Metis Global Partners LLC Raises Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Metis Global Partners LLC boosted its stake in shares of EPAM Systems, Inc. (NYSE:EPAM) by 2.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,029 shares of the information technology services provider’s stock after acquiring an additional 50 shares during the quarter. Metis Global Partners LLC’s holdings in EPAM Systems were worth $404,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Geneva Capital Management LLC increased 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 purchasing an additional 4,027 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in EPAM Systems in the third quarter valued at $8,195,000. Raymond James & Associates raised its position 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 worth $7,303,000 after acquiring an additional 34,701 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of EPAM Systems by 251.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 19,128 shares of the information technology services provider’s stock worth $3,807,000 after acquiring an additional 13,690 shares in the last quarter. Finally, Diversified Trust Co acquired a new stake in shares of EPAM Systems during the 2nd quarter valued at about $734,000. 91.58% of the stock is owned by institutional investors and hedge funds.

EPAM Systems Stock Down 0.8 %

Shares of NYSE:EPAM opened at $233.42 on Tuesday. EPAM Systems, Inc. has a 52-week low of $169.43 and a 52-week high of $317.50. 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 business has a fifty day moving average of $203.74 and a two-hundred day moving average of $197.81. The stock has a market cap of $13.24 billion, a P/E ratio of 30.31, a PEG ratio of 3.60 and a beta of 1.46.

EPAM Systems declared that its board has authorized a share repurchase program on Thursday, August 8th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the information technology services provider to purchase up to 4.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Jefferies Financial Group increased their price target on EPAM Systems from $237.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. JPMorgan Chase & Co. lifted their price target on shares of EPAM Systems from $222.00 to $262.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Piper Sandler upped their price objective on shares of EPAM Systems from $225.00 to $258.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft started coverage on shares of EPAM Systems in a research report on Thursday, August 22nd. They issued a “hold” rating and a $204.00 target price on the stock. Finally, Scotiabank upgraded shares of EPAM Systems from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $245.00 to $275.00 in a research report on Monday, November 11th. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $264.20.

Insider Activity at EPAM Systems

In related 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 transaction, the chief financial officer now directly owns 24,836 shares in the company, valued at approximately $5,886,132. This represents a 3.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 4.30% of the stock is currently owned by insiders.

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.