EPAM Systems, Inc. (NYSE:EPAM) Shares Sold by Blueshift Asset Management LLC

Blueshift Asset Management LLC lowered its holdings in EPAM Systems, Inc. (NYSE:EPAM) by 32.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,448 shares of the information technology services provider’s stock after selling 1,658 shares during the quarter. Blueshift Asset Management LLC’s holdings in EPAM Systems were worth $686,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Pacer Advisors Inc. lifted its position 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 valued at $123,601,000 after buying an additional 652,515 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in shares of EPAM Systems in the 2nd quarter valued at approximately $84,850,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of EPAM Systems by 643.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 417,526 shares of the information technology services provider’s stock worth $83,100,000 after acquiring an additional 361,363 shares during the last quarter. TD Asset Management Inc boosted its position in shares of EPAM Systems by 80.0% during the 2nd quarter. TD Asset Management Inc now owns 595,486 shares of the information technology services provider’s stock worth $112,017,000 after purchasing an additional 264,570 shares during the period. Finally, Acadian Asset Management LLC increased its holdings in EPAM Systems by 47,294.2% in the 2nd quarter. Acadian Asset Management LLC now owns 189,103 shares of the information technology services provider’s stock valued at $35,560,000 after purchasing an additional 188,704 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

EPAM Systems Stock Down 1.1 %

Shares of NYSE EPAM opened at $245.84 on Thursday. The business has a 50-day moving average of $208.34 and a two-hundred day moving average of $198.49. The company has a market capitalization of $13.94 billion, a price-to-earnings ratio of 31.71, a price-to-earnings-growth ratio of 3.81 and a beta of 1.46. EPAM Systems, Inc. has a 1 year low of $169.43 and a 1 year high of $317.50. 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 declared that its board has approved a stock repurchase program on Thursday, August 8th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the information technology services provider to buy up to 4.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at EPAM Systems

In other EPAM Systems 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 value of $237,000.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 4.30% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Deutsche Bank Aktiengesellschaft started coverage on EPAM Systems in a research note on Thursday, August 22nd. They set a “hold” rating and a $204.00 price target on the stock. Mizuho increased their target price on EPAM Systems from $245.00 to $282.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Piper Sandler lifted their target price on EPAM Systems from $225.00 to $258.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Citigroup boosted their price target on shares of EPAM Systems from $207.00 to $210.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Finally, Jefferies Financial Group increased their price target on shares of EPAM Systems from $237.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $264.20.

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.