Washington Harbour Partners LP Makes New $935,000 Investment in EPAM Systems, Inc. (NYSE:EPAM)

Washington Harbour Partners LP acquired a new stake in shares of EPAM Systems, Inc. (NYSE:EPAM) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,700 shares of the information technology services provider’s stock, valued at approximately $935,000. EPAM Systems comprises 1.7% of Washington Harbour Partners LP’s portfolio, making the stock its 21st largest holding.

A number of other hedge funds also recently added to or reduced their stakes in the stock. ORG Partners LLC boosted its position in shares of EPAM Systems by 5,000.0% during the 2nd quarter. ORG Partners LLC now owns 153 shares of the information technology services provider’s stock worth $28,000 after purchasing an additional 150 shares in the last quarter. Opal Wealth Advisors LLC purchased a new position in EPAM Systems in the second quarter valued at about $29,000. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of EPAM Systems by 181.8% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 155 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 100 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in EPAM Systems by 101.0% during the third quarter. Farther Finance Advisors LLC now owns 211 shares of the information technology services provider’s stock worth $42,000 after purchasing an additional 106 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in EPAM Systems during the third quarter worth $44,000. 91.58% of the stock is owned by institutional investors and hedge funds.

EPAM Systems Stock Performance

Shares of EPAM stock opened at $240.37 on Friday. EPAM Systems, Inc. has a 12 month low of $169.43 and a 12 month high of $317.50. The firm has a market capitalization of $13.63 billion, a P/E ratio of 31.22, a P/E/G ratio of 3.68 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. The company’s fifty day moving average price is $214.61 and its two-hundred day moving average price is $200.99.

EPAM Systems declared that its Board of Directors has initiated a share buyback 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 buy up to 4.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at EPAM Systems

In other news, CFO Jason D. Peterson sold 1,000 shares of EPAM Systems stock in a transaction that occurred on Thursday, November 7th. The stock was 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 approximately $5,886,132. This trade represents a 3.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Susquehanna raised their target price on shares of EPAM Systems from $240.00 to $270.00 and gave the company a “positive” rating in a report on Friday, November 8th. JPMorgan Chase & Co. increased their target price on EPAM Systems from $222.00 to $262.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Scotiabank raised EPAM Systems from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $245.00 to $275.00 in a report on Monday, November 11th. Itau BBA Securities raised shares of EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 price target on the stock in a research note on Friday, November 8th. Finally, Citigroup boosted their price objective on shares of EPAM Systems from $207.00 to $210.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, EPAM Systems presently has an average rating of “Moderate Buy” and an average price target of $268.95.

About EPAM Systems

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.