EPAM Systems, Inc. (NYSE:EPAM) Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. grew its position in EPAM Systems, Inc. (NYSE:EPAM) by 10.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 15,448 shares of the information technology services provider’s stock after acquiring an additional 1,414 shares during the period. PNC Financial Services Group Inc.’s holdings in EPAM Systems were worth $3,075,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. ORG Partners LLC grew its stake in shares of EPAM Systems by 5,000.0% in the second quarter. ORG Partners LLC now owns 153 shares of the information technology services provider’s stock valued at $28,000 after buying an additional 150 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of EPAM Systems in the second quarter valued at $29,000. Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of EPAM Systems by 181.8% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 155 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 100 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of EPAM Systems by 101.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 211 shares of the information technology services provider’s stock worth $42,000 after acquiring an additional 106 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in shares of EPAM Systems during the 3rd quarter worth about $44,000. 91.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on EPAM. Susquehanna upped their price objective on EPAM Systems from $240.00 to $270.00 and gave the stock a “positive” rating in a research report on Friday, November 8th. Mizuho upped their price objective on EPAM Systems from $245.00 to $282.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Piper Sandler upped their price objective on EPAM Systems from $225.00 to $258.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Needham & Company LLC upped their price objective on EPAM Systems from $215.00 to $265.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft began coverage on EPAM Systems in a research report on Thursday, August 22nd. They set a “hold” rating and a $204.00 price objective for the company. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $264.20.

Insiders Place Their Bets

In other EPAM Systems news, CFO Jason D. Peterson sold 1,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was 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 directly owns 24,836 shares of the company’s stock, valued at approximately $5,886,132. This trade represents a 3.87 % decrease in their position. The transaction 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 owned by insiders.

EPAM Systems Stock Up 0.0 %

EPAM Systems stock opened at $245.27 on Monday. EPAM Systems, Inc. has a twelve month low of $169.43 and a twelve month high of $317.50. The stock has a 50 day moving average of $206.50 and a two-hundred day moving average of $197.56. The company has a current ratio of 4.56, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $13.91 billion, a price-to-earnings ratio of 31.85, a PEG ratio of 3.75 and a beta of 1.46.

EPAM Systems declared that its Board of Directors has initiated a share repurchase program on Thursday, August 8th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the information technology services provider to repurchase up to 4.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its stock is 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.