Point72 Hong Kong Ltd Acquires New Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Point72 Hong Kong Ltd bought a new position in shares of EPAM Systems, Inc. (NYSE:EPAM) during the third quarter, Holdings Channel reports. The fund bought 544 shares of the information technology services provider’s stock, valued at approximately $108,000.

Several other large investors have also recently modified their holdings of the business. Pacer Advisors Inc. boosted its position in shares of EPAM Systems by 14,325.2% during the 2nd quarter. Pacer Advisors Inc. now owns 657,070 shares of the information technology services provider’s stock valued at $123,601,000 after purchasing an additional 652,515 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in EPAM Systems in the second quarter valued at approximately $84,850,000. Massachusetts Financial Services Co. MA increased its holdings in shares of EPAM Systems by 643.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 417,526 shares of the information technology services provider’s stock valued at $83,100,000 after acquiring an additional 361,363 shares in the last quarter. TD Asset Management Inc raised its position in shares of 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 purchasing an additional 264,570 shares during the period. Finally, Acadian Asset Management LLC lifted its holdings in shares of 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 worth $35,560,000 after purchasing an additional 188,704 shares in the last quarter. Institutional investors own 91.58% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on EPAM. Needham & Company LLC upped their price objective on shares of EPAM Systems from $215.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of EPAM Systems in a research report on Thursday, August 22nd. They issued a “hold” rating and a $204.00 price target on the stock. Susquehanna boosted their price objective on EPAM Systems from $240.00 to $270.00 and gave the stock a “positive” rating in a report on Friday, November 8th. Scotiabank raised EPAM Systems from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $245.00 to $275.00 in a research report on Monday, November 11th. Finally, Mizuho increased their price target on EPAM Systems from $245.00 to $282.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $264.20.

Insider Buying and Selling at EPAM Systems

In related news, CFO Jason D. Peterson sold 1,000 shares of the company’s stock in a transaction that occurred 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 directly owns 24,836 shares in the company, valued at approximately $5,886,132. This represents a 3.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 4.30% of the company’s stock.

EPAM Systems Stock Down 1.4 %

Shares of NYSE EPAM opened at $240.47 on Wednesday. The business’s fifty day moving average price is $212.10 and its 200-day moving average price is $200.05. EPAM Systems, Inc. has a one year low of $169.43 and a one year high of $317.50. The stock has a market capitalization of $13.64 billion, a PE ratio of 31.23, a P/E/G ratio of 3.73 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 declared that its board has approved a share buyback program on Thursday, August 8th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the information technology services provider to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

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.