Investment Management Corp of Ontario Acquires 600 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Investment Management Corp of Ontario increased its holdings in EPAM Systems, Inc. (NYSE:EPAM) by 46.6% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,888 shares of the information technology services provider’s stock after purchasing an additional 600 shares during the period. Investment Management Corp of Ontario’s holdings in EPAM Systems were worth $376,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. increased its stake in EPAM Systems by 14,325.2% in the 2nd quarter. Pacer Advisors Inc. now owns 657,070 shares of the information technology services provider’s stock worth $123,601,000 after purchasing an additional 652,515 shares during the period. TD Asset Management Inc grew its holdings in shares of EPAM Systems by 80.0% in the second quarter. TD Asset Management Inc now owns 595,486 shares of the information technology services provider’s stock worth $112,017,000 after purchasing an additional 264,570 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of EPAM Systems by 45.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 515,351 shares of the information technology services provider’s stock worth $102,570,000 after buying an additional 160,989 shares during the period. Massachusetts Financial Services Co. MA boosted its position in EPAM Systems by 643.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 417,526 shares of the information technology services provider’s stock valued at $83,100,000 after buying an additional 361,363 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in EPAM Systems by 4.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 379,834 shares of the information technology services provider’s stock worth $71,451,000 after acquiring an additional 15,116 shares during the last quarter. Institutional investors own 91.58% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. StockNews.com upgraded shares of EPAM Systems from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Citigroup increased their price objective on EPAM Systems from $207.00 to $210.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. JPMorgan Chase & Co. boosted 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. Deutsche Bank Aktiengesellschaft started coverage on EPAM Systems in a report on Thursday, August 22nd. They set a “hold” rating and a $204.00 target price for the company. Finally, The Goldman Sachs Group upgraded shares of EPAM Systems from a “neutral” rating to a “buy” rating and lifted their price target for the company from $235.00 to $295.00 in a report on Friday. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, EPAM Systems presently has an average rating of “Moderate Buy” and an average price target of $268.95.

Insider Activity

In other 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 transaction of $237,000.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 4.30% of the company’s stock.

EPAM Systems Stock Up 2.1 %

Shares of NYSE:EPAM opened at $245.45 on Friday. 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 fifty day simple moving average of $215.53 and a two-hundred day simple moving average of $201.44. EPAM Systems, Inc. has a 12-month low of $169.43 and a 12-month high of $317.50. The stock has a market capitalization of $13.92 billion, a price-to-earnings ratio of 31.88, a PEG ratio of 3.70 and a beta of 1.49.

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.