Allianz Asset Management GmbH Acquires 12,396 Shares of EPAM Systems, Inc. $EPAM

Allianz Asset Management GmbH grew its holdings in EPAM Systems, Inc. (NYSE:EPAM) by 39.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 43,851 shares of the information technology services provider’s stock after purchasing an additional 12,396 shares during the quarter. Allianz Asset Management GmbH’s holdings in EPAM Systems were worth $6,612,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Fourth Sail Capital LP increased its position in EPAM Systems by 35.3% in the 2nd quarter. Fourth Sail Capital LP now owns 71,700 shares of the information technology services provider’s stock worth $12,678,000 after buying an additional 18,700 shares during the period. New York State Common Retirement Fund grew its stake in shares of EPAM Systems by 61.0% in the second quarter. New York State Common Retirement Fund now owns 118,996 shares of the information technology services provider’s stock worth $21,041,000 after acquiring an additional 45,106 shares during the last quarter. Atlantic Union Bankshares Corp bought a new position in EPAM Systems during the third quarter worth $1,384,000. Leeward Investments LLC MA raised its stake in EPAM Systems by 16.9% during the 2nd quarter. Leeward Investments LLC MA now owns 53,725 shares of the information technology services provider’s stock valued at $9,500,000 after purchasing an additional 7,757 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in EPAM Systems by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 1,418,287 shares of the information technology services provider’s stock valued at $250,752,000 after purchasing an additional 15,936 shares during the period. Institutional investors and hedge funds own 91.58% of the company’s stock.

EPAM Systems Stock Up 2.1%

Shares of EPAM opened at $190.57 on Tuesday. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average price of $207.65 and a two-hundred day moving average price of $178.74. The stock has a market cap of $10.53 billion, a price-to-earnings ratio of 29.09, a P/E/G ratio of 2.24 and a beta of 1.72. EPAM Systems, Inc. has a 12 month low of $138.15 and a 12 month high of $269.00.

EPAM Systems announced that its Board of Directors has authorized a stock buyback program on Tuesday, October 21st that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the information technology services provider to purchase up to 12.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Citigroup boosted their price objective on shares of EPAM Systems from $170.00 to $225.00 and gave the stock a “neutral” rating in a report on Thursday, January 29th. TD Cowen restated a “buy” rating on shares of EPAM Systems in a research note on Friday, January 9th. Mizuho upped their price target on EPAM Systems from $225.00 to $228.00 and gave the company an “outperform” rating in a report on Tuesday, November 11th. Zacks Research lowered EPAM Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 28th. Finally, JPMorgan Chase & Co. boosted their price objective on EPAM Systems from $201.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Ten investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $214.20.

Insider Activity at EPAM Systems

In other EPAM Systems news, SVP Viktar Dvorkin sold 2,500 shares of the company’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $181.80, for a total value of $454,500.00. Following the sale, the senior vice president directly owned 38,124 shares in the company, valued at $6,930,943.20. This represents a 6.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 value of $107,574.00. Following the transaction, the vice president owned 2,720 shares of the company’s stock, valued at $487,668.80. This represents a 18.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 8,100 shares of company stock valued at $1,597,074 in the last 90 days. 4.30% of the stock is owned by corporate insiders.

About EPAM Systems

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.