EPAM Systems, Inc. (NYSE:EPAM) Stake Raised by HighTower Advisors LLC

HighTower Advisors LLC increased its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 10.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 18,458 shares of the information technology services provider’s stock after buying an additional 1,753 shares during the quarter. HighTower Advisors LLC’s holdings in EPAM Systems were worth $3,684,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geneva Capital Management LLC raised its holdings in EPAM Systems by 6.0% during the third quarter. Geneva Capital Management LLC now owns 71,281 shares of the information technology services provider’s stock worth $14,187,000 after purchasing an additional 4,027 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of EPAM Systems in the third quarter valued at $8,195,000. Victory Capital Management Inc. increased its holdings in shares of EPAM Systems by 247.6% in the third quarter. Victory Capital Management Inc. now owns 72,447 shares of the information technology services provider’s stock valued at $14,419,000 after buying an additional 51,603 shares in the last quarter. Raymond James & Associates increased its holdings in shares of EPAM Systems by 1,741.1% in the third quarter. Raymond James & Associates now owns 36,694 shares of the information technology services provider’s stock valued at $7,303,000 after buying an additional 34,701 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of EPAM Systems by 251.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 19,128 shares of the information technology services provider’s stock valued at $3,807,000 after buying an additional 13,690 shares in the last quarter. Institutional investors own 91.58% of the company’s stock.

Insider Activity

In related news, CFO Jason D. Peterson sold 1,000 shares of the 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 transaction, the chief financial officer now directly owns 24,836 shares in the company, valued at $5,886,132. This represents a 3.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 4.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on EPAM shares. Needham & Company LLC upped their price target on EPAM Systems from $215.00 to $265.00 and gave the company a “buy” rating in a report on Friday, November 8th. Citigroup lifted their price objective 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. Itau BBA Securities upgraded shares of EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 price objective on the stock in a research report on Friday, November 8th. Mizuho lifted their price objective on shares of EPAM Systems from $245.00 to $282.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, 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 report on Friday, September 6th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $268.95.

EPAM Systems Price Performance

EPAM opened at $252.95 on Thursday. EPAM Systems, Inc. has a one year low of $169.43 and a one year high of $317.50. 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 50 day simple moving average is $218.71 and its 200-day simple moving average is $202.79. The stock has a market capitalization of $14.35 billion, a P/E ratio of 32.85, a price-to-earnings-growth ratio of 3.76 and a beta of 1.49.

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.