO Sells $237,000.00 in Stock

EPAM Systems, Inc. (NYSE:EPAM) CFO Jason D. Peterson sold 1,000 shares of EPAM Systems stock in a transaction 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 sale, the chief financial officer now directly owns 24,836 shares of the company’s stock, valued at $5,886,132. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

EPAM Systems Trading Up 1.1 %

NYSE:EPAM opened at $245.89 on Wednesday. EPAM Systems, Inc. has a 12 month low of $169.43 and a 12 month high of $317.50. The company has a current ratio of 4.56, a quick ratio of 4.84 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average price of $200.80 and a 200-day moving average price of $197.70. The stock has a market cap of $13.95 billion, a price-to-earnings ratio of 31.93, a P/E/G ratio of 5.12 and a beta of 1.46.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in EPAM. Daiwa Securities Group Inc. lifted its position in EPAM Systems by 10.9% during the third quarter. Daiwa Securities Group Inc. now owns 7,089 shares of the information technology services provider’s stock valued at $1,411,000 after buying an additional 695 shares during the period. Cerity Partners LLC lifted its position in EPAM Systems by 27.9% during the 3rd quarter. Cerity Partners LLC now owns 45,574 shares of the information technology services provider’s stock valued at $9,071,000 after acquiring an additional 9,932 shares during the period. Nicolet Advisory Services LLC boosted its stake in EPAM Systems by 5.9% during the third quarter. Nicolet Advisory Services LLC now owns 2,161 shares of the information technology services provider’s stock worth $423,000 after acquiring an additional 120 shares in the last quarter. Citigroup Inc. grew its stake in shares of EPAM Systems by 199.5% in the 3rd quarter. Citigroup Inc. now owns 173,721 shares of the information technology services provider’s stock worth $34,576,000 after buying an additional 115,720 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in EPAM Systems by 45.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 515,351 shares of the information technology services provider’s stock worth $102,570,000 after acquiring an additional 160,989 shares in the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on EPAM. Barclays raised their price target on EPAM Systems from $200.00 to $225.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Itau BBA Securities upgraded shares of EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 target price on the stock in a research report on Friday, November 8th. Piper Sandler upped their price target on shares of EPAM Systems from $225.00 to $258.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Citigroup lifted their price objective on EPAM Systems from $207.00 to $210.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Finally, JPMorgan Chase & Co. increased their target price on EPAM Systems from $222.00 to $262.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, EPAM Systems presently has an average rating of “Moderate Buy” and a consensus price target of $263.00.

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.