Atom Investors LP Invests $947,000 in EPAM Systems, Inc. (NYSE:EPAM)

Atom Investors LP purchased a new stake in EPAM Systems, Inc. (NYSE:EPAM) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,759 shares of the information technology services provider’s stock, valued at approximately $947,000.

Other large investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its holdings in EPAM Systems by 14,325.2% in the second quarter. Pacer Advisors Inc. now owns 657,070 shares of the information technology services provider’s stock worth $123,601,000 after acquiring an additional 652,515 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of EPAM Systems during the second quarter valued at approximately $84,850,000. Massachusetts Financial Services Co. MA boosted its position in shares of EPAM Systems by 643.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 417,526 shares of the information technology services provider’s stock worth $83,100,000 after buying an additional 361,363 shares during the period. TD Asset Management Inc grew its holdings in EPAM Systems by 80.0% in the 2nd quarter. TD Asset Management Inc now owns 595,486 shares of the information technology services provider’s stock worth $112,017,000 after buying an additional 264,570 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake in EPAM Systems by 47,294.2% during the 2nd quarter. Acadian Asset Management LLC now owns 189,103 shares of the information technology services provider’s stock valued at $35,560,000 after acquiring an additional 188,704 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on EPAM. Susquehanna increased their target price 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. Needham & Company LLC increased their price objective on shares of EPAM Systems from $215.00 to $265.00 and gave the company a “buy” rating in a report on Friday, November 8th. Jefferies Financial Group increased their price target on EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 9th. Citigroup lifted their price objective on shares of EPAM Systems from $207.00 to $210.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Finally, Deutsche Bank Aktiengesellschaft began coverage on EPAM Systems in a report on Thursday, August 22nd. They issued a “hold” rating and a $204.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, EPAM Systems has an average rating of “Moderate Buy” and an average price target of $264.20.

EPAM Systems Stock Performance

Shares of NYSE:EPAM opened at $240.47 on Wednesday. EPAM Systems, Inc. has a 1 year low of $169.43 and a 1 year high of $317.50. The stock has a market capitalization of $13.64 billion, a price-to-earnings ratio of 31.23, a price-to-earnings-growth ratio of 3.73 and a beta of 1.49. 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 company’s 50 day simple moving average is $212.10 and its 200 day simple moving average is $200.05.

EPAM Systems announced that its board has approved a share repurchase program on Thursday, August 8th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the information technology services provider to purchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Insider Activity at EPAM Systems

In other EPAM Systems news, CFO Jason D. Peterson sold 1,000 shares of the company’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 sale, the chief financial officer now owns 24,836 shares in the company, valued at approximately $5,886,132. The trade was a 3.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 4.30% of the stock is owned by insiders.

About EPAM Systems

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.