Townsquare Capital LLC Acquires New Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Townsquare Capital LLC bought a new position in EPAM Systems, Inc. (NYSE:EPAM) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 32,333 shares of the information technology services provider’s stock, valued at approximately $6,435,000.

A number of other large investors have also added to or reduced their stakes in the stock. California State Teachers Retirement System increased its position in EPAM Systems by 1.4% during the first quarter. California State Teachers Retirement System now owns 91,536 shares of the information technology services provider’s stock valued at $25,279,000 after acquiring an additional 1,260 shares during the last quarter. Tidal Investments LLC increased its position in shares of EPAM Systems by 17.2% during the 1st quarter. Tidal Investments LLC now owns 3,167 shares of the information technology services provider’s stock valued at $875,000 after purchasing an additional 464 shares during the last quarter. Comerica Bank lifted its stake in shares of EPAM Systems by 3.1% in the 1st quarter. Comerica Bank now owns 9,593 shares of the information technology services provider’s stock worth $2,649,000 after purchasing an additional 286 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in shares of EPAM Systems by 1.9% in the first quarter. DekaBank Deutsche Girozentrale now owns 10,473 shares of the information technology services provider’s stock worth $2,859,000 after buying an additional 195 shares during the last quarter. Finally, Polianta Ltd bought a new stake in EPAM Systems during the second quarter valued at approximately $1,185,000. Institutional investors own 91.58% of the company’s stock.

EPAM Systems Stock Down 1.2 %

EPAM opened at $245.79 on Friday. EPAM Systems, Inc. has a 52 week low of $169.43 and a 52 week high of $317.50. The company has a quick ratio of 4.56, a current ratio of 4.56 and a debt-to-equity ratio of 0.01. The firm has a 50-day simple moving average of $209.30 and a two-hundred day simple moving average of $198.82. The company has a market capitalization of $13.94 billion, a PE ratio of 31.92, a price-to-earnings-growth ratio of 3.81 and a beta of 1.46.

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

Wall Street Analyst Weigh In

EPAM has been the topic of several recent research reports. Piper Sandler increased their price target on shares of EPAM Systems from $225.00 to $258.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. StockNews.com upgraded EPAM Systems from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. 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 report on Friday, September 6th. Susquehanna raised their price objective on EPAM Systems from $240.00 to $270.00 and gave the stock a “positive” rating in a research note on Friday, November 8th. Finally, Citigroup boosted 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. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $264.20.

Insider Activity at EPAM Systems

In related news, CFO Jason D. Peterson sold 1,000 shares of the company’s stock in a transaction on 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 owns 24,836 shares of the company’s stock, valued at $5,886,132. This represents a 3.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.30% of the stock is owned by corporate insiders.

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.