Wallace Advisory Group LLC Invests $577,000 in EPAM Systems, Inc. (NYSE:EPAM)

Wallace Advisory Group LLC bought a new position in shares of EPAM Systems, Inc. (NYSE:EPAM) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,469 shares of the information technology services provider’s stock, valued at approximately $577,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EPAM. Choreo LLC acquired a new stake in EPAM Systems during the second quarter worth about $456,000. Daiwa Securities Group Inc. grew its holdings in EPAM Systems by 12.9% during the second quarter. Daiwa Securities Group Inc. now owns 6,394 shares of the information technology services provider’s stock worth $1,203,000 after acquiring an additional 731 shares during the period. American Century Companies Inc. grew its holdings in EPAM Systems by 7.6% during the second quarter. American Century Companies Inc. now owns 13,982 shares of the information technology services provider’s stock worth $2,630,000 after acquiring an additional 987 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in EPAM Systems by 6.1% during the second quarter. DekaBank Deutsche Girozentrale now owns 11,117 shares of the information technology services provider’s stock worth $1,992,000 after acquiring an additional 644 shares during the period. Finally, Federated Hermes Inc. grew its holdings in EPAM Systems by 5,226.7% during the second quarter. Federated Hermes Inc. now owns 88,476 shares of the information technology services provider’s stock worth $16,643,000 after acquiring an additional 86,815 shares during the period. 91.58% of the stock is owned by institutional investors and hedge funds.

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 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 approximately $5,886,132. This trade represents a 3.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Viktar Dvorkin sold 6,758 shares of EPAM Systems stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $256.53, for a total value of $1,733,629.74. Following the completion of the sale, the senior vice president now owns 13,000 shares in the company, valued at $3,334,890. This represents a 34.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,222 shares of company stock worth $2,089,878. 4.30% of the stock is owned by corporate insiders.

EPAM Systems Stock Performance

Shares of EPAM Systems stock opened at $225.89 on Tuesday. EPAM Systems, Inc. has a one year low of $169.43 and a one year high of $317.50. The company has a market cap of $12.81 billion, a price-to-earnings ratio of 29.34, a PEG ratio of 3.74 and a beta of 1.50. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 4.56. The business’s 50 day moving average price is $237.68 and its 200 day moving average price is $212.30.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Piper Sandler raised their target price on EPAM Systems from $225.00 to $258.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Needham & Company LLC raised their price objective on EPAM Systems from $215.00 to $265.00 and gave the company a “buy” rating in a report on Friday, November 8th. The Goldman Sachs Group raised EPAM Systems from a “neutral” rating to a “buy” rating and raised their price objective for the company from $235.00 to $295.00 in a report on Friday, December 6th. Susquehanna raised their price objective on EPAM Systems from $240.00 to $270.00 and gave the company a “positive” rating in a report on Friday, November 8th. Finally, Mizuho raised their price objective on EPAM Systems from $245.00 to $282.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $267.84.

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.