Entropy Technologies LP Sells 3,900 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Entropy Technologies LP lowered its stake in shares of EPAM Systems, Inc. (NYSE:EPAM) by 75.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,301 shares of the information technology services provider’s stock after selling 3,900 shares during the quarter. Entropy Technologies LP’s holdings in EPAM Systems were worth $259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Versor Investments LP boosted its holdings in shares of EPAM Systems by 92.5% in the 3rd quarter. Versor Investments LP now owns 3,078 shares of the information technology services provider’s stock valued at $613,000 after buying an additional 1,479 shares in the last quarter. Venturi Wealth Management LLC lifted its position in EPAM Systems by 45.2% during the third quarter. Venturi Wealth Management LLC now owns 527 shares of the information technology services provider’s stock valued at $105,000 after acquiring an additional 164 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its stake in EPAM Systems by 0.8% in the third quarter. State of New Jersey Common Pension Fund D now owns 54,598 shares of the information technology services provider’s stock valued at $10,867,000 after acquiring an additional 427 shares in the last quarter. Truxt Investmentos Ltda. purchased a new position in EPAM Systems in the third quarter worth $1,905,000. Finally, Covestor Ltd increased its position in shares of EPAM Systems by 16.4% during the third quarter. Covestor Ltd now owns 490 shares of the information technology services provider’s stock worth $98,000 after purchasing an additional 69 shares in the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

EPAM Systems Stock Down 3.9 %

EPAM opened at $235.29 on Friday. The company has a fifty day moving average of $203.19 and a two-hundred day moving average of $198.10. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 4.56. EPAM Systems, Inc. has a fifty-two week low of $169.43 and a fifty-two week high of $317.50. The stock has a market capitalization of $13.35 billion, a price-to-earnings ratio of 30.56, a PEG ratio of 3.81 and a beta of 1.46.

EPAM Systems announced that its board has initiated a share repurchase plan on Thursday, August 8th that authorizes the company to repurchase $500.00 million in outstanding 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 plans are generally a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms have recently weighed in on EPAM. Susquehanna boosted their target price on EPAM Systems from $240.00 to $270.00 and gave the stock a “positive” rating in a research note on Friday, November 8th. Deutsche Bank Aktiengesellschaft assumed coverage on EPAM Systems in a research note on Thursday, August 22nd. They set a “hold” rating and a $204.00 price target on the stock. Citigroup increased their price objective on shares of EPAM Systems from $207.00 to $210.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Itau BBA Securities raised shares of EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 target price on the stock in a research report on Friday, November 8th. Finally, Barclays raised their price target on shares of EPAM Systems from $200.00 to $225.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, EPAM Systems presently has an average rating of “Moderate Buy” and a consensus target price of $264.20.

Insider Activity at EPAM Systems

In other news, CFO Jason D. Peterson sold 1,000 shares of the business’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. The trade was a 3.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.30% of the stock is owned by company insiders.

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.