EPAM Systems, Inc. (NYSE:EPAM) Shares Acquired by Commerce Bank

Commerce Bank increased its stake in shares of EPAM Systems, Inc. (NYSE:EPAM) by 3.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,381 shares of the information technology services provider’s stock after purchasing an additional 109 shares during the period. Commerce Bank’s holdings in EPAM Systems were worth $673,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EPAM. Acadian Asset Management LLC raised its stake in shares of EPAM Systems by 238.1% during the first quarter. Acadian Asset Management LLC now owns 399 shares of the information technology services provider’s stock valued at $109,000 after purchasing an additional 281 shares during the period. Bayesian Capital Management LP purchased a new stake in EPAM Systems during the 1st quarter worth $1,208,000. California State Teachers Retirement System lifted its holdings in EPAM Systems by 1.4% in the 1st quarter. California State Teachers Retirement System now owns 91,536 shares of the information technology services provider’s stock worth $25,279,000 after buying an additional 1,260 shares in the last quarter. Motley Fool Asset Management LLC boosted 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 valued at $310,000 after buying an additional 56 shares during the last quarter. Finally, Tidal Investments LLC grew its stake in shares of EPAM Systems by 17.2% during the first quarter. Tidal Investments LLC now owns 3,167 shares of the information technology services provider’s stock valued at $875,000 after acquiring an additional 464 shares in the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

EPAM Systems Stock Up 1.6 %

Shares of NYSE:EPAM opened at $249.10 on Tuesday. The firm has a 50 day simple moving average of $207.37 and a 200 day simple moving average of $198.03. EPAM Systems, Inc. has a 52 week low of $169.43 and a 52 week 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. The company has a market cap of $14.13 billion, a PE ratio of 32.35, a price-to-earnings-growth ratio of 3.75 and a beta of 1.46.

EPAM Systems announced that its Board of Directors has approved a share buyback 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 a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at EPAM Systems

In other news, CFO Jason D. Peterson sold 1,000 shares of EPAM Systems stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $237.00, for a total transaction of $237,000.00. Following the transaction, the chief financial officer now owns 24,836 shares in the company, valued at approximately $5,886,132. The trade was a 3.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 4.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Jefferies Financial Group increased their price target on EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 9th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of EPAM Systems in a research report on Thursday, August 22nd. They set a “hold” rating and a $204.00 price target for the company. Piper Sandler upped their price target on shares of EPAM Systems from $225.00 to $258.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Mizuho raised their price objective on shares of EPAM Systems from $245.00 to $282.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Scotiabank raised shares of EPAM Systems from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $245.00 to $275.00 in a research report on Monday, November 11th. Eight research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, EPAM Systems currently has an average 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.