Farther Finance Advisors LLC Has $42,000 Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Farther Finance Advisors LLC raised its stake in shares of EPAM Systems, Inc. (NYSE:EPAM) by 101.0% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 211 shares of the information technology services provider’s stock after purchasing an additional 106 shares during the period. Farther Finance Advisors LLC’s holdings in EPAM Systems were worth $42,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EPAM. ORG Partners LLC boosted its position in EPAM Systems by 5,000.0% in the second quarter. ORG Partners LLC now owns 153 shares of the information technology services provider’s stock worth $28,000 after purchasing an additional 150 shares during the last quarter. Opal Wealth Advisors LLC purchased a new stake in EPAM Systems during the second quarter worth about $29,000. Livforsakringsbolaget Skandia Omsesidigt raised its position in EPAM Systems by 181.8% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 155 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 100 shares during the period. 1620 Investment Advisors Inc. bought a new position in shares of EPAM Systems during the 2nd quarter valued at approximately $69,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of EPAM Systems during the 2nd quarter valued at approximately $72,000. 91.58% of the stock is owned by institutional investors.

Insider Activity at EPAM Systems

In other news, CFO Jason D. Peterson sold 1,000 shares of the 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 completion of the sale, the chief financial officer now owns 24,836 shares of the company’s stock, valued at approximately $5,886,132. This represents a 3.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.30% of the stock is currently owned by insiders.

EPAM Systems Stock Performance

EPAM Systems stock opened at $244.86 on Friday. The stock has a market cap of $13.89 billion, a P/E ratio of 31.80, a price-to-earnings-growth ratio of 3.75 and a beta of 1.46. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 4.56. EPAM Systems, Inc. has a fifty-two week low of $169.43 and a fifty-two week high of $317.50. The firm’s fifty day moving average price is $202.58 and its 200-day moving average price is $198.38.

EPAM Systems declared that its board has approved a share repurchase plan on Thursday, August 8th that allows the company to buyback $500.00 million in 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 plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Scotiabank upgraded EPAM Systems from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $245.00 to $275.00 in a research note on Monday. Piper Sandler boosted their price objective on EPAM Systems from $225.00 to $258.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Needham & Company LLC increased their target price on shares of EPAM Systems from $215.00 to $265.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Itau BBA Securities raised shares of EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 price target on the stock in a research report on Friday, November 8th. Finally, Mizuho upped their price target on shares of EPAM Systems from $245.00 to $282.00 and gave the company an “outperform” rating in a research note on Wednesday. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.