Tobam Sells 3,898 Shares of EPAM Systems, Inc. $EPAM

Tobam cut its holdings in EPAM Systems, Inc. (NYSE:EPAM) by 66.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,976 shares of the information technology services provider’s stock after selling 3,898 shares during the quarter. Tobam’s holdings in EPAM Systems were worth $349,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Invesco Ltd. boosted its stake in shares of EPAM Systems by 37.1% during the 1st quarter. Invesco Ltd. now owns 3,569,498 shares of the information technology services provider’s stock worth $602,674,000 after acquiring an additional 965,089 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of EPAM Systems by 98.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,628,304 shares of the information technology services provider’s stock worth $274,923,000 after purchasing an additional 809,423 shares during the last quarter. Alyeska Investment Group L.P. grew its holdings in EPAM Systems by 2,332.9% in the 1st quarter. Alyeska Investment Group L.P. now owns 729,877 shares of the information technology services provider’s stock valued at $123,232,000 after buying an additional 699,877 shares during the last quarter. ARGA Investment Management LP acquired a new position in shares of EPAM Systems during the second quarter worth approximately $84,456,000. Finally, Fiera Capital Corp bought a new position in EPAM Systems during the first quarter worth $31,332,000. Institutional investors and hedge funds own 91.58% of the company’s stock.

EPAM Systems Trading Down 1.2%

Shares of EPAM Systems stock opened at $180.15 on Wednesday. EPAM Systems, Inc. has a 12-month low of $138.15 and a 12-month high of $269.00. The stock has a market capitalization of $10.03 billion, a P/E ratio of 25.70, a price-to-earnings-growth ratio of 2.36 and a beta of 1.67. The company has a 50-day simple moving average of $157.07 and a 200 day simple moving average of $165.71. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 0.01.

EPAM Systems declared that its board has approved a share repurchase program on Tuesday, October 21st that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the information technology services provider to buy up to 12.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Morgan Stanley dropped their price objective on shares of EPAM Systems from $210.00 to $175.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 9th. Deutsche Bank Aktiengesellschaft initiated coverage on EPAM Systems in a research report on Thursday, July 17th. They issued a “hold” rating and a $171.00 target price for the company. Wells Fargo & Company raised shares of EPAM Systems to a “strong-buy” rating in a report on Wednesday, October 22nd. Citigroup raised shares of EPAM Systems to a “hold” rating in a report on Thursday, October 23rd. Finally, Wall Street Zen cut shares of EPAM Systems from a “buy” rating to a “hold” rating in a research note on Saturday, September 13th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $213.81.

Insider Activity

In related news, SVP Sergey Yezhkov sold 1,511 shares of the stock in a transaction that occurred on Tuesday, October 21st. The stock was sold at an average price of $150.27, for a total transaction of $227,057.97. Following the sale, the senior vice president directly owned 146 shares in the company, valued at $21,939.42. This represents a 91.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.30% of the company’s stock.

EPAM Systems 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.