Aigen Investment Management LP Sells 65 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Aigen Investment Management LP lowered its holdings in EPAM Systems, Inc. (NYSE:EPAM) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,330 shares of the information technology services provider’s stock after selling 65 shares during the quarter. Aigen Investment Management LP’s holdings in EPAM Systems were worth $464,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of EPAM. Janney Montgomery Scott LLC purchased a new stake in EPAM Systems during the first quarter worth $272,000. Empowered Funds LLC bought a new stake in EPAM Systems during the first quarter valued at about $220,000. Russell Investments Group Ltd. grew its stake in EPAM Systems by 62.6% in the first quarter. Russell Investments Group Ltd. now owns 46,381 shares of the information technology services provider’s stock valued at $12,809,000 after purchasing an additional 17,848 shares during the last quarter. Avantax Advisory Services Inc. raised its holdings in EPAM Systems by 9.2% in the first quarter. Avantax Advisory Services Inc. now owns 1,701 shares of the information technology services provider’s stock worth $470,000 after purchasing an additional 143 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of EPAM Systems by 17.8% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,790 shares of the information technology services provider’s stock valued at $770,000 after buying an additional 422 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Insider Activity at EPAM Systems

In related news, CFO Jason D. Peterson sold 1,000 shares of the company’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 completion of the transaction, the chief financial officer now owns 24,836 shares of the company’s stock, 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 SEC, which can be accessed through this hyperlink. Company insiders own 4.30% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on EPAM shares. StockNews.com upgraded shares of EPAM Systems from a “hold” rating to a “buy” rating in a research note on Friday. Scotiabank upgraded EPAM Systems from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $245.00 to $275.00 in a report on Monday. JPMorgan Chase & Co. boosted their target price on EPAM Systems from $222.00 to $262.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Mizuho increased their price target on EPAM Systems from $245.00 to $282.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Needham & Company LLC boosted their price target on EPAM Systems from $215.00 to $265.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Eight 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.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $264.20.

EPAM Systems Trading Down 1.5 %

Shares of NYSE:EPAM opened at $244.86 on Friday. The company has a current ratio of 4.56, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01. EPAM Systems, Inc. has a 12-month low of $169.43 and a 12-month high of $317.50. The business has a 50 day moving average of $202.58 and a two-hundred day moving average of $198.38. The company has a market capitalization of $13.89 billion, a PE ratio of 31.80, a PEG ratio of 3.75 and a beta of 1.46.

EPAM Systems declared that its Board of Directors has initiated a share repurchase plan 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 buy up to 4.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is 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.