Kentucky Retirement Systems Insurance Trust Fund Cuts Stock Position in EPAM Systems, Inc. (NYSE:EPAM)

Kentucky Retirement Systems Insurance Trust Fund decreased its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM) by 9.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,686 shares of the information technology services provider’s stock after selling 184 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in EPAM Systems were worth $336,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Pacer Advisors Inc. lifted its holdings in shares of EPAM Systems by 14,325.2% in the second quarter. Pacer Advisors Inc. now owns 657,070 shares of the information technology services provider’s stock valued at $123,601,000 after purchasing an additional 652,515 shares in the last quarter. Manning & Napier Advisors LLC purchased a new stake in shares of EPAM Systems during the 2nd quarter valued at about $84,850,000. TD Asset Management Inc lifted its position in EPAM Systems by 80.0% during the 2nd quarter. TD Asset Management Inc now owns 595,486 shares of the information technology services provider’s stock worth $112,017,000 after acquiring an additional 264,570 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in EPAM Systems by 47,294.2% in the 2nd quarter. Acadian Asset Management LLC now owns 189,103 shares of the information technology services provider’s stock worth $35,560,000 after acquiring an additional 188,704 shares during the period. Finally, Epoch Investment Partners Inc. boosted its stake in shares of EPAM Systems by 97.7% in the second quarter. Epoch Investment Partners Inc. now owns 338,667 shares of the information technology services provider’s stock valued at $63,707,000 after purchasing an additional 167,343 shares during the period. Institutional investors and hedge funds own 91.58% of the company’s stock.

EPAM Systems Trading Down 2.5 %

Shares of NYSE:EPAM opened at $227.56 on Wednesday. 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 $204.16 and its 200 day moving average price is $197.70. The company has a market cap of $12.91 billion, a PE ratio of 29.55, a P/E/G ratio of 3.60 and a beta of 1.46. 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 of Directors has initiated a stock buyback program on Thursday, August 8th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to buy up to 4.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling 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. 4.30% of the stock is owned by company insiders.

Analyst Ratings Changes

EPAM has been the subject of several recent analyst reports. Citigroup raised their target price on EPAM Systems from $207.00 to $210.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Jefferies Financial Group raised their price objective on EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 9th. StockNews.com raised EPAM Systems from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Barclays increased their target price on EPAM Systems from $200.00 to $225.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Finally, Susquehanna upped their price target 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. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.