M&T Bank Corp Grows Stock Holdings in EPAM Systems, Inc. (NYSE:EPAM)

M&T Bank Corp lifted its position in EPAM Systems, Inc. (NYSE:EPAM) by 3.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,217 shares of the information technology services provider’s stock after buying an additional 380 shares during the quarter. M&T Bank Corp’s holdings in EPAM Systems were worth $2,631,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Geneva Capital Management LLC lifted its position in shares of EPAM Systems by 6.0% during the third quarter. Geneva Capital Management LLC now owns 71,281 shares of the information technology services provider’s stock worth $14,187,000 after purchasing an additional 4,027 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in EPAM Systems in the 3rd quarter valued at approximately $8,195,000. Victory Capital Management Inc. grew its stake in shares of EPAM Systems by 247.6% in the third quarter. Victory Capital Management Inc. now owns 72,447 shares of the information technology services provider’s stock worth $14,419,000 after acquiring an additional 51,603 shares in the last quarter. Raymond James & Associates increased its position in shares of EPAM Systems by 1,741.1% during the third quarter. Raymond James & Associates now owns 36,694 shares of the information technology services provider’s stock worth $7,303,000 after acquiring an additional 34,701 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of EPAM Systems by 251.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 19,128 shares of the information technology services provider’s stock valued at $3,807,000 after acquiring an additional 13,690 shares in the last quarter. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

EPAM Systems Stock Down 2.2 %

EPAM Systems stock opened at $244.64 on Friday. The stock’s 50 day moving average price is $220.73 and its 200 day moving average price is $203.57. The company has a market cap of $13.88 billion, a PE ratio of 31.77, a price-to-earnings-growth ratio of 3.87 and a beta of 1.49. 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.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on EPAM shares. Citigroup lifted their price objective on EPAM Systems from $207.00 to $210.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. 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 objective for the company. Needham & Company LLC increased their target price on EPAM Systems from $215.00 to $265.00 and gave the company a “buy” rating in a report on Friday, November 8th. Piper Sandler upped their price objective on EPAM Systems from $225.00 to $258.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Finally, StockNews.com raised EPAM Systems from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $268.95.

Insiders Place Their Bets

In related news, CFO Jason D. Peterson sold 1,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were 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 $5,886,132. This trade represents a 3.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Viktar Dvorkin sold 6,758 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $256.53, for a total transaction of $1,733,629.74. Following the transaction, the senior vice president now owns 13,000 shares in the company, valued at $3,334,890. The trade was a 34.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,222 shares of company stock worth $2,089,878. Corporate insiders own 4.30% of the company’s stock.

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.