EPAM Systems, Inc. (NYSE:EPAM) Shares Acquired by Meridian Management Co.

Meridian Management Co. lifted its stake in EPAM Systems, Inc. (NYSE:EPAM) by 1.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 22,231 shares of the information technology services provider’s stock after purchasing an additional 351 shares during the period. EPAM Systems makes up about 1.1% of Meridian Management Co.’s investment portfolio, making the stock its 25th biggest position. Meridian Management Co.’s holdings in EPAM Systems were worth $4,425,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Retirement Systems of Alabama increased its stake in shares of EPAM Systems by 0.4% in the 2nd quarter. Retirement Systems of Alabama now owns 12,788 shares of the information technology services provider’s stock worth $2,406,000 after acquiring an additional 52 shares during the last quarter. Motley Fool Asset Management LLC increased its position in EPAM Systems by 5.2% during the first quarter. Motley Fool Asset Management LLC now owns 1,124 shares of the information technology services provider’s stock worth $310,000 after purchasing an additional 56 shares during the last quarter. Taylor Frigon Capital Management LLC raised its stake in EPAM Systems by 0.5% during the second quarter. Taylor Frigon Capital Management LLC now owns 12,339 shares of the information technology services provider’s stock worth $2,321,000 after purchasing an additional 56 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in EPAM Systems by 1.1% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,788 shares of the information technology services provider’s stock valued at $1,089,000 after purchasing an additional 63 shares during the last quarter. Finally, V Square Quantitative Management LLC grew its stake in shares of EPAM Systems by 4.3% in the 3rd quarter. V Square Quantitative Management LLC now owns 1,562 shares of the information technology services provider’s stock valued at $311,000 after buying an additional 65 shares during the period. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Analyst Ratings Changes

EPAM has been the topic of several analyst reports. Needham & Company LLC lifted their price target on shares of EPAM Systems from $215.00 to $265.00 and gave the company a “buy” rating in a research report on Friday. JPMorgan Chase & Co. lifted their target price on EPAM Systems from $222.00 to $262.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Jefferies Financial Group increased their price target on EPAM Systems from $237.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Itau BBA Securities upgraded shares of EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 price objective on the stock in a report on Friday. Finally, Barclays upped their target price on shares of EPAM Systems from $200.00 to $225.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $263.00.

EPAM Systems Price Performance

Shares of NYSE EPAM opened at $243.25 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.56 and a quick ratio of 4.84. The company has a market cap of $13.85 billion, a price-to-earnings ratio of 31.59, a price-to-earnings-growth ratio of 5.12 and a beta of 1.46. The stock’s 50-day moving average is $199.79 and its two-hundred day moving average is $197.65. EPAM Systems, Inc. has a 1-year low of $169.43 and a 1-year high of $317.50.

EPAM Systems announced that its Board of Directors has approved a share buyback plan on Thursday, August 8th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

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.