ING Groep NV Has $1.52 Million Holdings in EPAM Systems, Inc. (NYSE:EPAM)

ING Groep NV trimmed its position in EPAM Systems, Inc. (NYSE:EPAM) by 2.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,615 shares of the information technology services provider’s stock after selling 186 shares during the quarter. ING Groep NV’s holdings in EPAM Systems were worth $1,516,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Metis Global Partners LLC increased its holdings in EPAM Systems by 2.5% in the 3rd quarter. Metis Global Partners LLC now owns 2,029 shares of the information technology services provider’s stock valued at $404,000 after buying an additional 50 shares during the period. Zions Bancorporation N.A. increased its stake in EPAM Systems by 6,611.8% in the third quarter. Zions Bancorporation N.A. now owns 1,141 shares of the information technology services provider’s stock valued at $227,000 after acquiring an additional 1,124 shares during the period. KBC Group NV raised its position in EPAM Systems by 3.0% in the third quarter. KBC Group NV now owns 23,311 shares of the information technology services provider’s stock worth $4,639,000 after purchasing an additional 683 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in EPAM Systems during the third quarter worth about $8,195,000. Finally, Geneva Capital Management LLC boosted 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 in the last quarter. 91.58% of the stock is owned by institutional investors.

EPAM Systems Trading Down 3.9 %

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

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

Analyst Ratings Changes

Several analysts recently commented on the company. Mizuho boosted their price target on EPAM Systems from $245.00 to $282.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. StockNews.com upgraded shares of EPAM Systems from a “hold” rating to a “buy” rating in a research report on Friday. 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 objective on the stock. JPMorgan Chase & Co. lifted their target price on shares of EPAM Systems from $222.00 to $262.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Finally, Piper Sandler raised their price target on EPAM Systems from $225.00 to $258.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, EPAM Systems currently has an average rating of “Moderate Buy” and a consensus price target of $264.20.

Insider Activity

In other news, CFO Jason D. Peterson sold 1,000 shares of the company’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 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 represents a 3.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.30% of the stock is currently owned by company 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.