Sumitomo Mitsui Trust Group Inc. Boosts Stake in EPAM Systems, Inc. (NYSE:EPAM)

Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM) by 1.9% during the third quarter, Holdings Channel reports. The fund owned 127,156 shares of the information technology services provider’s stock after purchasing an additional 2,372 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in EPAM Systems were worth $25,308,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of EPAM. Janney Montgomery Scott LLC acquired a new position in shares of EPAM Systems in the 1st quarter valued at approximately $272,000. Empowered Funds LLC acquired a new stake in EPAM Systems in the first quarter valued at $220,000. Avantax Advisory Services Inc. grew its holdings in EPAM Systems by 9.2% during the 1st quarter. Avantax Advisory Services Inc. now owns 1,701 shares of the information technology services provider’s stock worth $470,000 after acquiring an additional 143 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of EPAM Systems by 17.8% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,790 shares of the information technology services provider’s stock valued at $770,000 after purchasing an additional 422 shares in the last quarter. Finally, Blair William & Co. IL lifted its position in shares of EPAM Systems by 26.9% during the first quarter. Blair William & Co. IL now owns 14,457 shares of the information technology services provider’s stock worth $3,992,000 after purchasing an additional 3,067 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

EPAM Systems Stock Down 3.9 %

Shares of EPAM Systems stock opened at $235.29 on Friday. 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, Inc. has a 1-year low of $169.43 and a 1-year high of $317.50. The business’s fifty day moving average price is $203.19 and its two-hundred day moving average price is $198.10. The company has a market capitalization of $13.35 billion, a P/E ratio of 30.56, a PEG 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 permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the information technology services provider to purchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Jefferies Financial Group boosted their price objective on EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 9th. Deutsche Bank Aktiengesellschaft started coverage on EPAM Systems in a report on Thursday, August 22nd. They issued a “hold” rating and a $204.00 price target for the company. Piper Sandler raised their price objective on EPAM Systems from $225.00 to $258.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Barclays boosted their target price on shares of 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, Needham & Company LLC raised their price target on shares of EPAM Systems from $215.00 to $265.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $264.20.

Insider Activity

In other 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 value of $237,000.00. Following the completion of the sale, the chief financial officer now directly owns 24,836 shares of the company’s stock, valued at approximately $5,886,132. This represents a 3.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 4.30% of the company’s stock.

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.