EPAM Systems, Inc. (NYSE:EPAM) Position Trimmed by Fmr LLC

Fmr LLC reduced its holdings in EPAM Systems, Inc. (NYSE:EPAM) by 3.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,838,286 shares of the information technology services provider’s stock after selling 71,192 shares during the quarter. Fmr LLC owned approximately 3.24% of EPAM Systems worth $365,874,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tidal Investments LLC increased its position in EPAM Systems by 17.2% in the first quarter. Tidal Investments LLC now owns 3,167 shares of the information technology services provider’s stock worth $875,000 after buying an additional 464 shares during the period. Comerica Bank lifted its position in EPAM Systems by 3.1% in the 1st quarter. Comerica Bank now owns 9,593 shares of the information technology services provider’s stock valued at $2,649,000 after purchasing an additional 286 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position in EPAM Systems by 1.9% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 10,473 shares of the information technology services provider’s stock valued at $2,859,000 after purchasing an additional 195 shares during the last quarter. CWM LLC grew its position in EPAM Systems by 28.6% in the 2nd quarter. CWM LLC now owns 1,857 shares of the information technology services provider’s stock worth $349,000 after purchasing an additional 413 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC increased its stake in shares of EPAM Systems by 32.6% in the second quarter. Linden Thomas Advisory Services LLC now owns 12,047 shares of the information technology services provider’s stock valued at $2,266,000 after purchasing an additional 2,963 shares during the period. 91.58% of the stock is owned by institutional investors and hedge funds.

Insider Activity at EPAM Systems

In other EPAM Systems news, CFO Jason D. Peterson sold 1,000 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $237.00, for a total transaction of $237,000.00. Following the sale, the chief financial officer now owns 24,836 shares of the company’s stock, valued at $5,886,132. This represents a 3.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.30% of the company’s stock.

EPAM Systems Price Performance

NYSE EPAM opened at $243.92 on Friday. The firm has a market capitalization of $13.84 billion, a price-to-earnings ratio of 31.68, a price-to-earnings-growth ratio of 3.76 and a beta of 1.46. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.56 and a quick ratio of 4.56. EPAM Systems, Inc. has a 52-week low of $169.43 and a 52-week high of $317.50. The company has a 50 day simple moving average of $211.19 and a 200-day simple moving average of $199.52.

EPAM Systems announced that its Board of Directors has authorized a share repurchase plan on Thursday, August 8th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the information technology services provider to buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

EPAM has been the topic of several analyst reports. Susquehanna raised their target price on EPAM Systems from $240.00 to $270.00 and gave the company a “positive” rating in a research report on Friday, November 8th. StockNews.com raised EPAM Systems from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. JPMorgan Chase & Co. lifted their price objective on shares of EPAM Systems from $222.00 to $262.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Needham & Company LLC increased their target price on shares of EPAM Systems from $215.00 to $265.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of EPAM Systems in a research report on Thursday, August 22nd. They set a “hold” rating and a $204.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $264.20.

EPAM Systems 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.