EPAM Systems, Inc. $EPAM Position Raised by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its holdings in EPAM Systems, Inc. (NYSE:EPAM) by 7.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 109,852 shares of the information technology services provider’s stock after acquiring an additional 7,565 shares during the quarter. Envestnet Asset Management Inc. owned about 0.20% of EPAM Systems worth $16,565,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of EPAM Systems during the second quarter valued at $137,671,000. Invesco Ltd. increased its stake in EPAM Systems by 14.9% in the 2nd quarter. Invesco Ltd. now owns 4,102,790 shares of the information technology services provider’s stock worth $725,455,000 after purchasing an additional 533,292 shares in the last quarter. ARGA Investment Management LP acquired a new stake in EPAM Systems during the 2nd quarter worth about $84,456,000. Van Berkom & Associates Inc. lifted its stake in EPAM Systems by 4,413.0% during the third quarter. Van Berkom & Associates Inc. now owns 369,435 shares of the information technology services provider’s stock valued at $55,707,000 after buying an additional 361,249 shares in the last quarter. Finally, Aikya Investment Management Ltd lifted its stake in EPAM Systems by 97.0% during the third quarter. Aikya Investment Management Ltd now owns 704,821 shares of the information technology services provider’s stock valued at $106,280,000 after buying an additional 347,091 shares in the last quarter. 91.58% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at EPAM Systems

In related news, SVP Boris Shnayder sold 5,000 shares of the company’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 completion of the transaction, the senior vice president directly owned 15,645 shares in the company, valued at approximately $3,238,515. This represents a 24.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on EPAM. Zacks Research cut EPAM Systems from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 28th. Weiss Ratings reissued a “hold (c-)” rating on shares of EPAM Systems in a research note on Monday, December 29th. Wells Fargo & Company lifted their target price on EPAM Systems from $185.00 to $247.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. Citigroup increased their price target on shares of EPAM Systems from $170.00 to $225.00 and gave the stock a “neutral” rating in a research report on Thursday, January 29th. Finally, Truist Financial started coverage on shares of EPAM Systems in a report on Tuesday, January 6th. They set a “hold” rating and a $220.00 price target for the company. Ten equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $214.20.

EPAM Systems Price Performance

Shares of EPAM Systems stock opened at $166.17 on Monday. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 0.01. The firm has a fifty day simple moving average of $205.67 and a 200-day simple moving average of $178.92. The stock has a market capitalization of $9.18 billion, a price-to-earnings ratio of 25.37, a PEG ratio of 1.99 and a beta of 1.72. EPAM Systems, Inc. has a 1-year low of $138.15 and a 1-year high of $269.00.

EPAM Systems declared that its board has initiated a share repurchase plan on Tuesday, October 21st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the information technology services provider to reacquire up to 12.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

EPAM Systems Profile

EPAM Systems, Inc is a global provider of digital platform engineering and software development services. The company partners with clients across industries—such as financial services, healthcare, retail, and technology—to design, develop, and maintain complex software applications and digital experiences. EPAM’s offerings include custom software development, application management, infrastructure management, quality assurance, and testing services, enabling organizations to accelerate digital transformation and enhance operational efficiency.

In addition to its core engineering capabilities, EPAM delivers a range of specialized services, including product design and consulting, data and analytics, cloud computing, DevOps, and cybersecurity.