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

MAI Capital Management boosted its position in EPAM Systems, Inc. (NYSE:EPAM) by 10.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,126 shares of the information technology services provider’s stock after buying an additional 3,750 shares during the quarter. MAI Capital Management’s holdings in EPAM Systems were worth $7,986,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EPAM. Vanguard Group Inc. lifted its stake in shares of EPAM Systems by 0.6% in the first quarter. Vanguard Group Inc. now owns 6,865,123 shares of the information technology services provider’s stock worth $1,895,872,000 after acquiring an additional 39,531 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of EPAM Systems by 14,325.2% during the second quarter. Pacer Advisors Inc. now owns 657,070 shares of the information technology services provider’s stock worth $123,601,000 after buying an additional 652,515 shares in the last quarter. TD Asset Management Inc increased its stake in shares of 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. Manning & Napier Advisors LLC acquired a new stake in EPAM Systems in the second quarter valued at $84,850,000. Finally, Bank of New York Mellon Corp boosted its stake in EPAM Systems by 4.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 379,834 shares of the information technology services provider’s stock valued at $71,451,000 after acquiring an additional 15,116 shares during the last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

EPAM Systems Price Performance

Shares of NYSE EPAM opened at $233.42 on Tuesday. The firm’s 50-day simple moving average is $203.74 and its 200 day simple moving average is $197.81. The stock has a market cap of $13.24 billion, a P/E ratio of 30.31, a P/E/G ratio of 3.60 and a beta of 1.46. The company has a quick ratio of 4.56, a current ratio of 4.56 and a debt-to-equity ratio of 0.01. EPAM Systems, Inc. has a fifty-two week low of $169.43 and a fifty-two week high of $317.50.

EPAM Systems declared that its board has initiated a share 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 repurchase up to 4.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at EPAM Systems

In other EPAM Systems news, CFO Jason D. Peterson sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $237.00, for a total value of $237,000.00. Following the completion of the sale, the chief financial officer now directly owns 24,836 shares in the company, valued at $5,886,132. This represents a 3.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 4.30% of the company’s stock.

Wall Street Analyst Weigh In

EPAM has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their target price on shares of EPAM Systems from $222.00 to $262.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Scotiabank upgraded EPAM Systems from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $245.00 to $275.00 in a research note on Monday, November 11th. Itau BBA Securities raised EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 target price on the stock in a report on Friday, November 8th. Susquehanna upped their price target on EPAM Systems from $240.00 to $270.00 and gave the company a “positive” rating in a research report on Friday, November 8th. Finally, Mizuho lifted their price objective on shares of EPAM Systems from $245.00 to $282.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, EPAM Systems has a consensus rating of “Moderate Buy” and an average price target 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.