Insider Selling: EPAM Systems, Inc. (NYSE:EPAM) CFO Sells $237,000.00 in Stock

EPAM Systems, Inc. (NYSE:EPAM) CFO Jason D. Peterson sold 1,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $237.00, for a total value of $237,000.00. Following the sale, the chief financial officer now directly owns 24,836 shares in the company, 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 is available through this hyperlink.

EPAM Systems Stock Performance

EPAM Systems stock opened at $244.86 on Friday. The business has a 50 day moving average of $202.58 and a 200-day moving average of $198.38. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.56 and a quick ratio of 4.56. EPAM Systems, Inc. has a 1 year low of $169.43 and a 1 year high of $317.50. The company has a market capitalization of $13.89 billion, a P/E ratio of 31.80, a P/E/G ratio of 3.81 and a beta of 1.46.

EPAM Systems declared that its Board of Directors has initiated a stock buyback program on Thursday, August 8th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes 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 leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Janney Montgomery Scott LLC bought a new position in EPAM Systems during the 1st quarter worth approximately $272,000. Envestnet Portfolio Solutions Inc. lifted its holdings in EPAM Systems by 3.8% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 4,026 shares of the information technology services provider’s stock valued at $1,112,000 after buying an additional 147 shares during the period. Empowered Funds LLC bought a new stake in EPAM Systems during the first quarter valued at $220,000. SG Americas Securities LLC grew its holdings in EPAM Systems by 58.8% during the 1st quarter. SG Americas Securities LLC now owns 6,981 shares of the information technology services provider’s stock worth $1,928,000 after acquiring an additional 2,586 shares during the period. Finally, Forsta AP Fonden lifted its stake in shares of EPAM Systems by 11.2% in the 1st quarter. Forsta AP Fonden now owns 11,900 shares of the information technology services provider’s stock valued at $3,286,000 after purchasing an additional 1,200 shares during the period. 91.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EPAM has been the topic of a number of recent research reports. StockNews.com upgraded shares of EPAM Systems from a “hold” rating to a “buy” rating in a report on Friday. JPMorgan Chase & Co. boosted their price target on shares of EPAM Systems from $222.00 to $262.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of EPAM Systems in a research note on Thursday, August 22nd. They set a “hold” rating and a $204.00 price objective for the company. Itau BBA Securities raised EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 price target for the company in a research report on Friday, November 8th. Finally, Mizuho raised their target price on shares of EPAM Systems from $245.00 to $282.00 and gave the company an “outperform” rating in a research note on Wednesday. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, EPAM Systems presently has a consensus rating of “Moderate Buy” and a consensus target price 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.