Bank of Nova Scotia Buys 19,923 Shares of EPAM Systems, Inc. $EPAM

Bank of Nova Scotia grew its stake in shares of EPAM Systems, Inc. (NYSE:EPAM) by 234.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,425 shares of the information technology services provider’s stock after purchasing an additional 19,923 shares during the quarter. Bank of Nova Scotia owned about 0.05% of EPAM Systems worth $5,026,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Sound Income Strategies LLC bought a new position in shares of EPAM Systems in the second quarter valued at $29,000. Elevation Point Wealth Partners LLC acquired a new stake in EPAM Systems in the second quarter valued at $49,000. Blue Trust Inc. grew its position in shares of EPAM Systems by 40.5% in the 2nd quarter. Blue Trust Inc. now owns 333 shares of the information technology services provider’s stock valued at $59,000 after acquiring an additional 96 shares during the period. Parallel Advisors LLC increased its stake in shares of EPAM Systems by 215.5% during the 2nd quarter. Parallel Advisors LLC now owns 366 shares of the information technology services provider’s stock worth $65,000 after purchasing an additional 250 shares during the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of EPAM Systems by 275.0% in the 2nd quarter. UMB Bank n.a. now owns 390 shares of the information technology services provider’s stock valued at $69,000 after purchasing an additional 286 shares during the period. Institutional investors own 91.58% of the company’s stock.

Analyst Ratings Changes

EPAM has been the subject of a number of research analyst reports. Weiss Ratings upgraded EPAM Systems from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday. TD Cowen raised EPAM Systems from a “hold” rating to a “buy” rating and set a $205.00 price objective for the company in a research report on Monday, August 18th. JPMorgan Chase & Co. boosted their target price on EPAM Systems from $201.00 to $215.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Mizuho raised their price target on EPAM Systems from $225.00 to $228.00 and gave the company an “outperform” rating in a report on Tuesday, November 11th. Finally, Wall Street Zen cut shares of EPAM Systems from a “buy” rating to a “hold” rating in a research report on Saturday, September 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.40.

Insider Buying and Selling at EPAM Systems

In related news, SVP Sergey Yezhkov sold 1,511 shares of the stock in a transaction that occurred on Tuesday, October 21st. The stock was sold at an average price of $150.27, for a total transaction of $227,057.97. Following the sale, the senior vice president owned 146 shares of the company’s stock, valued at $21,939.42. This represents a 91.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Boris Shnayder sold 5,000 shares of the firm’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $207.00, for a total value of $1,035,000.00. Following the transaction, the senior vice president owned 15,645 shares in the company, valued at approximately $3,238,515. This trade represents a 24.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 9,611 shares of company stock valued at $1,824,132 over the last ninety days. Company insiders own 4.30% of the company’s stock.

EPAM Systems Trading Down 0.4%

Shares of EPAM Systems stock opened at $210.87 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.02 and a current ratio of 3.02. The firm has a 50-day moving average of $171.54 and a 200-day moving average of $168.41. EPAM Systems, Inc. has a 52-week low of $138.15 and a 52-week high of $269.00. The stock has a market cap of $11.65 billion, a PE ratio of 32.19, a PEG ratio of 2.87 and a beta of 1.75.

EPAM Systems (NYSE:EPAM) last released its quarterly earnings results on Thursday, November 6th. The information technology services provider reported $3.08 EPS for the quarter, topping analysts’ consensus estimates of $3.02 by $0.06. EPAM Systems had a net margin of 7.01% and a return on equity of 13.16%. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period last year, the firm earned $3.12 earnings per share. EPAM Systems’s revenue for the quarter was up 19.4% compared to the same quarter last year. EPAM Systems has set its FY 2025 guidance at 11.360-11.440 EPS and its Q4 2025 guidance at 3.100-3.18 EPS. As a group, sell-side analysts forecast that EPAM Systems, Inc. will post 8.9 EPS for the current year.

EPAM Systems announced that its board has initiated a stock repurchase program on Tuesday, October 21st that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the information technology services provider to repurchase up to 12.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

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.