Dai ichi Life Insurance Company Ltd Buys Shares of 2,409 EPAM Systems, Inc. (NYSE:EPAM)

Dai ichi Life Insurance Company Ltd purchased a new position in shares of EPAM Systems, Inc. (NYSE:EPAM) in the third quarter, Holdings Channel.com reports. The fund purchased 2,409 shares of the information technology services provider’s stock, valued at approximately $479,000.

Several other institutional investors and hedge funds have also modified their holdings of EPAM. ORG Partners LLC grew its stake in shares of EPAM Systems by 5,000.0% during the second quarter. ORG Partners LLC now owns 153 shares of the information technology services provider’s stock worth $28,000 after buying an additional 150 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of EPAM Systems during the 2nd quarter valued at $29,000. Livforsakringsbolaget Skandia Omsesidigt grew its position in EPAM Systems by 181.8% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 155 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 100 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in EPAM Systems by 101.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 211 shares of the information technology services provider’s stock worth $42,000 after purchasing an additional 106 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new position in EPAM Systems in the third quarter valued at about $44,000. 91.58% of the stock is currently owned by institutional investors.

EPAM Systems Price Performance

Shares of NYSE EPAM opened at $245.79 on Friday. The company has a current ratio of 4.56, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01. The firm’s 50-day moving average price is $209.30 and its 200-day moving average price is $198.82. The firm has a market capitalization of $13.94 billion, a P/E ratio of 31.92, a P/E/G ratio of 3.81 and a beta of 1.46. EPAM Systems, Inc. has a 1-year low of $169.43 and a 1-year high of $317.50.

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

Insider Buying and Selling

In other EPAM Systems 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 owns 24,836 shares of the company’s stock, valued at approximately $5,886,132. This trade represents a 3.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 4.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

EPAM has been the subject of several recent research reports. Jefferies Financial Group upped their price objective on EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 9th. Susquehanna upped their price target on shares of EPAM Systems from $240.00 to $270.00 and gave the company a “positive” rating in a research report on Friday, November 8th. Citigroup lifted their price target on shares of EPAM Systems from $207.00 to $210.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. JPMorgan Chase & Co. increased their price objective on EPAM Systems from $222.00 to $262.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Finally, Mizuho lifted their target price on EPAM Systems from $245.00 to $282.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $264.20.

About EPAM Systems

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.