Entropy Technologies LP Lowers Stake in EPAM Systems, Inc. (NYSE:EPAM)

Entropy Technologies LP cut its position in EPAM Systems, Inc. (NYSE:EPAM) by 75.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,301 shares of the information technology services provider’s stock after selling 3,900 shares during the period. Entropy Technologies LP’s holdings in EPAM Systems were worth $259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Versor Investments LP boosted its holdings in EPAM Systems by 92.5% in the 3rd quarter. Versor Investments LP now owns 3,078 shares of the information technology services provider’s stock worth $613,000 after buying an additional 1,479 shares during the period. Venturi Wealth Management LLC boosted its stake in shares of EPAM Systems by 45.2% in the third quarter. Venturi Wealth Management LLC now owns 527 shares of the information technology services provider’s stock worth $105,000 after acquiring an additional 164 shares during the period. State of New Jersey Common Pension Fund D raised its stake in EPAM Systems by 0.8% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 54,598 shares of the information technology services provider’s stock valued at $10,867,000 after purchasing an additional 427 shares during the period. Truxt Investmentos Ltda. bought a new stake in EPAM Systems during the 3rd quarter valued at approximately $1,905,000. Finally, Covestor Ltd boosted its stake in EPAM Systems by 16.4% in the 3rd quarter. Covestor Ltd now owns 490 shares of the information technology services provider’s stock worth $98,000 after purchasing an additional 69 shares during the period. 91.58% of the stock is currently owned by institutional investors.

Insider Activity

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 shares were sold at an average price of $237.00, for a total transaction of $237,000.00. Following the completion of the sale, the chief financial officer now owns 24,836 shares of the company’s stock, valued at approximately $5,886,132. The trade was a 3.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 4.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on EPAM. Scotiabank raised shares of EPAM Systems from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $245.00 to $275.00 in a report on Monday, November 11th. JPMorgan Chase & Co. increased their price objective on shares of EPAM Systems from $222.00 to $262.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Mizuho lifted their target price on EPAM Systems from $245.00 to $282.00 and gave the stock an “outperform” rating in a report on Wednesday. Barclays increased their price target on 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, Citigroup upped their price objective on EPAM Systems from $207.00 to $210.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, EPAM Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $264.20.

EPAM Systems Price Performance

EPAM opened at $235.29 on Friday. The business has a fifty day moving average of $203.19 and a 200 day moving average of $198.10. The stock has a market cap of $13.35 billion, a P/E ratio of 30.56, a PEG ratio of 3.81 and a beta of 1.46. The company has a quick ratio of 4.56, a current ratio of 4.56 and a debt-to-equity ratio of 0.01. EPAM Systems, Inc. has a 52-week low of $169.43 and a 52-week high of $317.50.

EPAM Systems announced that its Board of Directors has authorized a share buyback plan on Thursday, August 8th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the information technology services provider to purchase up to 4.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership 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.