EPAM Systems, Inc. (NYSE:EPAM) Shares Bought by Quest Partners LLC

Quest Partners LLC grew its position in EPAM Systems, Inc. (NYSE:EPAM) by 36.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 645 shares of the information technology services provider’s stock after acquiring an additional 173 shares during the period. Quest Partners LLC’s holdings in EPAM Systems were worth $128,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of EPAM. MAI Capital Management grew its stake in EPAM Systems by 10.3% during the 3rd quarter. MAI Capital Management now owns 40,126 shares of the information technology services provider’s stock valued at $7,986,000 after acquiring an additional 3,750 shares in the last quarter. Natixis Advisors LLC lifted its holdings in EPAM Systems by 14.1% in the third quarter. Natixis Advisors LLC now owns 25,627 shares of the information technology services provider’s stock valued at $5,101,000 after acquiring an additional 3,167 shares during the last quarter. Mizuho Securities USA LLC grew its holdings in shares of EPAM Systems by 762.5% during the 3rd quarter. Mizuho Securities USA LLC now owns 38,520 shares of the information technology services provider’s stock worth $7,667,000 after purchasing an additional 34,054 shares during the period. Empirical Finance LLC boosted its stake in EPAM Systems by 5.2% during the third quarter. Empirical Finance LLC now owns 1,362 shares of the information technology services provider’s stock worth $271,000 after buying an additional 67 shares during the period. Finally, Empowered Funds LLC purchased a new position in shares of EPAM Systems during the 3rd quarter worth approximately $7,537,000. 91.58% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at EPAM Systems

In related news, CFO Jason D. Peterson sold 1,000 shares of EPAM Systems stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $237.00, for a total transaction of $237,000.00. Following the transaction, the chief financial officer now directly owns 24,836 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.30% of the company’s stock.

EPAM Systems Stock Performance

EPAM stock opened at $245.79 on Friday. EPAM Systems, Inc. has a 1 year low of $169.43 and a 1 year high of $317.50. The stock has a market capitalization of $13.94 billion, a price-to-earnings ratio of 31.92, a PEG ratio of 3.81 and a beta of 1.46. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 4.56. The stock’s fifty day moving average is $209.30 and its two-hundred day moving average is $198.82.

EPAM Systems declared that its Board of Directors has approved a stock 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 usually an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on EPAM shares. Deutsche Bank Aktiengesellschaft started coverage on EPAM Systems in a research report on Thursday, August 22nd. They issued a “hold” rating and a $204.00 target price for the company. Mizuho lifted their price objective on shares of EPAM Systems from $245.00 to $282.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. raised their price target on shares of EPAM Systems from $222.00 to $262.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. StockNews.com raised EPAM Systems from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Finally, Citigroup lifted their target price on EPAM Systems from $207.00 to $210.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Eight research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $264.20.

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.