Kestra Investment Management LLC Makes New $251,000 Investment in EPAM Systems, Inc. (NYSE:EPAM)

Kestra Investment Management LLC acquired a new stake in shares of EPAM Systems, Inc. (NYSE:EPAM) during the third quarter, according to its most recent disclosure with the SEC. The fund acquired 1,262 shares of the information technology services provider’s stock, valued at approximately $251,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EPAM. ORG Partners LLC increased its stake 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 worth $28,000 after purchasing an additional 150 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in EPAM Systems during the second quarter valued at about $29,000. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of EPAM Systems by 181.8% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 155 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 100 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of EPAM Systems by 101.0% in the third 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 period. Finally, Capital Performance Advisors LLP purchased a new stake in shares of EPAM Systems during the third quarter worth about $44,000. Institutional investors own 91.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. 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 report on Friday, November 8th. Citigroup upped their target price on shares of EPAM Systems from $207.00 to $210.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Mizuho lifted their price target on shares of EPAM Systems from $245.00 to $282.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Piper Sandler boosted their price target 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. Finally, JPMorgan Chase & Co. lifted their target price on EPAM Systems from $222.00 to $262.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $264.20.

Insiders Place Their Bets

In other EPAM Systems news, CFO Jason D. Peterson sold 1,000 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $237.00, for a total value of $237,000.00. Following the transaction, the chief financial officer now 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 owned by insiders.

EPAM Systems Price Performance

EPAM Systems stock opened at $243.79 on Tuesday. The firm has a market capitalization of $13.83 billion, a PE ratio of 31.66, a price-to-earnings-growth ratio of 3.73 and a beta of 1.46. EPAM Systems, Inc. has a 12-month low of $169.43 and a 12-month high of $317.50. The firm has a 50-day moving average price of $211.19 and a 200-day moving average price of $199.67. 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 declared that its board has approved a share buyback program on Thursday, August 8th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to purchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management 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.