Point72 DIFC Ltd Sells 18,025 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Point72 DIFC Ltd reduced its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 98.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 223 shares of the information technology services provider’s stock after selling 18,025 shares during the period. Point72 DIFC Ltd’s holdings in EPAM Systems were worth $44,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of EPAM. Metis Global Partners LLC boosted its holdings in EPAM Systems by 2.5% during the third quarter. Metis Global Partners LLC now owns 2,029 shares of the information technology services provider’s stock valued at $404,000 after acquiring an additional 50 shares during the period. Retirement Systems of Alabama boosted its stake in EPAM Systems by 0.4% during the 2nd quarter. Retirement Systems of Alabama now owns 12,788 shares of the information technology services provider’s stock valued at $2,406,000 after purchasing an additional 52 shares during the period. Taylor Frigon Capital Management LLC boosted its stake in EPAM Systems by 0.5% during the 2nd quarter. Taylor Frigon Capital Management LLC now owns 12,339 shares of the information technology services provider’s stock valued at $2,321,000 after purchasing an additional 56 shares during the period. First Horizon Advisors Inc. grew its holdings in EPAM Systems by 21.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 325 shares of the information technology services provider’s stock valued at $65,000 after buying an additional 57 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in EPAM Systems by 1.1% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,788 shares of the information technology services provider’s stock worth $1,089,000 after buying an additional 63 shares during the period. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other 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 value of $237,000.00. Following the completion of the transaction, the chief financial officer now owns 24,836 shares in the company, valued at approximately $5,886,132. The trade was a 3.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 4.30% of the company’s stock.

Analyst Ratings Changes

EPAM has been the topic of several research analyst reports. Scotiabank upgraded shares of EPAM Systems from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $245.00 to $275.00 in a research note on Monday, November 11th. Citigroup raised their price target 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. Deutsche Bank Aktiengesellschaft began coverage on shares of EPAM Systems in a research report on Thursday, August 22nd. They set a “hold” rating and a $204.00 price objective for the company. The Goldman Sachs Group raised EPAM Systems from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $235.00 to $295.00 in a research report on Friday. Finally, Itau BBA Securities raised EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 price target for the company in a report on Friday, November 8th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, EPAM Systems presently has an average rating of “Moderate Buy” and an average target price of $268.95.

EPAM Systems Trading Up 0.8 %

Shares of EPAM Systems stock opened at $247.37 on Tuesday. EPAM Systems, Inc. has a 12-month low of $169.43 and a 12-month high of $317.50. The stock has a market capitalization of $14.03 billion, a P/E ratio of 32.13, a price-to-earnings-growth ratio of 3.76 and a beta of 1.49. The company has a 50-day simple moving average of $216.50 and a 200 day simple moving average of $201.95. The company has a quick ratio of 4.56, a current ratio of 4.56 and a debt-to-equity ratio of 0.01.

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.