BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $36.55 Million Position in EPAM Systems, Inc. (NYSE:EPAM)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its stake in shares of EPAM Systems, Inc. (NYSE:EPAM) by 13.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 183,629 shares of the information technology services provider’s stock after selling 28,062 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in EPAM Systems were worth $36,548,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Tidal Investments LLC grew its holdings in shares of EPAM Systems by 17.2% in the 1st quarter. Tidal Investments LLC now owns 3,167 shares of the information technology services provider’s stock worth $875,000 after purchasing an additional 464 shares during the last quarter. Comerica Bank grew its holdings in shares of EPAM Systems by 3.1% in the 1st quarter. Comerica Bank now owns 9,593 shares of the information technology services provider’s stock worth $2,649,000 after purchasing an additional 286 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of EPAM Systems by 1.9% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 10,473 shares of the information technology services provider’s stock worth $2,859,000 after purchasing an additional 195 shares during the last quarter. Polianta Ltd bought a new stake in shares of EPAM Systems in the 2nd quarter worth about $1,185,000. Finally, CWM LLC grew its holdings in shares of EPAM Systems by 28.6% in the 2nd quarter. CWM LLC now owns 1,857 shares of the information technology services provider’s stock worth $349,000 after purchasing an additional 413 shares during the last quarter. 91.58% of the stock is currently owned by institutional investors and hedge funds.

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 on 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 owns 24,836 shares in the company, valued at $5,886,132. This represents a 3.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.30% of the stock is currently owned by insiders.

EPAM Systems Price Performance

Shares of NYSE:EPAM opened at $243.92 on Friday. The firm has a market capitalization of $13.84 billion, a price-to-earnings ratio of 31.68, a PEG ratio of 3.76 and a beta of 1.46. The stock’s 50 day moving average is $211.19 and its 200-day moving average is $199.52. EPAM Systems, Inc. has a twelve month low of $169.43 and a twelve month 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.

EPAM Systems declared that its board has authorized a stock repurchase program on Thursday, August 8th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the information technology services provider to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on EPAM. Deutsche Bank Aktiengesellschaft assumed coverage on shares of EPAM Systems in a report on Thursday, August 22nd. They issued a “hold” rating and a $204.00 target price on the stock. JPMorgan Chase & Co. increased their price target on shares of EPAM Systems from $222.00 to $262.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Piper Sandler raised their target price on shares of EPAM Systems from $225.00 to $258.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Susquehanna lifted their price objective on shares of EPAM Systems from $240.00 to $270.00 and gave the stock a “positive” rating in a research report on Friday, November 8th. Finally, Needham & Company LLC lifted their target price on EPAM Systems from $215.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Eight 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $264.20.

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.