EPAM Systems, Inc. (NYSE:EPAM) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. increased its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 247.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 72,447 shares of the information technology services provider’s stock after buying an additional 51,603 shares during the quarter. Victory Capital Management Inc.’s holdings in EPAM Systems were worth $14,419,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of EPAM. Retirement Systems of Alabama grew its stake in EPAM Systems by 0.4% during the 2nd quarter. Retirement Systems of Alabama now owns 12,788 shares of the information technology services provider’s stock valued at $2,406,000 after acquiring an additional 52 shares in the last quarter. Motley Fool Asset Management LLC lifted its position in shares of EPAM Systems by 5.2% during the first 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 in the last quarter. Taylor Frigon Capital Management LLC boosted its position in EPAM Systems by 0.5% in the 2nd 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 buying an additional 56 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in EPAM Systems by 1.1% in 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 purchasing an additional 63 shares during the period. Finally, V Square Quantitative Management LLC grew its position in shares of EPAM Systems by 4.3% during the third 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. 91.58% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at EPAM Systems

In other news, CFO Jason D. Peterson sold 1,000 shares of the stock in a transaction dated 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 owns 24,836 shares in the company, valued at approximately $5,886,132. This trade represents a 3.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

EPAM has been the subject of a number of recent analyst reports. Itau BBA Securities raised EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 price target for the company in a report on Friday, November 8th. JPMorgan Chase & Co. upped their price target on EPAM Systems from $222.00 to $262.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. StockNews.com upgraded shares of EPAM Systems from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Jefferies Financial Group raised their target price on shares of EPAM Systems from $237.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Finally, Deutsche Bank Aktiengesellschaft started coverage on EPAM Systems in a research report on Thursday, August 22nd. They issued a “hold” rating and a $204.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, EPAM Systems presently has a consensus rating of “Moderate Buy” and an average target price of $264.20.

EPAM Systems Stock Down 2.5 %

Shares of NYSE:EPAM opened at $227.56 on Wednesday. The stock has a 50-day simple moving average of $204.16 and a 200-day simple moving average of $197.70. The stock has a market capitalization of $12.91 billion, a P/E ratio of 29.55, a PEG 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 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 declared that its board has approved a share 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 repurchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

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.