Townsquare Capital LLC Purchases Shares of 32,333 EPAM Systems, Inc. (NYSE:EPAM)

Townsquare Capital LLC acquired a new stake in shares of EPAM Systems, Inc. (NYSE:EPAM) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 32,333 shares of the information technology services provider’s stock, valued at approximately $6,435,000. Townsquare Capital LLC owned approximately 0.06% of EPAM Systems as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. ORG Partners LLC raised its stake in shares of 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 acquiring an additional 150 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in shares of EPAM Systems during the 2nd quarter valued at $29,000. Livforsakringsbolaget Skandia Omsesidigt raised its position in EPAM Systems by 181.8% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 155 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 100 shares during the period. Farther Finance Advisors LLC lifted its stake in EPAM Systems by 101.0% in the third quarter. Farther Finance Advisors LLC now owns 211 shares of the information technology services provider’s stock worth $42,000 after purchasing an additional 106 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in EPAM Systems during the third quarter valued at about $44,000. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

EPAM Systems Trading Down 1.2 %

NYSE EPAM opened at $245.79 on Friday. The firm has a market capitalization of $13.94 billion, a PE ratio of 31.92, a P/E/G ratio of 3.81 and a beta of 1.46. The stock’s 50 day moving average is $209.30 and its 200 day moving average is $198.82. EPAM Systems, Inc. has a twelve month low of $169.43 and a twelve month high of $317.50. The company has a quick ratio of 4.56, a current ratio of 4.56 and a debt-to-equity ratio of 0.01.

EPAM Systems declared that its board has initiated a stock repurchase plan on Thursday, August 8th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at EPAM Systems

In other news, CFO Jason D. Peterson sold 1,000 shares of EPAM Systems stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $237.00, for a total value of $237,000.00. Following the completion of the transaction, the chief financial officer now owns 24,836 shares of the company’s stock, valued at $5,886,132. The trade was a 3.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.30% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Mizuho lifted their price objective on EPAM Systems from $245.00 to $282.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. StockNews.com upgraded EPAM Systems from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Itau BBA Securities upgraded shares of EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 target price on the stock in a report on Friday, November 8th. Piper Sandler lifted their target price on shares of EPAM Systems from $225.00 to $258.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Finally, Jefferies Financial Group increased their price target on shares of EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $264.20.

About EPAM Systems

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.