Tybourne Capital Management HK Ltd. Sells 27,600 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Tybourne Capital Management HK Ltd. lessened its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 13.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 185,012 shares of the information technology services provider’s stock after selling 27,600 shares during the quarter. EPAM Systems accounts for about 10.3% of Tybourne Capital Management HK Ltd.’s holdings, making the stock its 4th biggest position. Tybourne Capital Management HK Ltd.’s holdings in EPAM Systems were worth $36,823,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. ORG Partners LLC increased its holdings in shares of EPAM Systems by 5,000.0% in the 2nd quarter. ORG Partners LLC now owns 153 shares of the information technology services provider’s stock valued at $28,000 after acquiring an additional 150 shares during the period. Opal Wealth Advisors LLC purchased a new position in EPAM Systems during the 2nd quarter worth $29,000. Livforsakringsbolaget Skandia Omsesidigt increased its stake in EPAM Systems by 181.8% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 155 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 100 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of EPAM Systems by 101.0% in the third quarter. Farther Finance Advisors LLC now owns 211 shares of the information technology services provider’s stock valued at $42,000 after buying an additional 106 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of EPAM Systems during the third quarter worth about $44,000. Institutional investors and hedge funds own 91.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Itau BBA Securities raised EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 price objective for the company in a research note on Friday, November 8th. Jefferies Financial Group boosted their target price on EPAM Systems from $237.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Needham & Company LLC increased their target price on EPAM Systems from $215.00 to $265.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Mizuho lifted their price target on EPAM Systems from $245.00 to $282.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on EPAM Systems in a research report on Thursday, August 22nd. They issued a “hold” rating and a $204.00 price objective for the company. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $264.20.

Insider Activity at EPAM Systems

In related 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 transaction of $237,000.00. Following the completion of the sale, the chief financial officer now owns 24,836 shares in the company, valued at approximately $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 can be accessed through this hyperlink. 4.30% of the stock is owned by corporate insiders.

EPAM Systems Stock Down 1.1 %

Shares of NYSE EPAM opened at $245.84 on Thursday. The firm’s 50-day moving average is $208.34 and its two-hundred day moving average is $198.49. The company has a market capitalization of $13.94 billion, a PE ratio of 31.93, a price-to-earnings-growth ratio of 3.81 and a beta of 1.46. EPAM Systems, Inc. has a 12-month low of $169.43 and a 12-month high of $317.50. 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 announced that its Board of Directors has approved a share repurchase program on Thursday, August 8th that permits the company to buyback $500.00 million in 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 typically an indication that the company’s board of directors believes its stock is 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.