Point72 Hong Kong Ltd Makes New Investment in EPAM Systems, Inc. (NYSE:EPAM)

Point72 Hong Kong Ltd acquired a new stake in EPAM Systems, Inc. (NYSE:EPAM) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 544 shares of the information technology services provider’s stock, valued at approximately $108,000.

Several other institutional investors also recently modified their holdings of the company. ORG Partners LLC raised its stake in EPAM Systems by 5,000.0% in the 2nd quarter. ORG Partners LLC now owns 153 shares of the information technology services provider’s stock valued at $28,000 after acquiring an additional 150 shares during the period. Opal Wealth Advisors LLC bought a new position in shares of EPAM Systems in the second quarter valued at about $29,000. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of EPAM Systems by 181.8% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 155 shares of the information technology services provider’s stock worth $31,000 after buying an additional 100 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings 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 buying an additional 106 shares during the period. Finally, Capital Performance Advisors LLP acquired a new position in EPAM Systems in the 3rd quarter valued at about $44,000. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other EPAM Systems news, CFO Jason D. Peterson sold 1,000 shares of the business’s stock in a transaction on 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 approximately $5,886,132. The trade was a 3.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 4.30% of the company’s stock.

EPAM Systems Price Performance

EPAM Systems stock opened at $240.47 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 4.56. EPAM Systems, Inc. has a 52 week low of $169.43 and a 52 week high of $317.50. The stock has a market capitalization of $13.64 billion, a P/E ratio of 31.23, a price-to-earnings-growth ratio of 3.73 and a beta of 1.49. The stock has a fifty day moving average of $212.10 and a 200-day moving average of $200.05.

EPAM Systems announced that its Board of Directors has authorized a share repurchase program on Thursday, August 8th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the information technology services provider to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages have issued reports on EPAM. Susquehanna raised their price objective on shares of EPAM Systems from $240.00 to $270.00 and gave the stock a “positive” rating in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft assumed coverage on EPAM Systems in a research note on Thursday, August 22nd. They issued a “hold” rating and a $204.00 price target for the company. Needham & Company LLC increased 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. Piper Sandler boosted their target price on shares of EPAM Systems from $225.00 to $258.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. raised their price target on shares of EPAM Systems from $222.00 to $262.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $264.20.

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.