Oppenheimer Asset Management Inc. Grows Holdings in EPAM Systems, Inc. $EPAM

Oppenheimer Asset Management Inc. grew its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 26.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 65,040 shares of the information technology services provider’s stock after purchasing an additional 13,408 shares during the period. Oppenheimer Asset Management Inc.’s holdings in EPAM Systems were worth $9,807,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of EPAM. Norges Bank purchased a new position in shares of EPAM Systems during the second quarter valued at approximately $137,671,000. Invesco Ltd. raised its holdings in EPAM Systems by 14.9% in the 2nd quarter. Invesco Ltd. now owns 4,102,790 shares of the information technology services provider’s stock valued at $725,455,000 after acquiring an additional 533,292 shares during the last quarter. ARGA Investment Management LP purchased a new position in shares of EPAM Systems during the 2nd quarter worth $84,456,000. Van Berkom & Associates Inc. lifted its stake in shares of EPAM Systems by 4,413.0% during the 3rd quarter. Van Berkom & Associates Inc. now owns 369,435 shares of the information technology services provider’s stock worth $55,707,000 after purchasing an additional 361,249 shares during the period. Finally, Aikya Investment Management Ltd boosted its holdings in shares of EPAM Systems by 97.0% during the third quarter. Aikya Investment Management Ltd now owns 704,821 shares of the information technology services provider’s stock worth $106,280,000 after purchasing an additional 347,091 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

EPAM Systems Stock Up 2.1%

Shares of NYSE:EPAM opened at $190.57 on Tuesday. The stock has a 50-day simple moving average of $207.65 and a 200-day simple moving average of $178.74. The stock has a market capitalization of $10.53 billion, a P/E ratio of 29.09, a PEG ratio of 2.24 and a beta of 1.72. EPAM Systems, Inc. has a 1 year low of $138.15 and a 1 year high of $269.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.02 and a current ratio of 3.02.

EPAM Systems announced that its Board of Directors has authorized a stock buyback program on Tuesday, October 21st that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the information technology services provider to buy up to 12.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In related news, SVP Boris Shnayder sold 5,000 shares of EPAM Systems stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $207.00, for a total transaction of $1,035,000.00. Following the transaction, the senior vice president owned 15,645 shares in the company, valued at approximately $3,238,515. The trade was a 24.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Gary C. Abrahams sold 600 shares of the stock in a transaction on Monday, November 17th. The shares were sold at an average price of $179.29, for a total value of $107,574.00. Following the completion of the sale, the vice president owned 2,720 shares of the company’s stock, valued at approximately $487,668.80. This represents a 18.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 8,100 shares of company stock worth $1,597,074 over the last ninety days. 4.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on EPAM. JPMorgan Chase & Co. increased their target price on EPAM Systems from $201.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Mizuho upped their price objective on shares of EPAM Systems from $225.00 to $228.00 and gave the company an “outperform” rating in a research note on Tuesday, November 11th. Zacks Research cut shares of EPAM Systems from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 28th. Wells Fargo & Company boosted their target price on shares of EPAM Systems from $185.00 to $247.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Finally, Truist Financial initiated coverage on shares of EPAM Systems in a research note on Tuesday, January 6th. They set a “hold” rating and a $220.00 price target on the stock. Ten investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, EPAM Systems has an average rating of “Moderate Buy” and an average target price of $214.20.

EPAM Systems Profile

EPAM Systems, Inc is a global provider of digital platform engineering and software development services. The company partners with clients across industries—such as financial services, healthcare, retail, and technology—to design, develop, and maintain complex software applications and digital experiences. EPAM’s offerings include custom software development, application management, infrastructure management, quality assurance, and testing services, enabling organizations to accelerate digital transformation and enhance operational efficiency.

In addition to its core engineering capabilities, EPAM delivers a range of specialized services, including product design and consulting, data and analytics, cloud computing, DevOps, and cybersecurity.