Empirical Finance LLC Buys 67 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Empirical Finance LLC increased its stake in shares of EPAM Systems, Inc. (NYSE:EPAM) by 5.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,362 shares of the information technology services provider’s stock after acquiring an additional 67 shares during the quarter. Empirical Finance LLC’s holdings in EPAM Systems were worth $271,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. ORG Partners LLC increased its stake in shares of EPAM Systems by 5,000.0% in the 2nd quarter. ORG Partners LLC now owns 153 shares of the information technology services provider’s stock valued at $28,000 after buying an additional 150 shares during the period. Opal Wealth Advisors LLC bought a new position in EPAM Systems in the second quarter valued at about $29,000. Livforsakringsbolaget Skandia Omsesidigt increased its position in EPAM Systems by 181.8% in the third 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 raised its holdings in EPAM Systems by 101.0% during the 3rd 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 acquired a new position in EPAM Systems during the 3rd quarter valued at about $44,000. Institutional investors and hedge funds own 91.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Scotiabank upgraded shares of EPAM Systems from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock from $245.00 to $275.00 in a research report on Monday, November 11th. Itau BBA Securities raised shares of EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 target price for the company in a report on Friday, November 8th. StockNews.com raised EPAM Systems from a “hold” rating to a “buy” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft assumed coverage on EPAM Systems in a research note on Thursday, August 22nd. They set a “hold” rating and a $204.00 price objective for the company. Finally, Citigroup increased their target price on EPAM Systems from $207.00 to $210.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $264.20.

Insider Transactions at EPAM Systems

In other news, CFO Jason D. Peterson sold 1,000 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer now owns 24,836 shares of the company’s stock, valued at approximately $5,886,132. This represents a 3.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 4.30% of the company’s stock.

EPAM Systems Stock Down 3.9 %

NYSE:EPAM opened at $235.29 on Monday. The stock has a 50-day simple moving average of $203.19 and a 200 day simple moving average of $197.84. EPAM Systems, Inc. has a 52-week low of $169.43 and a 52-week high of $317.50. The company has a market cap of $13.35 billion, a PE ratio of 30.56, a PEG ratio of 3.60 and a beta of 1.46. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 4.56.

EPAM Systems announced that its board has initiated a stock buyback program on Thursday, August 8th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the information technology services provider to repurchase up to 4.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management 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.