EPAM Systems, Inc. (NYSE:EPAM) Shares Acquired by Atria Investments Inc

Atria Investments Inc boosted its position in EPAM Systems, Inc. (NYSE:EPAM) by 139.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,048 shares of the information technology services provider’s stock after purchasing an additional 2,356 shares during the period. Atria Investments Inc’s holdings in EPAM Systems were worth $806,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Raymond James & Associates increased its holdings in shares of EPAM Systems by 1,741.1% in the 3rd quarter. Raymond James & Associates now owns 36,694 shares of the information technology services provider’s stock valued at $7,303,000 after purchasing an additional 34,701 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of EPAM Systems by 251.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 19,128 shares of the information technology services provider’s stock worth $3,807,000 after acquiring an additional 13,690 shares in the last quarter. Diversified Trust Co acquired a new stake in shares of EPAM Systems in the 2nd quarter worth approximately $734,000. Vanguard Group Inc. increased its stake in EPAM Systems by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 6,865,123 shares of the information technology services provider’s stock valued at $1,895,872,000 after purchasing an additional 39,531 shares in the last quarter. Finally, MBB Public Markets I LLC acquired a new position in EPAM Systems during the second quarter worth $631,000. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Insider Transactions at EPAM Systems

In related news, CFO Jason D. Peterson sold 1,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.30% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on EPAM. Piper Sandler lifted their price target on EPAM Systems from $225.00 to $258.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. StockNews.com upgraded shares of EPAM Systems from a “hold” rating to a “buy” rating in a report on Friday. Deutsche Bank Aktiengesellschaft started coverage on shares of EPAM Systems in a report on Thursday, August 22nd. They issued a “hold” rating and a $204.00 price target on the stock. Susquehanna raised their price objective on shares of EPAM Systems from $240.00 to $270.00 and gave the stock a “positive” rating in a research note on Friday, November 8th. Finally, Needham & Company LLC upped their target price on EPAM Systems from $215.00 to $265.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $264.20.

EPAM Systems Stock Performance

Shares of EPAM stock opened at $233.42 on Tuesday. The firm has a market capitalization of $13.24 billion, a price-to-earnings ratio of 30.31, a price-to-earnings-growth ratio of 3.60 and a beta of 1.46. The company has a 50 day moving average price of $203.74 and a 200 day moving average price of $197.81. EPAM Systems, Inc. has a one year low of $169.43 and a one year high of $317.50. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 4.56.

EPAM Systems announced that its Board of Directors has authorized a share repurchase program 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 repurchase up to 4.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management 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.