Empowered Funds LLC Invests $7.54 Million in EPAM Systems, Inc. (NYSE:EPAM)

Empowered Funds LLC purchased a new stake in EPAM Systems, Inc. (NYSE:EPAM) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 37,870 shares of the information technology services provider’s stock, valued at approximately $7,537,000.

Other large investors also recently bought and sold shares of the company. ORG Partners LLC grew its position in shares of EPAM Systems by 5,000.0% in the second 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 period. Opal Wealth Advisors LLC purchased a new position in EPAM Systems in the 2nd quarter valued at about $29,000. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in EPAM Systems by 181.8% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 155 shares of the information technology services provider’s stock worth $31,000 after buying an additional 100 shares during the last quarter. Farther Finance Advisors LLC increased its stake 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 buying an additional 106 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in shares of EPAM Systems during the third quarter valued at approximately $44,000. Institutional investors and hedge funds own 91.58% of the company’s stock.

EPAM Systems Trading Down 3.9 %

EPAM opened at $235.29 on Friday. EPAM Systems, Inc. has a 52 week low of $169.43 and a 52 week high of $317.50. 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 business has a fifty day simple moving average of $203.19 and a 200-day simple moving average of $198.10. The firm has a market cap of $13.35 billion, a P/E ratio of 30.56, a P/E/G ratio of 3.81 and a beta of 1.46.

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on EPAM shares. Scotiabank raised EPAM Systems from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock from $245.00 to $275.00 in a research note on Monday, November 11th. Piper Sandler lifted their target price on shares of EPAM Systems from $225.00 to $258.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Barclays increased their target price on shares of EPAM Systems from $200.00 to $225.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Jefferies Financial Group boosted their price target on shares of EPAM Systems from $237.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Finally, Mizuho increased their price objective on shares of EPAM Systems from $245.00 to $282.00 and gave the company an “outperform” rating in a report on Wednesday. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $264.20.

Insider Buying and Selling

In related 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 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.30% of the stock is owned by corporate 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.