Bank of Montreal Can Lowers Stock Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Bank of Montreal Can cut its stake in shares of EPAM Systems, Inc. (NYSE:EPAM) by 28.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 125,294 shares of the information technology services provider’s stock after selling 49,519 shares during the quarter. Bank of Montreal Can owned approximately 0.22% of EPAM Systems worth $24,991,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pacer Advisors Inc. increased its holdings in EPAM Systems by 14,325.2% during the 2nd quarter. Pacer Advisors Inc. now owns 657,070 shares of the information technology services provider’s stock worth $123,601,000 after purchasing an additional 652,515 shares during the period. TD Asset Management Inc grew its position in shares of EPAM Systems by 80.0% during the 2nd quarter. TD Asset Management Inc now owns 595,486 shares of the information technology services provider’s stock worth $112,017,000 after buying an additional 264,570 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of EPAM Systems by 45.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 515,351 shares of the information technology services provider’s stock valued at $102,570,000 after buying an additional 160,989 shares during the period. Manning & Napier Advisors LLC bought a new stake in shares of EPAM Systems in the second quarter valued at about $84,850,000. Finally, Massachusetts Financial Services Co. MA lifted its stake in EPAM Systems by 643.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 417,526 shares of the information technology services provider’s stock worth $83,100,000 after acquiring an additional 361,363 shares during the period. Institutional investors own 91.58% of the company’s stock.

Insider Buying and Selling at EPAM Systems

In other EPAM Systems news, CFO Jason D. Peterson sold 1,000 shares of EPAM Systems 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 completion of the sale, the chief financial officer now directly owns 24,836 shares in the company, valued at approximately $5,886,132. The trade was a 3.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 4.30% of the company’s stock.

EPAM Systems Price Performance

Shares of EPAM opened at $243.92 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.56 and a quick ratio of 4.56. The company’s fifty day moving average price is $210.25 and its 200-day moving average price is $199.15. EPAM Systems, Inc. has a 1-year low of $169.43 and a 1-year high of $317.50. The firm has a market capitalization of $13.84 billion, a PE ratio of 31.68, a price-to-earnings-growth ratio of 3.76 and a beta of 1.46.

EPAM Systems declared that its board has initiated a share repurchase plan on Thursday, August 8th that allows the company to buyback $500.00 million in 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 plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms have commented on EPAM. JPMorgan Chase & Co. raised their target price 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. StockNews.com raised shares of EPAM Systems from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Jefferies Financial Group upped their target price on EPAM Systems from $237.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Susquehanna lifted their price target on EPAM Systems from $240.00 to $270.00 and gave the company a “positive” rating in a report on Friday, November 8th. Finally, Citigroup upped their price objective on EPAM Systems from $207.00 to $210.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, EPAM Systems has a consensus rating of “Moderate Buy” and a consensus target price of $264.20.

About EPAM Systems

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.