Cerity Partners LLC Acquires 9,932 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Cerity Partners LLC grew its holdings in EPAM Systems, Inc. (NYSE:EPAM) by 27.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 45,574 shares of the information technology services provider’s stock after acquiring an additional 9,932 shares during the period. Cerity Partners LLC owned 0.08% of EPAM Systems worth $9,071,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Acadian Asset Management LLC raised its holdings in EPAM Systems by 238.1% in the 1st quarter. Acadian Asset Management LLC now owns 399 shares of the information technology services provider’s stock worth $109,000 after purchasing an additional 281 shares during the period. California State Teachers Retirement System raised its stake in shares of EPAM Systems by 1.4% in the first quarter. California State Teachers Retirement System now owns 91,536 shares of the information technology services provider’s stock worth $25,279,000 after buying an additional 1,260 shares during the period. Motley Fool Asset Management LLC lifted its position in shares of EPAM Systems by 5.2% during the 1st quarter. Motley Fool Asset Management LLC now owns 1,124 shares of the information technology services provider’s stock valued at $310,000 after buying an additional 56 shares in the last quarter. Tidal Investments LLC grew its stake in shares of EPAM Systems by 17.2% during the 1st quarter. Tidal Investments LLC now owns 3,167 shares of the information technology services provider’s stock valued at $875,000 after acquiring an additional 464 shares during the period. Finally, Comerica Bank increased its holdings in EPAM Systems by 3.1% in the 1st quarter. Comerica Bank now owns 9,593 shares of the information technology services provider’s stock worth $2,649,000 after acquiring an additional 286 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors.

EPAM Systems Price Performance

EPAM Systems stock opened at $248.65 on Wednesday. EPAM Systems, Inc. has a 52-week low of $169.43 and a 52-week high of $317.50. The company has a quick ratio of 4.56, a current ratio of 4.56 and a debt-to-equity ratio of 0.01. The firm’s fifty day moving average is $207.37 and its 200 day moving average is $198.03. The company has a market cap of $14.10 billion, a price-to-earnings ratio of 32.29, a PEG ratio of 3.75 and a beta of 1.46.

EPAM Systems declared that its board has approved a stock repurchase program on Thursday, August 8th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the information technology services provider to repurchase up to 4.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on EPAM shares. Mizuho lifted their price target on shares of EPAM Systems from $245.00 to $282.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Needham & Company LLC lifted their target price on shares of EPAM Systems from $215.00 to $265.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Piper Sandler increased their price target on EPAM Systems from $225.00 to $258.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Scotiabank upgraded EPAM Systems from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $245.00 to $275.00 in a research report on Monday, November 11th. Finally, StockNews.com raised EPAM Systems from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, EPAM Systems currently has a consensus rating of “Moderate Buy” and an average target price of $264.20.

Insider Transactions at EPAM Systems

In other news, CFO Jason D. Peterson sold 1,000 shares of the firm’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 value of $237,000.00. Following the completion of the sale, the chief financial officer now directly owns 24,836 shares of the company’s stock, valued at $5,886,132. This trade represents a 3.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 4.30% of the company’s stock.

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.