Empirical Finance LLC Has $271,000 Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Empirical Finance LLC grew its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 5.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,362 shares of the information technology services provider’s stock after buying an additional 67 shares during the quarter. Empirical Finance LLC’s holdings in EPAM Systems were worth $271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in EPAM. Geneva Capital Management LLC lifted its stake in EPAM Systems by 6.0% in the third 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 during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of EPAM Systems in the 3rd quarter valued at $8,195,000. Raymond James & Associates boosted its holdings in 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 worth $7,303,000 after purchasing an additional 34,701 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in 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 worth $3,807,000 after buying an additional 13,690 shares during the last quarter. Finally, Diversified Trust Co bought a new position in EPAM Systems during the second quarter valued at about $734,000. Institutional investors own 91.58% of the company’s stock.

Insider Buying and Selling

In other EPAM Systems news, CFO Jason D. Peterson sold 1,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $237.00, for a total value of $237,000.00. Following the transaction, the chief financial officer now directly owns 24,836 shares in the company, valued at $5,886,132. The trade was a 3.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on EPAM shares. StockNews.com upgraded EPAM Systems from a “hold” rating to a “buy” rating in a research note on Friday. Barclays increased their price target on EPAM Systems from $200.00 to $225.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Needham & Company LLC boosted their price objective on shares of EPAM Systems from $215.00 to $265.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Deutsche Bank Aktiengesellschaft started coverage on shares of EPAM Systems in a research note on Thursday, August 22nd. They issued a “hold” rating and a $204.00 target price on the stock. Finally, Susquehanna boosted their target price 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. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, EPAM Systems has a consensus rating of “Moderate Buy” and a consensus price target of $264.20.

EPAM Systems Stock Down 3.9 %

Shares of EPAM opened at $235.29 on Monday. EPAM Systems, Inc. has a 12 month low of $169.43 and a 12 month high of $317.50. The stock has a market cap of $13.35 billion, a price-to-earnings ratio of 30.56, a P/E/G ratio of 3.60 and a beta of 1.46. The company has a 50-day moving average price of $203.19 and a two-hundred day moving average price of $197.84. The company has a quick ratio of 4.56, a current ratio of 4.56 and a debt-to-equity ratio of 0.01.

EPAM Systems announced that its board has approved a share buyback program on Thursday, August 8th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the information technology services provider to repurchase up to 4.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

EPAM Systems Company 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.