Assenagon Asset Management S.A. Boosts Position in EPAM Systems, Inc. (NYSE:EPAM)

Assenagon Asset Management S.A. grew its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM) by 10.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 346,201 shares of the information technology services provider’s stock after purchasing an additional 33,715 shares during the period. Assenagon Asset Management S.A.’s holdings in EPAM Systems were worth $80,949,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Geneva Capital Management LLC lifted its holdings in shares of EPAM Systems by 6.0% during the 3rd quarter. Geneva Capital Management LLC now owns 71,281 shares of the information technology services provider’s stock valued at $14,187,000 after acquiring an additional 4,027 shares in the last quarter. Centre Asset Management LLC purchased a new position in EPAM Systems in the fourth quarter valued at about $8,757,000. Oppenheimer Asset Management Inc. acquired a new position in shares of EPAM Systems during the third quarter worth about $8,195,000. Victory Capital Management Inc. boosted its position in shares of 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 worth $14,419,000 after buying an additional 51,603 shares during the period. Finally, Raymond James & Associates grew its stake in shares of 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 buying an additional 34,701 shares in the last quarter. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

EPAM Systems Price Performance

EPAM opened at $228.64 on Thursday. The company has a quick ratio of 4.56, a current ratio of 4.56 and a debt-to-equity ratio of 0.01. The company’s 50-day moving average price is $239.61 and its 200 day moving average price is $212.96. EPAM Systems, Inc. has a fifty-two week low of $169.43 and a fifty-two week high of $317.50. The firm has a market cap of $12.97 billion, a price-to-earnings ratio of 29.69, a price-to-earnings-growth ratio of 3.74 and a beta of 1.50.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on EPAM shares. Citigroup upped their price target on EPAM Systems from $207.00 to $210.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Barclays raised shares of EPAM Systems from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $250.00 to $290.00 in a report on Tuesday, December 17th. Piper Sandler boosted their price objective on shares of EPAM Systems from $225.00 to $258.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Mizuho raised their target price 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, Susquehanna boosted their price target on EPAM Systems from $240.00 to $270.00 and gave the stock a “positive” rating in a research note on Friday, November 8th. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $267.84.

Insider Activity

In related news, SVP Viktar Dvorkin sold 6,758 shares of EPAM Systems stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $256.53, for a total value of $1,733,629.74. Following the sale, the senior vice president now directly owns 13,000 shares in the company, valued at $3,334,890. This trade represents a 34.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Jason D. Peterson sold 464 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $257.00, for a total transaction of $119,248.00. Following the completion of the transaction, the chief financial officer now owns 24,372 shares of the company’s stock, valued at approximately $6,263,604. This trade represents a 1.87 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,222 shares of company stock valued at $2,089,878. 4.30% of the stock is currently owned by insiders.

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.