KBC Group NV Grows Stake in EPAM Systems, Inc. (NYSE:EPAM)

KBC Group NV grew its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM) by 3.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 23,311 shares of the information technology services provider’s stock after buying an additional 683 shares during the period. KBC Group NV’s holdings in EPAM Systems were worth $4,639,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EPAM. Pacer Advisors Inc. increased its position in EPAM Systems by 14,325.2% during the 2nd quarter. Pacer Advisors Inc. now owns 657,070 shares of the information technology services provider’s stock valued at $123,601,000 after purchasing an additional 652,515 shares during the period. Manning & Napier Advisors LLC purchased a new position in shares of EPAM Systems during the second quarter valued at about $84,850,000. TD Asset Management Inc raised its stake in EPAM Systems by 80.0% in the second quarter. TD Asset Management Inc now owns 595,486 shares of the information technology services provider’s stock worth $112,017,000 after buying an additional 264,570 shares in the last quarter. Acadian Asset Management LLC boosted its position in EPAM Systems by 47,294.2% during the 2nd quarter. Acadian Asset Management LLC now owns 189,103 shares of the information technology services provider’s stock valued at $35,560,000 after acquiring an additional 188,704 shares in the last quarter. Finally, Epoch Investment Partners Inc. boosted its position in EPAM Systems by 97.7% during the 2nd quarter. Epoch Investment Partners Inc. now owns 338,667 shares of the information technology services provider’s stock valued at $63,707,000 after acquiring an additional 167,343 shares in the last quarter. Institutional investors own 91.58% of the company’s stock.

EPAM Systems Stock Performance

Shares of NYSE EPAM opened at $235.29 on Monday. The firm’s 50-day moving average price is $203.19 and its 200-day moving average price is $197.84. EPAM Systems, Inc. has a 52-week low of $169.43 and a 52-week high of $317.50. The company has a market cap of $13.35 billion, a PE ratio of 30.56, a PEG ratio of 3.60 and a beta of 1.46. The company has a quick ratio of 4.56, a current ratio of 4.56 and a debt-to-equity ratio of 0.01.

EPAM Systems declared that its Board of Directors has authorized a stock buyback program on Thursday, August 8th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to buy up to 4.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Barclays lifted their price target on EPAM Systems from $200.00 to $225.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Piper Sandler boosted their target price on shares of EPAM Systems from $225.00 to $258.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Citigroup increased their price target on shares of EPAM Systems from $207.00 to $210.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Scotiabank raised shares of EPAM Systems from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $245.00 to $275.00 in a research note on Monday, November 11th. Finally, Mizuho raised their target price on shares of EPAM Systems from $245.00 to $282.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $264.20.

Insiders Place Their Bets

In other EPAM Systems news, CFO Jason D. Peterson sold 1,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was 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 of the company’s stock, valued at approximately $5,886,132. This trade represents a 3.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.30% of the stock is currently owned by insiders.

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.