EPAM Systems, Inc. (NYSE:EPAM) Shares Acquired by First Horizon Advisors Inc.

First Horizon Advisors Inc. increased its position in EPAM Systems, Inc. (NYSE:EPAM) by 21.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 325 shares of the information technology services provider’s stock after buying an additional 57 shares during the quarter. First Horizon Advisors Inc.’s holdings in EPAM Systems were worth $65,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in EPAM. Metis Global Partners LLC boosted its stake in shares of EPAM Systems by 2.5% during the 3rd quarter. Metis Global Partners LLC now owns 2,029 shares of the information technology services provider’s stock valued at $404,000 after buying an additional 50 shares during the last quarter. Retirement Systems of Alabama increased its holdings in shares of EPAM Systems by 0.4% in the 2nd quarter. Retirement Systems of Alabama now owns 12,788 shares of the information technology services provider’s stock valued at $2,406,000 after acquiring an additional 52 shares during the last quarter. Motley Fool Asset Management LLC lifted its stake in EPAM Systems by 5.2% during the first quarter. Motley Fool Asset Management LLC now owns 1,124 shares of the information technology services provider’s stock worth $310,000 after purchasing an additional 56 shares during the last quarter. Taylor Frigon Capital Management LLC boosted its holdings in EPAM Systems by 0.5% in the second quarter. Taylor Frigon Capital Management LLC now owns 12,339 shares of the information technology services provider’s stock worth $2,321,000 after purchasing an additional 56 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in EPAM Systems by 1.1% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,788 shares of the information technology services provider’s stock valued at $1,089,000 after purchasing an additional 63 shares during the last quarter. 91.58% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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 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 owns 24,836 shares in the company, valued at $5,886,132. This represents a 3.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.30% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on EPAM. Scotiabank upgraded shares of EPAM Systems from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $245.00 to $275.00 in a research report on Monday, November 11th. JPMorgan Chase & Co. raised their target price on EPAM Systems from $222.00 to $262.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Itau BBA Securities raised shares of EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 price objective on the stock in a report on Friday, November 8th. Mizuho boosted their target price on shares of EPAM Systems from $245.00 to $282.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Piper Sandler raised their price target on shares of EPAM Systems from $225.00 to $258.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $264.20.

EPAM Systems Stock Performance

EPAM Systems stock opened at $245.27 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.56 and a quick ratio of 4.56. The company has a market cap of $13.91 billion, a P/E ratio of 31.85, a price-to-earnings-growth ratio of 3.75 and a beta of 1.46. EPAM Systems, Inc. has a fifty-two week low of $169.43 and a fifty-two week high of $317.50. The firm’s 50 day simple moving average is $206.50 and its 200-day simple moving average is $197.56.

EPAM Systems announced that its board has initiated a share buyback plan on Thursday, August 8th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the information technology services provider to purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are 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.