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

MAI Capital Management grew its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 10.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund 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 owned 0.07% of EPAM Systems worth $7,986,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Natixis Advisors LLC raised its stake in shares of EPAM Systems by 14.1% during the 3rd quarter. Natixis Advisors LLC now owns 25,627 shares of the information technology services provider’s stock worth $5,101,000 after buying an additional 3,167 shares in the last quarter. Mizuho Securities USA LLC lifted its holdings in EPAM Systems by 762.5% in the third quarter. Mizuho Securities USA LLC now owns 38,520 shares of the information technology services provider’s stock valued at $7,667,000 after acquiring an additional 34,054 shares during the period. Empirical Finance LLC boosted its position in shares of EPAM Systems by 5.2% during the 3rd quarter. Empirical Finance LLC now owns 1,362 shares of the information technology services provider’s stock worth $271,000 after purchasing an additional 67 shares in the last quarter. Empowered Funds LLC acquired a new position in shares of EPAM Systems during the 3rd quarter worth $7,537,000. Finally, CIBC Asset Management Inc increased its holdings in shares of EPAM Systems by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 8,327 shares of the information technology services provider’s stock valued at $1,657,000 after purchasing an additional 277 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

EPAM Systems Price Performance

Shares of EPAM Systems stock opened at $233.42 on Tuesday. The stock has a market capitalization of $13.24 billion, a P/E ratio of 30.31, a PEG ratio of 3.60 and a beta of 1.46. The company has a current ratio of 4.56, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01. The business’s fifty day moving average price is $203.74 and its 200 day moving average price is $197.81. EPAM Systems, Inc. has a twelve month low of $169.43 and a twelve month high of $317.50.

EPAM Systems announced that its Board of Directors has authorized a stock buyback program 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 shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, CFO Jason D. Peterson sold 1,000 shares of EPAM Systems stock in a transaction on 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 owns 24,836 shares in the company, valued at approximately $5,886,132. The trade was a 3.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 4.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Susquehanna increased their target price on shares of EPAM Systems from $240.00 to $270.00 and gave the company a “positive” rating in a report on Friday, November 8th. Piper Sandler raised their price target on EPAM Systems from $225.00 to $258.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of EPAM Systems in a research report on Thursday, August 22nd. They issued a “hold” rating and a $204.00 price objective on the stock. JPMorgan Chase & Co. raised their target price on shares of EPAM Systems from $222.00 to $262.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Finally, Scotiabank raised shares of EPAM Systems from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $245.00 to $275.00 in a research note on Monday, November 11th. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $264.20.

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.