Fmr LLC Sells 71,192 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Fmr LLC lessened its holdings in EPAM Systems, Inc. (NYSE:EPAM) by 3.7% during the 3rd quarter, Holdings Channel reports. The firm owned 1,838,286 shares of the information technology services provider’s stock after selling 71,192 shares during the period. Fmr LLC’s holdings in EPAM Systems were worth $365,874,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. ORG Partners LLC boosted its holdings in EPAM Systems by 5,000.0% during the second quarter. ORG Partners LLC now owns 153 shares of the information technology services provider’s stock worth $28,000 after buying an additional 150 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in EPAM Systems during the 2nd quarter worth approximately $29,000. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in EPAM Systems by 181.8% during 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 during the period. Farther Finance Advisors LLC grew its holdings in EPAM Systems by 101.0% during the third quarter. Farther Finance Advisors LLC now owns 211 shares of the information technology services provider’s stock valued at $42,000 after purchasing an additional 106 shares during the period. Finally, Capital Performance Advisors LLP bought a new stake in EPAM Systems in the third quarter valued at approximately $44,000. Institutional investors and hedge funds own 91.58% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on EPAM shares. Itau BBA Securities raised shares of EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 price target for the company in a report on Friday, November 8th. Piper Sandler boosted their target price on EPAM Systems from $225.00 to $258.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Mizuho raised their price target on EPAM Systems from $245.00 to $282.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Citigroup boosted their price objective on EPAM Systems from $207.00 to $210.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. raised their target price 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. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $264.20.

EPAM Systems Stock Down 0.8 %

EPAM Systems stock opened at $243.92 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.56 and a quick ratio of 4.56. The company’s 50-day moving average is $211.19 and its 200-day moving average is $199.52. The firm has a market capitalization of $13.84 billion, a PE ratio of 31.68, a P/E/G ratio of 3.76 and a beta of 1.46. EPAM Systems, Inc. has a fifty-two week low of $169.43 and a fifty-two week high of $317.50.

EPAM Systems announced that its board has initiated a share repurchase program on Thursday, August 8th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the information technology services provider to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other EPAM Systems news, CFO Jason D. Peterson sold 1,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $237.00, for a total transaction of $237,000.00. Following the completion of the sale, the chief financial officer now owns 24,836 shares of the company’s stock, valued at $5,886,132. This trade represents a 3.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.30% of the stock is currently owned by corporate insiders.

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.