EPAM Systems, Inc. (NYSE:EPAM) Stock Position Increased by Aurora Investment Counsel

Aurora Investment Counsel increased its stake in EPAM Systems, Inc. (NYSE:EPAM) by 3.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,056 shares of the information technology services provider’s stock after acquiring an additional 191 shares during the quarter. Aurora Investment Counsel’s holdings in EPAM Systems were worth $1,205,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. First Horizon Advisors Inc. grew its holdings in shares of EPAM Systems by 21.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 325 shares of the information technology services provider’s stock worth $65,000 after acquiring an additional 57 shares during the last quarter. Commerce Bank grew its holdings in shares of EPAM Systems by 3.3% in the 3rd quarter. Commerce Bank now owns 3,381 shares of the information technology services provider’s stock worth $673,000 after acquiring an additional 109 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of EPAM Systems by 10.1% during the third quarter. PNC Financial Services Group Inc. now owns 15,448 shares of the information technology services provider’s stock valued at $3,075,000 after buying an additional 1,414 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of EPAM Systems during the third quarter valued at $291,000. Finally, Pathstone Holdings LLC grew its holdings in shares of EPAM Systems by 32.6% during the third quarter. Pathstone Holdings LLC now owns 14,249 shares of the information technology services provider’s stock valued at $2,836,000 after buying an additional 3,507 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at EPAM Systems

In other 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 value of $237,000.00. Following the completion of the transaction, 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 filing with the SEC, which is accessible through the SEC website. 4.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on EPAM. Jefferies Financial Group lifted their price target on EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 9th. Susquehanna boosted their target price on EPAM Systems from $240.00 to $270.00 and gave the company a “positive” rating in a research note on Friday, November 8th. Itau BBA Securities upgraded EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 target price on the stock in a research note on Friday, November 8th. StockNews.com upgraded EPAM Systems from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Finally, Scotiabank upgraded EPAM Systems from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $245.00 to $275.00 in a research note on Monday, November 11th. Eight equities research 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 stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $264.20.

EPAM Systems Trading Up 3.0 %

Shares of EPAM opened at $234.50 on Thursday. EPAM Systems, Inc. has a 1 year low of $169.43 and a 1 year high of $317.50. 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 50 day simple moving average of $204.78 and a 200-day simple moving average of $197.96. The stock has a market cap of $13.30 billion, a PE ratio of 30.45, a PEG ratio of 3.48 and a beta of 1.46.

EPAM Systems announced that its board has authorized a share buyback plan 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 plans are often a sign that the company’s board of directors 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.