Citigroup Inc. Boosts Stake in EPAM Systems, Inc. (NYSE:EPAM)

Citigroup Inc. raised its position in EPAM Systems, Inc. (NYSE:EPAM) by 199.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 173,721 shares of the information technology services provider’s stock after purchasing an additional 115,720 shares during the quarter. Citigroup Inc. owned 0.31% of EPAM Systems worth $34,576,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. ORG Partners LLC grew its holdings in shares of EPAM Systems by 5,000.0% in the second quarter. ORG Partners LLC now owns 153 shares of the information technology services provider’s stock valued at $28,000 after purchasing an additional 150 shares in the last quarter. Opal Wealth Advisors LLC purchased a new position in EPAM Systems in the 2nd quarter valued at approximately $29,000. Livforsakringsbolaget Skandia Omsesidigt boosted 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 valued at $31,000 after buying an additional 100 shares during the period. Farther Finance Advisors LLC increased its position in shares of 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 worth $42,000 after acquiring an additional 106 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in shares of EPAM Systems in the third quarter valued at $44,000. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at EPAM Systems

In other EPAM Systems news, CFO Jason D. Peterson sold 1,000 shares of the company’s stock in a transaction that occurred 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 directly owns 24,836 shares of the company’s stock, valued at $5,886,132. This represents a 3.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.30% of the company’s stock.

EPAM Systems Stock Up 1.6 %

Shares of NYSE:EPAM opened at $249.10 on Tuesday. EPAM Systems, Inc. has a 1-year low of $169.43 and a 1-year high of $317.50. 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 stock has a market cap of $14.13 billion, a P/E ratio of 32.35, a P/E/G ratio of 3.75 and a beta of 1.46. The firm has a fifty day moving average price of $207.37 and a 200 day moving average price of $198.03.

EPAM Systems declared that its board has authorized a share repurchase 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 stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on EPAM shares. Citigroup boosted their target price on EPAM Systems from $207.00 to $210.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. upped their target price on shares of EPAM Systems from $222.00 to $262.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Susquehanna raised their target price on shares of EPAM Systems from $240.00 to $270.00 and gave the company a “positive” rating in a report on Friday, November 8th. Jefferies Financial Group boosted their price target on shares of EPAM Systems from $237.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Finally, Piper Sandler raised their price objective on shares of EPAM Systems from $225.00 to $258.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, EPAM Systems currently has an average rating of “Moderate Buy” and a consensus price target of $264.20.

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.