EPAM Systems, Inc. (NYSE:EPAM) Shares Acquired by Meridian Management Co.

Meridian Management Co. increased its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 1.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,231 shares of the information technology services provider’s stock after purchasing an additional 351 shares during the quarter. EPAM Systems accounts for approximately 1.1% of Meridian Management Co.’s investment portfolio, making the stock its 25th largest holding. Meridian Management Co.’s holdings in EPAM Systems were worth $4,425,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. lifted its stake in EPAM Systems by 1.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 127,156 shares of the information technology services provider’s stock valued at $25,308,000 after acquiring an additional 2,372 shares during the period. Versor Investments LP raised its holdings in shares of EPAM Systems by 92.5% during the third quarter. Versor Investments LP now owns 3,078 shares of the information technology services provider’s stock worth $613,000 after purchasing an additional 1,479 shares during the last quarter. Venturi Wealth Management LLC lifted its position in EPAM Systems by 45.2% during the third quarter. Venturi Wealth Management LLC now owns 527 shares of the information technology services provider’s stock valued at $105,000 after purchasing an additional 164 shares during the period. State of New Jersey Common Pension Fund D boosted its holdings in EPAM Systems by 0.8% in the third quarter. State of New Jersey Common Pension Fund D now owns 54,598 shares of the information technology services provider’s stock valued at $10,867,000 after purchasing an additional 427 shares during the last quarter. Finally, Truxt Investmentos Ltda. acquired a new stake in EPAM Systems during the 3rd quarter worth about $1,905,000. Hedge funds and other institutional investors own 91.58% of the company’s stock.

EPAM Systems Stock Up 4.2 %

Shares of EPAM opened at $243.25 on Tuesday. The stock has a 50 day moving average price of $199.79 and a 200 day moving average price of $197.65. 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 4.84 and a current ratio of 4.56. The stock has a market capitalization of $13.85 billion, a price-to-earnings ratio of 31.59, a PEG ratio of 5.12 and a beta of 1.46.

EPAM Systems announced that its Board of Directors has approved a share buyback plan on Thursday, August 8th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the information technology services provider to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages have recently issued reports on EPAM. Jefferies Financial Group boosted their price objective on EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 9th. Itau BBA Securities upgraded EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 price objective on the stock in a research report on Friday. Barclays lifted their target price on shares of EPAM Systems from $200.00 to $225.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. StockNews.com downgraded shares of EPAM Systems from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Needham & Company LLC lifted their price objective on shares of EPAM Systems from $215.00 to $265.00 and gave the company a “buy” rating in a report on Friday. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, EPAM Systems has an average rating of “Moderate Buy” and an average target price of $263.00.

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.