Sompo Asset Management Co. Ltd. Has $794,000 Stake in EPAM Systems, Inc. (NYSE:EPAM)

Sompo Asset Management Co. Ltd. lowered its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM) by 9.7% during the third quarter, HoldingsChannel reports. The firm owned 3,990 shares of the information technology services provider’s stock after selling 430 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in EPAM Systems were worth $794,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Metis Global Partners LLC raised its holdings in EPAM Systems by 2.5% during the 3rd quarter. Metis Global Partners LLC now owns 2,029 shares of the information technology services provider’s stock worth $404,000 after buying an additional 50 shares during the period. Retirement Systems of Alabama raised its holdings in shares of EPAM Systems by 0.4% during the second 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 period. Motley Fool Asset Management LLC lifted its position in EPAM Systems by 5.2% in the 1st quarter. Motley Fool Asset Management LLC now owns 1,124 shares of the information technology services provider’s stock valued at $310,000 after acquiring an additional 56 shares in the last quarter. Taylor Frigon Capital Management LLC boosted its stake in EPAM Systems by 0.5% in the 2nd 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. Finally, First Horizon Advisors Inc. boosted its stake in EPAM Systems by 21.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 325 shares of the information technology services provider’s stock worth $65,000 after purchasing an additional 57 shares during the period. Institutional investors own 91.58% of the company’s stock.

EPAM Systems Price Performance

Shares of EPAM opened at $245.27 on Friday. The company’s 50-day moving average is $206.50 and its 200-day moving average is $197.92. 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 firm has a market capitalization of $13.91 billion, a PE ratio of 31.85, a PEG ratio of 3.75 and a beta of 1.46. EPAM Systems, Inc. has a fifty-two week low of $169.43 and a fifty-two week high of $317.50.

EPAM Systems declared that its Board of Directors has approved 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 purchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on EPAM. Needham & Company LLC boosted their price target on EPAM Systems from $215.00 to $265.00 and gave the company a “buy” rating in a report on Friday, November 8th. Citigroup boosted 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. Scotiabank raised shares of EPAM Systems from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $245.00 to $275.00 in a research note on Monday, November 11th. Susquehanna lifted their price objective 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. Finally, Jefferies Financial Group increased their target price 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. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $264.20.

Insider Buying and Selling at EPAM Systems

In other news, CFO Jason D. Peterson sold 1,000 shares of the business’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 owns 24,836 shares in the company, valued at $5,886,132. The trade was a 3.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 4.30% of the company’s stock.

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.