Insider Selling: EPAM Systems, Inc. (NYSE:EPAM) CFO Sells 1,000 Shares of Stock

EPAM Systems, Inc. (NYSE:EPAM) CFO Jason D. Peterson sold 1,000 shares of EPAM Systems 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 completion of the sale, the chief financial officer now directly owns 24,836 shares of the company’s stock, valued at $5,886,132. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

EPAM Systems Stock Up 1.0 %

Shares of EPAM stock traded up $2.50 during mid-day trading on Tuesday, reaching $245.75. 659,952 shares of the company were exchanged, compared to its average volume of 622,270. The company has a market capitalization of $13.94 billion, a P/E ratio of 31.83, a P/E/G ratio of 5.12 and a beta of 1.46. The business’s 50 day simple moving average is $199.79 and its 200 day simple moving average is $197.65. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.84 and a current ratio of 4.56. EPAM Systems, Inc. has a fifty-two week low of $169.43 and a fifty-two week high of $317.50.

EPAM Systems declared that its Board of Directors has initiated a share repurchase program on Thursday, August 8th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the information technology services provider to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

EPAM has been the topic of a number of research analyst reports. Piper Sandler upped their target price on shares of EPAM Systems from $225.00 to $258.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft assumed coverage on EPAM Systems in a research note on Thursday, August 22nd. They set a “hold” rating and a $204.00 price objective for the company. Needham & Company LLC lifted their target price on EPAM Systems from $215.00 to $265.00 and gave the company a “buy” rating in a research report on Friday. JPMorgan Chase & Co. boosted their price target on shares of EPAM Systems from $222.00 to $262.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Finally, Jefferies Financial Group upped their target price on shares of EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 9th. Nine analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $263.00.

Institutional Trading of EPAM Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. ORG Partners LLC increased its position in shares of EPAM Systems by 5,000.0% in the second quarter. ORG Partners LLC now owns 153 shares of the information technology services provider’s stock worth $28,000 after acquiring an additional 150 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of EPAM Systems in the second quarter valued at $29,000. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of EPAM Systems by 181.8% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 155 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 100 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of EPAM Systems by 101.0% in the third 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 purchased a new position in shares of EPAM Systems during the third quarter valued at $44,000. 91.58% of the stock is currently owned by institutional investors.

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.