Cerity Partners LLC Boosts Stake in EPAM Systems, Inc. (NYSE:EPAM)

Cerity Partners LLC raised its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM) by 27.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,574 shares of the information technology services provider’s stock after buying an additional 9,932 shares during the period. Cerity Partners LLC’s holdings in EPAM Systems were worth $9,071,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of EPAM. ORG Partners LLC grew its position in 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 acquiring an additional 150 shares during the last quarter. Opal Wealth Advisors LLC purchased a new position in EPAM Systems in the 2nd quarter worth about $29,000. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in EPAM Systems by 181.8% during 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 in the last quarter. Farther Finance Advisors LLC grew its stake in EPAM Systems by 101.0% in the 3rd 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 in the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of EPAM Systems during the third quarter worth approximately $44,000. Institutional investors own 91.58% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on EPAM shares. Susquehanna increased their price objective on EPAM Systems from $240.00 to $270.00 and gave the stock a “positive” rating in a research note on Friday, November 8th. Scotiabank raised EPAM Systems from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $245.00 to $275.00 in a research report on Monday, November 11th. StockNews.com upgraded EPAM Systems from a “hold” rating to a “buy” rating in a report on Friday, November 15th. JPMorgan Chase & Co. increased 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. Finally, Citigroup boosted their price target on shares of EPAM Systems from $207.00 to $210.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $264.20.

EPAM Systems Stock Performance

Shares of EPAM Systems stock opened at $248.65 on Wednesday. The firm has a market capitalization of $14.10 billion, a P/E ratio of 32.29, a PEG ratio of 3.75 and a beta of 1.46. EPAM Systems, Inc. has a 52 week low of $169.43 and a 52 week 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. The company has a 50 day moving average price of $207.37 and a 200 day moving average price of $198.03.

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

Insider Transactions at EPAM Systems

In other news, CFO Jason D. Peterson sold 1,000 shares of the firm’s 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 directly owns 24,836 shares in the company, valued at $5,886,132. This trade represents a 3.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 4.30% of the company’s stock.

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.