Centiva Capital LP Takes $2.13 Million Position in EPAM Systems, Inc. (NYSE:EPAM)

Centiva Capital LP purchased a new stake in shares of EPAM Systems, Inc. (NYSE:EPAM) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 10,700 shares of the information technology services provider’s stock, valued at approximately $2,130,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. ORG Partners LLC lifted its stake in shares of EPAM Systems by 5,000.0% in the 2nd quarter. ORG Partners LLC now owns 153 shares of the information technology services provider’s stock valued at $28,000 after purchasing an additional 150 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of EPAM Systems in the 2nd quarter valued at $29,000. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of EPAM Systems by 181.8% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 155 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 100 shares during the last quarter. Farther Finance Advisors LLC lifted its position in EPAM Systems by 101.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 211 shares of the information technology services provider’s stock worth $42,000 after acquiring an additional 106 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in EPAM Systems during the 3rd quarter worth $44,000. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Jason D. Peterson sold 1,000 shares of the company’s 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on EPAM shares. 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. Jefferies Financial Group upped their price objective on shares of EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Mizuho upped their price objective on shares of EPAM Systems from $245.00 to $282.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. upped their price objective on shares of EPAM Systems from $222.00 to $262.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Finally, Needham & Company LLC upped their price objective on shares of EPAM Systems from $215.00 to $265.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $264.20.

EPAM Systems Price Performance

Shares of EPAM Systems stock opened at $243.79 on Tuesday. The company has a current ratio of 4.56, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $13.83 billion, a price-to-earnings ratio of 31.66, a P/E/G ratio of 3.73 and a beta of 1.49. EPAM Systems, Inc. has a 1-year low of $169.43 and a 1-year high of $317.50. The firm’s 50-day moving average price is $211.19 and its two-hundred day moving average price is $199.67.

EPAM Systems declared that its Board of Directors has initiated a share buyback program on Thursday, August 8th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to repurchase up to 4.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management 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.