EPAM Systems, Inc. (NYSE:EPAM) Stock Holdings Lifted by Quest Partners LLC

Quest Partners LLC raised its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 36.7% in the third quarter, Holdings Channel reports. The firm owned 645 shares of the information technology services provider’s stock after buying an additional 173 shares during the period. Quest Partners LLC’s holdings in EPAM Systems were worth $128,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Pacer Advisors Inc. increased 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 period. Manning & Napier Advisors LLC acquired a new position in EPAM Systems during the 2nd quarter valued at $84,850,000. TD Asset Management Inc boosted its holdings in 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 during the period. Acadian Asset Management LLC grew its position 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 purchasing an additional 188,704 shares during the last quarter. Finally, Epoch Investment Partners Inc. increased its holdings in shares of EPAM Systems by 97.7% during the 2nd quarter. Epoch Investment Partners Inc. now owns 338,667 shares of the information technology services provider’s stock worth $63,707,000 after purchasing an additional 167,343 shares during the period. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EPAM has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft started coverage on EPAM Systems in a report on Thursday, August 22nd. They set a “hold” rating and a $204.00 price objective on the stock. JPMorgan Chase & Co. lifted their price target on shares of EPAM Systems from $222.00 to $262.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Scotiabank upgraded shares of EPAM Systems from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $245.00 to $275.00 in a research note on Monday, November 11th. Needham & Company LLC lifted their target price 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. Finally, Citigroup increased their price target on shares of EPAM Systems from $207.00 to $210.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $264.20.

EPAM Systems Price Performance

EPAM Systems stock opened at $245.79 on Friday. The stock has a 50-day moving average price of $209.30 and a two-hundred day moving average price of $198.82. EPAM Systems, Inc. has a 12 month low of $169.43 and a 12 month high of $317.50. The company has a market capitalization of $13.94 billion, a PE ratio of 31.92, a P/E/G ratio of 3.81 and a beta of 1.46. The company has a current ratio of 4.56, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01.

EPAM Systems declared that its board has initiated a share buyback program on Thursday, August 8th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire up to 4.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In related news, CFO Jason D. Peterson sold 1,000 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $237.00, for a total value of $237,000.00. Following the transaction, the chief financial officer now 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 at this hyperlink. Company insiders own 4.30% of the company’s stock.

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.