EPAM Systems, Inc. (NYSE:EPAM) Shares Acquired by Atria Investments Inc

Atria Investments Inc raised its position in EPAM Systems, Inc. (NYSE:EPAM) by 139.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,048 shares of the information technology services provider’s stock after buying an additional 2,356 shares during the period. Atria Investments Inc’s holdings in EPAM Systems were worth $806,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of EPAM. Retirement Systems of Alabama raised its stake in EPAM Systems by 0.4% during the second quarter. Retirement Systems of Alabama now owns 12,788 shares of the information technology services provider’s stock worth $2,406,000 after acquiring an additional 52 shares during the period. Motley Fool Asset Management LLC grew its position in EPAM Systems by 5.2% in the 1st quarter. Motley Fool Asset Management LLC now owns 1,124 shares of the information technology services provider’s stock worth $310,000 after purchasing an additional 56 shares during the last quarter. Taylor Frigon Capital Management LLC increased its stake in shares of EPAM Systems by 0.5% in the second quarter. Taylor Frigon Capital Management LLC now owns 12,339 shares of the information technology services provider’s stock valued at $2,321,000 after purchasing an additional 56 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of EPAM Systems by 1.1% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,788 shares of the information technology services provider’s stock valued at $1,089,000 after buying an additional 63 shares during the last quarter. Finally, V Square Quantitative Management LLC grew its holdings in EPAM Systems by 4.3% in the 3rd quarter. V Square Quantitative Management LLC now owns 1,562 shares of the information technology services provider’s stock worth $311,000 after buying an additional 65 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

Analyst Ratings Changes

EPAM has been the topic of a number of research analyst reports. Scotiabank raised EPAM Systems from a “sector perform” rating to a “sector outperform” rating and raised their price target for the company from $245.00 to $275.00 in a report on Monday, November 11th. Piper Sandler boosted their price objective on EPAM Systems from $225.00 to $258.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Needham & Company LLC lifted their target price on EPAM Systems from $215.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Barclays upped their price target on shares of EPAM Systems from $200.00 to $225.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Finally, Susquehanna boosted their target price on EPAM Systems from $240.00 to $270.00 and gave the stock a “positive” rating in a research report on Friday, November 8th. 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, EPAM Systems currently has a consensus rating of “Moderate Buy” and an average target price of $264.20.

Insider Transactions at EPAM Systems

In related news, CFO Jason D. Peterson sold 1,000 shares of the company’s stock in a transaction 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 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 4.30% of the company’s stock.

EPAM Systems Stock Down 0.8 %

EPAM opened at $233.42 on Tuesday. The stock has a market capitalization of $13.24 billion, a price-to-earnings ratio of 30.31, a P/E/G ratio of 3.60 and a beta of 1.46. EPAM Systems, Inc. has a 1-year low of $169.43 and a 1-year high of $317.50. The business has a 50 day moving average of $203.74 and a 200-day moving average of $197.81. 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 announced that its Board of Directors has authorized a stock repurchase plan on Thursday, August 8th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the information technology services provider to repurchase up to 4.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are 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.