Massachusetts Financial Services Co. MA Grows Stock Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Massachusetts Financial Services Co. MA increased its stake in EPAM Systems, Inc. (NYSE:EPAM) by 643.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 417,526 shares of the information technology services provider’s stock after purchasing an additional 361,363 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in EPAM Systems were worth $83,100,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. ORG Partners LLC boosted its stake in shares of EPAM Systems by 5,000.0% in the 2nd quarter. ORG Partners LLC now owns 153 shares of the information technology services provider’s stock worth $28,000 after buying an additional 150 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in EPAM Systems in the second quarter valued at about $29,000. Livforsakringsbolaget Skandia Omsesidigt boosted its position in EPAM Systems by 181.8% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 155 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 100 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of EPAM Systems by 101.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 211 shares of the information technology services provider’s stock valued at $42,000 after purchasing an additional 106 shares during the period. Finally, Capital Performance Advisors LLP purchased a new stake in shares of EPAM Systems during the 3rd quarter valued at about $44,000. Institutional investors own 91.58% of the company’s stock.

Insider Activity at EPAM Systems

In other news, CFO Jason D. Peterson sold 1,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $237.00, for a total transaction of $237,000.00. Following the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.30% of the stock is currently owned by insiders.

EPAM Systems Stock Performance

NYSE EPAM opened at $245.27 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.56 and a quick ratio of 4.56. 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 simple moving average of $206.50 and a two-hundred day simple moving average of $197.56. The stock has a market capitalization of $13.91 billion, a PE ratio of 31.85, a P/E/G ratio of 3.75 and a beta of 1.46.

EPAM Systems announced that its Board of Directors has initiated a share repurchase plan 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 purchase up to 4.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. StockNews.com raised shares of EPAM Systems from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Needham & Company LLC boosted their price objective 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. Scotiabank upgraded EPAM Systems from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $245.00 to $275.00 in a research report on Monday, November 11th. Itau BBA Securities raised EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 price objective on the stock in a research note on Friday, November 8th. Finally, Citigroup increased their target price on shares of EPAM Systems from $207.00 to $210.00 and gave the stock a “neutral” rating in a 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 data from MarketBeat, EPAM Systems currently has a consensus rating of “Moderate Buy” and an average target price of $264.20.

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.