ING Groep NV Has $1.52 Million Position in EPAM Systems, Inc. (NYSE:EPAM)

ING Groep NV cut its holdings in EPAM Systems, Inc. (NYSE:EPAM) by 2.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 7,615 shares of the information technology services provider’s stock after selling 186 shares during the quarter. ING Groep NV’s holdings in EPAM Systems were worth $1,516,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of EPAM. Pacer Advisors Inc. lifted its stake in EPAM Systems by 14,325.2% in the second quarter. Pacer Advisors Inc. now owns 657,070 shares of the information technology services provider’s stock valued at $123,601,000 after buying an additional 652,515 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of EPAM Systems during the second quarter worth $84,850,000. TD Asset Management Inc lifted its position in EPAM Systems by 80.0% in the 2nd quarter. TD Asset Management Inc now owns 595,486 shares of the information technology services provider’s stock valued at $112,017,000 after acquiring an additional 264,570 shares in the last quarter. Acadian Asset Management LLC boosted its stake in EPAM Systems by 47,294.2% in the 2nd quarter. Acadian Asset Management LLC now owns 189,103 shares of the information technology services provider’s stock worth $35,560,000 after purchasing an additional 188,704 shares during the period. Finally, Epoch Investment Partners Inc. increased its holdings in EPAM Systems by 97.7% during the 2nd quarter. Epoch Investment Partners Inc. now owns 338,667 shares of the information technology services provider’s stock worth $63,707,000 after purchasing an additional 167,343 shares in the last quarter. 91.58% of the stock is owned by institutional investors.

Insider Transactions at EPAM Systems

In other news, CFO Jason D. Peterson sold 1,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 24,836 shares of the company’s stock, valued at approximately $5,886,132. This represents a 3.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.30% of the stock is currently owned by corporate insiders.

EPAM Systems Trading Down 3.9 %

Shares of EPAM Systems stock opened at $235.29 on Monday. EPAM Systems, Inc. has a 1 year low of $169.43 and a 1 year high of $317.50. The company has a market capitalization of $13.35 billion, a price-to-earnings ratio of 30.56, a P/E/G ratio of 3.60 and a beta of 1.46. The business has a fifty day simple moving average of $203.19 and a two-hundred day simple moving average of $197.84. 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 announced that its board has authorized a share buyback program on Thursday, August 8th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the information technology services provider to reacquire up to 4.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have recently weighed in on EPAM shares. Jefferies Financial Group upped their price objective on EPAM Systems from $237.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Citigroup upped their price target on EPAM Systems from $207.00 to $210.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Piper Sandler lifted their price objective on shares of EPAM Systems from $225.00 to $258.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Itau BBA Securities upgraded shares of 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. Finally, Barclays lifted their price target on shares of EPAM Systems from $200.00 to $225.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company 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.