EPAM Systems, Inc. (NYSE:EPAM) Shares Sold by Amalgamated Bank

Amalgamated Bank reduced its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 34.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,170 shares of the information technology services provider’s stock after selling 5,886 shares during the period. Amalgamated Bank’s holdings in EPAM Systems were worth $2,223,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC purchased a new stake in shares of EPAM Systems in the first quarter worth approximately $272,000. Envestnet Portfolio Solutions Inc. lifted its position in EPAM Systems by 3.8% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,026 shares of the information technology services provider’s stock worth $1,112,000 after acquiring an additional 147 shares during the last quarter. Empowered Funds LLC bought a new position in shares of EPAM Systems in the first quarter worth about $220,000. SG Americas Securities LLC grew its holdings in EPAM Systems by 58.8% in the 1st quarter. SG Americas Securities LLC now owns 6,981 shares of the information technology services provider’s stock valued at $1,928,000 after buying an additional 2,586 shares during the last quarter. Finally, Forsta AP Fonden grew its stake in shares of EPAM Systems by 11.2% in the first quarter. Forsta AP Fonden now owns 11,900 shares of the information technology services provider’s stock worth $3,286,000 after acquiring an additional 1,200 shares during the last quarter. 91.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

EPAM has been the topic of several recent research reports. Itau BBA Securities raised 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. Scotiabank upgraded EPAM Systems from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the company from $245.00 to $275.00 in a research report on Monday. Deutsche Bank Aktiengesellschaft started coverage on shares of EPAM Systems in a research note on Thursday, August 22nd. They set a “hold” rating and a $204.00 price target on the stock. StockNews.com lowered shares of EPAM Systems from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. 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. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, EPAM Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $263.00.

EPAM Systems Stock Up 4.2 %

Shares of EPAM stock opened at $243.25 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.84 and a current ratio of 4.56. EPAM Systems, Inc. has a 52-week low of $169.43 and a 52-week high of $317.50. The firm’s 50-day moving average is $199.79 and its 200-day moving average is $197.65. The stock has a market cap of $13.85 billion, a price-to-earnings ratio of 31.59, a PEG ratio of 5.12 and a beta of 1.46.

EPAM Systems declared that its Board of Directors has approved a share buyback plan on Thursday, August 8th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board 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.