Empowered Funds LLC Purchases New Position in EPAM Systems, Inc. (NYSE:EPAM)

Empowered Funds LLC acquired a new position in shares of EPAM Systems, Inc. (NYSE:EPAM) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 37,870 shares of the information technology services provider’s stock, valued at approximately $7,537,000. Empowered Funds LLC owned 0.07% of EPAM Systems as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of EPAM Systems by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 6,865,123 shares of the information technology services provider’s stock valued at $1,895,872,000 after purchasing an additional 39,531 shares in the last quarter. Pacer Advisors Inc. raised its stake in EPAM Systems by 14,325.2% in the second quarter. Pacer Advisors Inc. now owns 657,070 shares of the information technology services provider’s stock worth $123,601,000 after buying an additional 652,515 shares in the last quarter. TD Asset Management Inc lifted its holdings in EPAM Systems by 80.0% during the second quarter. TD Asset Management Inc now owns 595,486 shares of the information technology services provider’s stock worth $112,017,000 after buying an additional 264,570 shares during the period. Manning & Napier Advisors LLC bought a new stake in EPAM Systems during the 2nd quarter valued at $84,850,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of EPAM Systems by 4.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 379,834 shares of the information technology services provider’s stock valued at $71,451,000 after acquiring an additional 15,116 shares during the period. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Susquehanna raised their price objective on EPAM Systems from $240.00 to $270.00 and gave the company a “positive” rating in a research report on Friday, November 8th. StockNews.com upgraded shares of EPAM Systems from a “hold” rating to a “buy” rating in a report on Friday. Deutsche Bank Aktiengesellschaft began coverage on shares of EPAM Systems in a research note on Thursday, August 22nd. They set a “hold” rating and a $204.00 price objective for the company. Barclays raised their target price on shares of EPAM Systems from $200.00 to $225.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Finally, Mizuho upped their price target on EPAM Systems from $245.00 to $282.00 and gave the stock an “outperform” rating in a research report on Wednesday. Eight research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $264.20.

Insider Transactions 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 stock was sold at an average price of $237.00, for a total value of $237,000.00. Following the sale, the chief financial officer now owns 24,836 shares in the company, valued at $5,886,132. This represents a 3.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.30% of the company’s stock.

EPAM Systems Stock Performance

EPAM opened at $235.29 on Friday. 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, Inc. has a 12-month low of $169.43 and a 12-month high of $317.50. The firm has a 50 day moving average of $203.19 and a two-hundred day moving average of $198.10. The firm has a market capitalization of $13.35 billion, a PE ratio of 30.56, a P/E/G ratio of 3.81 and a beta of 1.46.

EPAM Systems announced that its board has approved a stock buyback program on Thursday, August 8th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is 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.