Tokio Marine Asset Management Co. Ltd. Sells 164 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Tokio Marine Asset Management Co. Ltd. trimmed its holdings in EPAM Systems, Inc. (NYSE:EPAM) by 7.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,920 shares of the information technology services provider’s stock after selling 164 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in EPAM Systems were worth $382,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Geneva Capital Management LLC lifted its position in EPAM Systems by 6.0% in the 3rd quarter. Geneva Capital Management LLC now owns 71,281 shares of the information technology services provider’s stock valued at $14,187,000 after acquiring an additional 4,027 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of EPAM Systems in the third quarter worth approximately $8,195,000. Raymond James & Associates lifted its holdings in shares of EPAM Systems by 1,741.1% in the third 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 position in shares of EPAM Systems by 251.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 19,128 shares of the information technology services provider’s stock valued at $3,807,000 after buying an additional 13,690 shares during the last quarter. Finally, Diversified Trust Co bought a new stake in EPAM Systems during the second quarter worth $734,000. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on EPAM. Scotiabank raised shares of EPAM Systems from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the stock from $245.00 to $275.00 in a report on Monday, November 11th. Susquehanna upped their price objective on shares of EPAM Systems from $240.00 to $270.00 and gave the stock a “positive” rating in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft began coverage on shares of EPAM Systems in a research report on Thursday, August 22nd. They set a “hold” rating and a $204.00 target price on the stock. Jefferies Financial Group upped their target price on EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 9th. Finally, Needham & Company LLC increased their price target on EPAM Systems from $215.00 to $265.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $264.20.

Insider Activity at EPAM Systems

In other EPAM Systems news, CFO Jason D. Peterson sold 1,000 shares of EPAM Systems stock in a transaction dated 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 transaction, the chief financial officer now owns 24,836 shares of the company’s stock, valued at $5,886,132. The trade was a 3.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.30% of the stock is owned by company insiders.

EPAM Systems Stock Performance

NYSE EPAM opened at $235.29 on Friday. The firm has a market cap of $13.35 billion, a P/E ratio of 30.56, a price-to-earnings-growth ratio of 3.81 and a beta of 1.46. The company has a quick ratio of 4.56, a current ratio of 4.56 and a debt-to-equity ratio of 0.01. The company’s 50 day moving average is $203.19 and its 200-day moving average is $198.10. EPAM Systems, Inc. has a 12-month low of $169.43 and a 12-month high of $317.50.

EPAM Systems declared that its board has approved a share repurchase plan on Thursday, August 8th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the information technology services provider to purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically a sign 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.