Geneva Capital Management LLC Acquires 4,027 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Geneva Capital Management LLC raised its holdings in EPAM Systems, Inc. (NYSE:EPAM) by 6.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 71,281 shares of the information technology services provider’s stock after buying an additional 4,027 shares during the quarter. Geneva Capital Management LLC owned 0.13% of EPAM Systems worth $14,187,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. boosted its stake in EPAM Systems by 247.6% during the third quarter. Victory Capital Management Inc. now owns 72,447 shares of the information technology services provider’s stock worth $14,419,000 after acquiring an additional 51,603 shares in the last quarter. Meridian Management Co. raised its holdings in shares of EPAM Systems by 1.6% during the third quarter. Meridian Management Co. now owns 22,231 shares of the information technology services provider’s stock valued at $4,425,000 after purchasing an additional 351 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of EPAM Systems by 1.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 127,156 shares of the information technology services provider’s stock worth $25,308,000 after purchasing an additional 2,372 shares in the last quarter. Versor Investments LP grew its stake in shares of EPAM Systems by 92.5% in the 3rd quarter. Versor Investments LP now owns 3,078 shares of the information technology services provider’s stock valued at $613,000 after buying an additional 1,479 shares during the period. Finally, Venturi Wealth Management LLC increased its position in EPAM Systems by 45.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 527 shares of the information technology services provider’s stock valued at $105,000 after buying an additional 164 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Needham & Company LLC raised their price objective on EPAM Systems from $215.00 to $265.00 and gave the company a “buy” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. boosted their price target on shares of EPAM Systems from $222.00 to $262.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Deutsche Bank Aktiengesellschaft started coverage on shares of EPAM Systems in a research note on Thursday, August 22nd. They issued a “hold” rating and a $204.00 price objective on the stock. Scotiabank upgraded shares of EPAM Systems from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $245.00 to $275.00 in a report on Monday. Finally, Itau BBA Securities upgraded EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 price target for the company in a research note on Friday, November 8th. Nine investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $263.00.

Insider Transactions at EPAM Systems

In related news, CFO Jason D. Peterson sold 1,000 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $237.00, for a total transaction of $237,000.00. Following the sale, the chief financial officer now owns 24,836 shares of the company’s stock, valued at approximately $5,886,132. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.30% of the company’s stock.

EPAM Systems Stock Up 1.1 %

EPAM opened at $245.89 on Wednesday. EPAM Systems, Inc. has a 12 month low of $169.43 and a 12 month high of $317.50. The company has a market cap of $13.95 billion, a PE ratio of 31.93, a price-to-earnings-growth ratio of 3.93 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. The company has a 50 day moving average of $200.80 and a 200 day moving average of $197.70.

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

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.