Tobam Sells 3,898 Shares of EPAM Systems, Inc. $EPAM

Tobam reduced its stake in shares of EPAM Systems, Inc. (NYSE:EPAM) by 66.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,976 shares of the information technology services provider’s stock after selling 3,898 shares during the quarter. Tobam’s holdings in EPAM Systems were worth $349,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC acquired a new stake in shares of EPAM Systems in the 4th quarter valued at $218,000. Envestnet Asset Management Inc. boosted its holdings in EPAM Systems by 48.0% in the first quarter. Envestnet Asset Management Inc. now owns 105,580 shares of the information technology services provider’s stock valued at $17,826,000 after acquiring an additional 34,260 shares during the last quarter. Nisa Investment Advisors LLC increased its position in EPAM Systems by 119.2% in the first quarter. Nisa Investment Advisors LLC now owns 1,975 shares of the information technology services provider’s stock worth $333,000 after purchasing an additional 1,074 shares during the period. New York State Common Retirement Fund raised its holdings in EPAM Systems by 71.4% during the 1st quarter. New York State Common Retirement Fund now owns 73,890 shares of the information technology services provider’s stock worth $12,476,000 after purchasing an additional 30,778 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in EPAM Systems by 98.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,628,304 shares of the information technology services provider’s stock valued at $274,923,000 after purchasing an additional 809,423 shares during the period. Institutional investors own 91.58% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Cowen upgraded shares of EPAM Systems from a “hold” rating to a “buy” rating in a research report on Monday, August 18th. Mizuho lifted their target price on shares of EPAM Systems from $225.00 to $228.00 and gave the stock an “outperform” rating in a report on Tuesday. Morgan Stanley cut their target price on EPAM Systems from $210.00 to $175.00 and set an “equal weight” rating on the stock in a research note on Tuesday, September 9th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of EPAM Systems in a research note on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of EPAM Systems in a research note on Thursday, July 17th. They set a “hold” rating and a $171.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, EPAM Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $213.81.

Insider Buying and Selling at EPAM Systems

In other news, SVP Sergey Yezhkov sold 1,511 shares of the firm’s stock in a transaction that occurred on Tuesday, October 21st. The shares were sold at an average price of $150.27, for a total transaction of $227,057.97. Following the completion of the transaction, the senior vice president directly owned 146 shares of the company’s stock, valued at $21,939.42. This trade represents a 91.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.30% of the stock is owned by corporate insiders.

EPAM Systems Price Performance

EPAM stock opened at $180.15 on Wednesday. The stock has a market cap of $10.03 billion, a PE ratio of 25.70, a price-to-earnings-growth ratio of 2.36 and a beta of 1.67. The stock has a 50-day moving average price of $157.07 and a two-hundred day moving average price of $165.71. EPAM Systems, Inc. has a 1 year low of $138.15 and a 1 year high of $269.00. The company has a current ratio of 3.17, a quick ratio of 3.17 and a debt-to-equity ratio of 0.01.

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

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.