SevenBridge Financial Group LLC Decreases Stock Holdings in EPAM Systems, Inc. (NYSE:EPAM)

SevenBridge Financial Group LLC lessened its stake in EPAM Systems, Inc. (NYSE:EPAM) by 17.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,261 shares of the information technology services provider’s stock after selling 490 shares during the quarter. SevenBridge Financial Group LLC’s holdings in EPAM Systems were worth $450,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Acadian Asset Management LLC lifted its stake in shares of EPAM Systems by 238.1% in the first quarter. Acadian Asset Management LLC now owns 399 shares of the information technology services provider’s stock worth $109,000 after buying an additional 281 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of EPAM Systems during the 1st quarter worth approximately $1,023,000. BOKF NA grew its position in shares of EPAM Systems by 11.1% in the first quarter. BOKF NA now owns 7,577 shares of the information technology services provider’s stock valued at $2,061,000 after purchasing an additional 757 shares in the last quarter. Mount Yale Investment Advisors LLC grew its position in shares of EPAM Systems by 122.5% in the first quarter. Mount Yale Investment Advisors LLC now owns 4,825 shares of the information technology services provider’s stock valued at $1,332,000 after purchasing an additional 2,656 shares in the last quarter. Finally, Bayesian Capital Management LP purchased a new position in EPAM Systems during the first quarter worth approximately $1,208,000. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Jason D. Peterson sold 1,000 shares of the stock in a transaction 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 sale, the chief financial officer now directly owns 24,836 shares in the company, valued at approximately $5,886,132. This trade represents a 3.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.30% of the company’s stock.

EPAM Systems Stock Performance

NYSE EPAM opened at $245.27 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. The company has a market cap of $13.91 billion, a P/E ratio of 31.85, a P/E/G ratio of 3.75 and a beta of 1.46. The stock has a 50-day moving average of $206.50 and a two-hundred day moving average of $197.92. EPAM Systems, Inc. has a 1-year low of $169.43 and a 1-year high of $317.50.

EPAM Systems declared that its Board of Directors has initiated 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 reacquire up to 4.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages have issued reports on EPAM. Itau BBA Securities upgraded EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 target price for the company in a report on Friday, November 8th. Mizuho upped 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. StockNews.com upgraded shares of EPAM Systems from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Citigroup boosted their target price on shares of EPAM Systems from $207.00 to $210.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Finally, Susquehanna raised their price target on shares of EPAM Systems from $240.00 to $270.00 and gave the stock a “positive” rating in a report on Friday, November 8th. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average 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.