Sompo Asset Management Co. Ltd. Sells 430 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Sompo Asset Management Co. Ltd. lessened its holdings in EPAM Systems, Inc. (NYSE:EPAM) by 9.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,990 shares of the information technology services provider’s stock after selling 430 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in EPAM Systems were worth $794,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in EPAM. Cerity Partners LLC raised its position in EPAM Systems by 27.9% in the third quarter. Cerity Partners LLC now owns 45,574 shares of the information technology services provider’s stock worth $9,071,000 after purchasing an additional 9,932 shares in the last quarter. Nicolet Advisory Services LLC grew its stake in shares of EPAM Systems by 5.9% in the 3rd quarter. Nicolet Advisory Services LLC now owns 2,161 shares of the information technology services provider’s stock valued at $423,000 after purchasing an additional 120 shares during the period. Citigroup Inc. raised its holdings in shares of EPAM Systems by 199.5% in the 3rd quarter. Citigroup Inc. now owns 173,721 shares of the information technology services provider’s stock worth $34,576,000 after buying an additional 115,720 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of EPAM Systems by 45.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 515,351 shares of the information technology services provider’s stock worth $102,570,000 after buying an additional 160,989 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in EPAM Systems by 643.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 417,526 shares of the information technology services provider’s stock valued at $83,100,000 after buying an additional 361,363 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

EPAM Systems Stock Performance

EPAM Systems stock opened at $245.27 on Friday. The company has a market cap of $13.91 billion, a PE ratio of 31.85, a PEG ratio of 3.75 and a beta of 1.46. 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 1 year low of $169.43 and a 1 year high of $317.50. The company’s 50-day moving average is $206.50 and its two-hundred day moving average is $197.92.

EPAM Systems announced that its Board of Directors has approved a stock buyback 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 reacquire up to 4.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

EPAM has been the subject of several recent analyst reports. Susquehanna increased their price objective on EPAM Systems from $240.00 to $270.00 and gave the stock a “positive” rating in a research note on Friday, November 8th. Jefferies Financial Group lifted their price target on shares of EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 9th. Needham & Company LLC boosted their price target 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. Deutsche Bank Aktiengesellschaft started coverage on shares of EPAM Systems in a report on Thursday, August 22nd. They set a “hold” rating and a $204.00 price objective for the company. Finally, Citigroup boosted their target price on EPAM Systems from $207.00 to $210.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $264.20.

Insider Activity at EPAM Systems

In other 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 sale, the chief financial officer now directly owns 24,836 shares of the company’s stock, valued at $5,886,132. This represents a 3.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.30% of the stock is currently owned by company insiders.

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.