Aureus Asset Management LLC Grows Position in EPAM Systems, Inc. (NYSE:EPAM)

Aureus Asset Management LLC increased its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 7.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 73,429 shares of the information technology services provider’s stock after buying an additional 5,276 shares during the period. Aureus Asset Management LLC owned about 0.13% of EPAM Systems worth $14,615,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in EPAM. Geneva Capital Management LLC increased its stake in EPAM Systems by 6.0% in the third quarter. Geneva Capital Management LLC now owns 71,281 shares of the information technology services provider’s stock valued at $14,187,000 after purchasing an additional 4,027 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in EPAM Systems in the third quarter valued at approximately $8,195,000. Victory Capital Management Inc. increased its stake in EPAM Systems by 247.6% in the third quarter. Victory Capital Management Inc. now owns 72,447 shares of the information technology services provider’s stock valued at $14,419,000 after purchasing an additional 51,603 shares during the last quarter. Raymond James & Associates increased its stake in EPAM Systems by 1,741.1% in the third quarter. Raymond James & Associates now owns 36,694 shares of the information technology services provider’s stock valued at $7,303,000 after purchasing an additional 34,701 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in EPAM Systems by 251.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 19,128 shares of the information technology services provider’s stock valued at $3,807,000 after purchasing an additional 13,690 shares during the last quarter. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Jason D. Peterson sold 1,000 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now owns 24,836 shares of the company’s stock, valued at $5,886,132. This represents 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 link. 4.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Susquehanna increased their price target on shares of EPAM Systems from $240.00 to $270.00 and gave the company a “positive” rating in a research note on Friday, November 8th. Citigroup increased their price target on shares of EPAM Systems from $207.00 to $210.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Deutsche Bank Aktiengesellschaft began coverage on shares of EPAM Systems in a research note on Thursday, August 22nd. They issued a “hold” rating and a $204.00 price target on the stock. JPMorgan Chase & Co. increased their price objective on EPAM Systems from $222.00 to $262.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Finally, StockNews.com raised shares of EPAM Systems from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $264.20.

EPAM Systems Price Performance

EPAM Systems stock opened at $243.92 on Monday. EPAM Systems, Inc. has a 12 month low of $169.43 and a 12 month 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 business has a 50 day simple moving average of $211.19 and a 200-day simple moving average of $199.60. The stock has a market capitalization of $13.84 billion, a PE ratio of 31.68, a price-to-earnings-growth ratio of 3.73 and a beta of 1.46.

EPAM Systems declared that its Board of Directors has authorized a share buyback program on Thursday, August 8th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the information technology services provider to buy up to 4.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

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.