Tybourne Capital Management HK Ltd. Sells 27,600 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Tybourne Capital Management HK Ltd. trimmed its holdings in EPAM Systems, Inc. (NYSE:EPAM) by 13.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 185,012 shares of the information technology services provider’s stock after selling 27,600 shares during the period. EPAM Systems accounts for about 10.3% of Tybourne Capital Management HK Ltd.’s holdings, making the stock its 4th biggest holding. Tybourne Capital Management HK Ltd. owned 0.33% of EPAM Systems worth $36,823,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. ORG Partners LLC boosted its stake in EPAM Systems by 5,000.0% during the second quarter. ORG Partners LLC now owns 153 shares of the information technology services provider’s stock worth $28,000 after buying an additional 150 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of EPAM Systems during the 2nd quarter valued at about $29,000. Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of EPAM Systems by 181.8% during 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 last quarter. Farther Finance Advisors LLC grew its holdings in shares of EPAM Systems by 101.0% in the third quarter. Farther Finance Advisors LLC now owns 211 shares of the information technology services provider’s stock valued at $42,000 after purchasing an additional 106 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in EPAM Systems during the third quarter worth about $44,000. 91.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on EPAM. Piper Sandler increased their price target 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 raised their target price on EPAM Systems from $240.00 to $270.00 and gave the stock a “positive” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. lifted their target price on EPAM Systems from $222.00 to $262.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Jefferies Financial Group increased their price target on EPAM Systems from $237.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Finally, Mizuho boosted their price objective on shares of EPAM Systems from $245.00 to $282.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $264.20.

Insider Buying and Selling

In related news, CFO Jason D. Peterson sold 1,000 shares of EPAM Systems stock in a transaction that occurred on Thursday, November 7th. The shares were 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. The trade was a 3.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.30% of the stock is currently owned by insiders.

EPAM Systems Stock Performance

Shares of EPAM stock opened at $245.84 on Thursday. The stock has a market capitalization of $13.94 billion, a PE ratio of 31.93, a P/E/G ratio of 3.81 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. The firm has a 50 day moving average of $208.34 and a two-hundred day moving average of $198.49.

EPAM Systems announced that its Board of Directors has authorized a stock repurchase 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 reacquire up to 4.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board 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.