EPAM Systems, Inc. (NYSE:EPAM) Shares Sold by Aigen Investment Management LP

Aigen Investment Management LP trimmed its position in EPAM Systems, Inc. (NYSE:EPAM) by 2.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,330 shares of the information technology services provider’s stock after selling 65 shares during the period. Aigen Investment Management LP’s holdings in EPAM Systems were worth $464,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of EPAM Systems by 0.6% during the first quarter. Vanguard Group Inc. now owns 6,865,123 shares of the information technology services provider’s stock worth $1,895,872,000 after purchasing an additional 39,531 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of 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 valued at $123,601,000 after buying an additional 652,515 shares during the last quarter. TD Asset Management Inc lifted its stake in shares of EPAM Systems by 80.0% in the second 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. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of EPAM Systems by 22.6% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 512,353 shares of the information technology services provider’s stock worth $139,516,000 after buying an additional 94,544 shares in the last quarter. Finally, Manning & Napier Advisors LLC purchased a new stake in EPAM Systems during the 2nd quarter valued at about $84,850,000. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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 transaction of $237,000.00. Following the sale, 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 this link. Insiders own 4.30% of the company’s stock.

EPAM Systems Price Performance

EPAM Systems stock opened at $244.86 on Friday. The company’s 50 day moving average is $202.58 and its two-hundred day moving average is $198.38. The firm has a market cap of $13.89 billion, a PE ratio of 31.80, a price-to-earnings-growth ratio of 3.75 and a beta of 1.46. 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, Inc. has a 52-week low of $169.43 and a 52-week high of $317.50.

EPAM Systems announced that its Board of Directors has authorized a stock buyback 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 reacquire up to 4.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on EPAM Systems from $222.00 to $262.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Citigroup lifted their price target on EPAM Systems from $207.00 to $210.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Piper Sandler upped their price objective on shares of EPAM Systems from $225.00 to $258.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Itau BBA Securities raised shares of EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 target price on the stock in a research note on Friday, November 8th. Finally, Barclays increased their price target on shares of EPAM Systems from $200.00 to $225.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $264.20.

EPAM Systems Company 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.