Pathstone Holdings LLC Purchases 3,507 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Pathstone Holdings LLC raised its position in EPAM Systems, Inc. (NYSE:EPAM) by 32.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,249 shares of the information technology services provider’s stock after purchasing an additional 3,507 shares during the period. Pathstone Holdings LLC’s holdings in EPAM Systems were worth $2,836,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Pacer Advisors Inc. lifted its position in EPAM Systems by 14,325.2% in the 2nd 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 during the last quarter. TD Asset Management Inc boosted its stake in shares of EPAM Systems by 80.0% in the 2nd quarter. TD Asset Management Inc now owns 595,486 shares of the information technology services provider’s stock valued at $112,017,000 after purchasing an additional 264,570 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in shares of EPAM Systems during the 2nd quarter valued at $84,850,000. Bank of New York Mellon Corp raised its position in EPAM Systems by 4.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 379,834 shares of the information technology services provider’s stock worth $71,451,000 after purchasing an additional 15,116 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in EPAM Systems by 33.4% in the second quarter. Dimensional Fund Advisors LP now owns 342,734 shares of the information technology services provider’s stock worth $64,466,000 after purchasing an additional 85,883 shares during the last quarter. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at EPAM Systems

In other 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 $5,886,132. This trade represents a 3.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

EPAM has been the topic of a number of analyst reports. Needham & Company LLC boosted their price objective on shares of EPAM Systems from $215.00 to $265.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Itau BBA Securities raised shares of EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 target price for the company in a research report on Friday, November 8th. Scotiabank upgraded shares of EPAM Systems from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $245.00 to $275.00 in a research report on Monday, November 11th. Mizuho increased their price target on shares of EPAM Systems from $245.00 to $282.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Jefferies Financial Group lifted their price objective on EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $264.20.

EPAM Systems Stock Performance

Shares of EPAM opened at $249.10 on Tuesday. The firm has a market capitalization of $14.13 billion, a P/E ratio of 32.35, a PEG ratio of 3.75 and a beta of 1.46. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.56 and a quick ratio of 4.56. The business has a fifty day moving average of $207.37 and a 200 day moving average of $198.03. EPAM Systems, Inc. has a one year low of $169.43 and a one year high of $317.50.

EPAM Systems announced that its board has initiated a stock buyback program on Thursday, August 8th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the information technology services provider to purchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

EPAM Systems Company 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.