Oak Thistle LLC Invests $5.06 Million in EPAM Systems, Inc. (NYSE:EPAM)

Oak Thistle LLC purchased a new stake in EPAM Systems, Inc. (NYSE:EPAM) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 21,630 shares of the information technology services provider’s stock, valued at approximately $5,058,000. EPAM Systems makes up about 1.5% of Oak Thistle LLC’s portfolio, making the stock its biggest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EPAM. Pacer Advisors Inc. increased its holdings in shares of EPAM Systems by 14,325.2% in the 2nd quarter. Pacer Advisors Inc. now owns 657,070 shares of the information technology services provider’s stock valued at $123,601,000 after purchasing an additional 652,515 shares during the period. Massachusetts Financial Services Co. MA increased its stake in EPAM Systems by 643.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 417,526 shares of the information technology services provider’s stock valued at $83,100,000 after buying an additional 361,363 shares during the period. Epoch Investment Partners Inc. lifted its position in EPAM Systems by 97.7% in the 2nd quarter. Epoch Investment Partners Inc. now owns 338,667 shares of the information technology services provider’s stock worth $63,707,000 after buying an additional 167,343 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in EPAM Systems by 45.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 515,351 shares of the information technology services provider’s stock worth $102,570,000 after buying an additional 160,989 shares in the last quarter. Finally, Citigroup Inc. boosted its stake in shares of EPAM Systems by 199.5% during the 3rd quarter. Citigroup Inc. now owns 173,721 shares of the information technology services provider’s stock valued at $34,576,000 after buying an additional 115,720 shares during the period. Institutional investors and hedge funds own 91.58% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on EPAM shares. Citigroup increased their price objective on EPAM Systems from $207.00 to $210.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Piper Sandler upped their target price on EPAM Systems from $225.00 to $258.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. 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. Itau BBA Securities upgraded EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 price objective on the stock in a report on Friday, November 8th. Finally, Needham & Company LLC raised their price objective on shares of EPAM Systems from $215.00 to $265.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $267.84.

Insider Buying and Selling at EPAM Systems

In other EPAM Systems news, CFO Jason D. Peterson sold 1,000 shares of the company’s stock in a transaction that occurred 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 completion of 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Viktar Dvorkin sold 6,758 shares of EPAM Systems stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $256.53, for a total value of $1,733,629.74. Following the sale, the senior vice president now directly owns 13,000 shares in the company, valued at $3,334,890. The trade was a 34.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,222 shares of company stock valued at $2,089,878 in the last ninety days. Company insiders own 4.30% of the company’s stock.

EPAM Systems Trading Up 0.2 %

Shares of EPAM Systems stock opened at $226.24 on Wednesday. EPAM Systems, Inc. has a 1 year low of $169.43 and a 1 year high of $317.50. The company’s fifty day simple moving average is $238.41 and its 200-day simple moving average is $212.59. The company has a market cap of $12.83 billion, a price-to-earnings ratio of 29.38, a PEG ratio of 3.74 and a beta of 1.50. The company has a current ratio of 4.56, a quick 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.