EPAM Systems, Inc. $EPAM Shares Bought by Allianz Asset Management GmbH

Allianz Asset Management GmbH increased its stake in EPAM Systems, Inc. (NYSE:EPAM) by 39.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,851 shares of the information technology services provider’s stock after acquiring an additional 12,396 shares during the period. Allianz Asset Management GmbH owned approximately 0.08% of EPAM Systems worth $6,612,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in EPAM. CYBER HORNET ETFs LLC acquired a new position in shares of EPAM Systems during the 2nd quarter valued at $27,000. MUFG Securities EMEA plc bought a new position in EPAM Systems during the second quarter valued at about $30,000. Manning & Napier Advisors LLC bought a new position in EPAM Systems during the third quarter valued at about $25,000. True Wealth Design LLC grew its holdings in EPAM Systems by 1,870.0% during the third quarter. True Wealth Design LLC now owns 197 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 187 shares during the period. Finally, CVA Family Office LLC raised its position in EPAM Systems by 4,840.0% in the third quarter. CVA Family Office LLC now owns 247 shares of the information technology services provider’s stock worth $37,000 after acquiring an additional 242 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on EPAM shares. Citigroup raised their price objective on shares of EPAM Systems from $170.00 to $225.00 and gave the company a “neutral” rating in a research report on Thursday, January 29th. Truist Financial assumed coverage on shares of EPAM Systems in a research report on Tuesday, January 6th. They issued a “hold” rating and a $220.00 price target on the stock. Wells Fargo & Company increased their price objective on EPAM Systems from $185.00 to $247.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. Zacks Research lowered EPAM Systems from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 28th. Finally, TD Cowen reaffirmed a “buy” rating on shares of EPAM Systems in a research report on Friday, January 9th. Ten research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $214.20.

Insiders Place Their Bets

In related news, VP Gary C. Abrahams sold 600 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $179.29, for a total transaction of $107,574.00. Following the completion of the sale, the vice president directly owned 2,720 shares in the company, valued at approximately $487,668.80. This trade represents a 18.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Boris Shnayder sold 5,000 shares of EPAM Systems stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $207.00, for a total value of $1,035,000.00. Following the sale, the senior vice president directly owned 15,645 shares of the company’s stock, valued at approximately $3,238,515. The trade was a 24.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 8,100 shares of company stock worth $1,597,074 in the last quarter. 4.30% of the stock is currently owned by corporate insiders.

EPAM Systems Stock Up 2.1%

NYSE:EPAM opened at $190.57 on Tuesday. The business’s fifty day moving average price is $207.65 and its 200 day moving average price is $178.74. The firm has a market capitalization of $10.53 billion, a price-to-earnings ratio of 29.09, a PEG ratio of 2.24 and a beta of 1.72. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 0.01. EPAM Systems, Inc. has a 1-year low of $138.15 and a 1-year high of $269.00.

EPAM Systems announced that its Board of Directors has approved a stock buyback plan on Tuesday, October 21st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the information technology services provider to buy up to 12.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

EPAM Systems Company Profile

EPAM Systems, Inc is a global provider of digital platform engineering and software development services. The company partners with clients across industries—such as financial services, healthcare, retail, and technology—to design, develop, and maintain complex software applications and digital experiences. EPAM’s offerings include custom software development, application management, infrastructure management, quality assurance, and testing services, enabling organizations to accelerate digital transformation and enhance operational efficiency.

In addition to its core engineering capabilities, EPAM delivers a range of specialized services, including product design and consulting, data and analytics, cloud computing, DevOps, and cybersecurity.