Charles Schwab Investment Management Inc. Buys 160,989 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Charles Schwab Investment Management Inc. raised its stake in shares of EPAM Systems, Inc. (NYSE:EPAM) by 45.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 515,351 shares of the information technology services provider’s stock after purchasing an additional 160,989 shares during the period. Charles Schwab Investment Management Inc. owned 0.91% of EPAM Systems worth $102,570,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Geneva Capital Management LLC grew 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 valued at $14,187,000 after purchasing an additional 4,027 shares during the period. Oppenheimer Asset Management Inc. purchased a new position in shares of EPAM Systems in the third quarter valued at about $8,195,000. Victory Capital Management Inc. lifted its position 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 acquiring an additional 51,603 shares in the last quarter. Raymond James & Associates lifted its position 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 acquiring an additional 34,701 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position 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 acquiring an additional 13,690 shares in the last quarter. Institutional investors own 91.58% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on EPAM shares. Jefferies Financial Group boosted their price objective on EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Citigroup boosted their price objective on EPAM Systems from $207.00 to $210.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Susquehanna boosted their price objective on EPAM Systems from $240.00 to $270.00 and gave the company a “positive” rating in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft started coverage on EPAM Systems in a research report on Thursday, August 22nd. They issued a “hold” rating and a $204.00 price objective on the stock. Finally, Mizuho boosted their target price on EPAM Systems from $245.00 to $282.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, EPAM Systems has an average rating of “Moderate Buy” and a consensus price target of $264.20.

Insiders Place Their Bets

In other 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 transaction of $237,000.00. Following the transaction, the chief financial officer now owns 24,836 shares of the company’s stock, valued at approximately $5,886,132. This represents a 3.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 4.30% of the stock is currently owned by insiders.

EPAM Systems Trading Down 0.2 %

Shares of NYSE EPAM opened at $248.65 on Wednesday. The business’s 50 day moving average is $207.37 and its two-hundred day moving average is $198.03. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.56 and a quick ratio of 4.56. EPAM Systems, Inc. has a 1-year low of $169.43 and a 1-year high of $317.50. The stock has a market capitalization of $14.10 billion, a P/E ratio of 32.01, a PEG ratio of 3.75 and a beta of 1.46.

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