Michelson Medical Research Foundation Inc. Makes New Investment in EPAM Systems, Inc. (NYSE:EPAM)

Michelson Medical Research Foundation Inc. bought a new position in shares of EPAM Systems, Inc. (NYSE:EPAM) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,000 shares of the information technology services provider’s stock, valued at approximately $1,990,000. EPAM Systems makes up about 1.4% of Michelson Medical Research Foundation Inc.’s investment portfolio, making the stock its 21st largest holding.

Other institutional investors and hedge funds have also made changes to their positions in the company. ORG Partners LLC lifted its holdings 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 purchasing an additional 150 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of EPAM Systems during the second quarter worth about $29,000. Livforsakringsbolaget Skandia Omsesidigt increased 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 acquiring an additional 100 shares during the period. Farther Finance Advisors LLC raised its stake 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 valued at $42,000 after acquiring an additional 106 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in EPAM Systems during the 3rd quarter worth approximately $44,000. 91.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Citigroup lifted their price objective on shares of EPAM Systems from $207.00 to $210.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Deutsche Bank Aktiengesellschaft initiated coverage on EPAM Systems in a report on Thursday, August 22nd. They issued a “hold” rating and a $204.00 price target for the company. Needham & Company LLC upped their price target on shares of EPAM Systems from $215.00 to $265.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Susquehanna lifted their price target on shares of EPAM Systems from $240.00 to $270.00 and gave the company a “positive” rating in a research report on Friday, November 8th. Finally, StockNews.com upgraded shares of EPAM Systems from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, EPAM Systems presently has a consensus rating of “Moderate Buy” and an average price target of $264.20.

Insider Activity

In other EPAM Systems news, CFO Jason D. Peterson sold 1,000 shares of the business’s stock in a transaction dated 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 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 document filed with the SEC, which is available through this hyperlink. Corporate insiders own 4.30% of the company’s stock.

EPAM Systems Price Performance

Shares of EPAM Systems stock opened at $240.47 on Wednesday. The stock has a market capitalization of $13.64 billion, a P/E ratio of 31.23, a PEG ratio of 3.73 and a beta of 1.49. The company has a current ratio of 4.56, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01. The business’s fifty day moving average price is $212.90 and its 200 day moving average price is $200.42. EPAM Systems, Inc. has a twelve month low of $169.43 and a twelve month high of $317.50.

EPAM Systems declared that its Board of Directors has authorized a stock repurchase plan on Thursday, August 8th that permits the company to repurchase $500.00 million in 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 typically a sign that the company’s management believes its shares are 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.