EPAM Systems, Inc. $EPAM Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund decreased its stake in shares of EPAM Systems, Inc. (NYSE:EPAM) by 9.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 32,287 shares of the information technology services provider’s stock after selling 3,338 shares during the period. Illinois Municipal Retirement Fund’s holdings in EPAM Systems were worth $4,869,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of EPAM. Vanguard Group Inc. grew its stake in shares of EPAM Systems by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 6,985,172 shares of the information technology services provider’s stock valued at $1,235,118,000 after buying an additional 20,921 shares during the period. Invesco Ltd. boosted its holdings in EPAM Systems by 14.9% in the second quarter. Invesco Ltd. now owns 4,102,790 shares of the information technology services provider’s stock valued at $725,455,000 after acquiring an additional 533,292 shares during the last quarter. Geode Capital Management LLC grew its position in EPAM Systems by 1.1% during the second 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 acquiring an additional 15,936 shares during the period. Baillie Gifford & Co. increased its stake in EPAM Systems by 20.7% during the third quarter. Baillie Gifford & Co. now owns 1,293,857 shares of the information technology services provider’s stock worth $195,101,000 after acquiring an additional 221,544 shares during the last quarter. Finally, William Blair Investment Management LLC raised its holdings in shares of EPAM Systems by 20.9% in the 2nd quarter. William Blair Investment Management LLC now owns 841,922 shares of the information technology services provider’s stock worth $148,869,000 after purchasing an additional 145,411 shares during the period. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on EPAM shares. Mizuho boosted their target price on EPAM Systems from $225.00 to $228.00 and gave the stock an “outperform” rating in a report on Tuesday, November 11th. Zacks Research downgraded shares of EPAM Systems from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 28th. Wells Fargo & Company raised their target price on shares of EPAM Systems from $185.00 to $247.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of EPAM Systems in a research report on Monday, December 29th. Finally, Truist Financial began coverage on EPAM Systems in a research report on Tuesday, January 6th. They issued a “hold” rating and a $220.00 price objective on the stock. Ten 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 stock presently has an average rating of “Moderate Buy” and an average target price of $214.20.

EPAM Systems Price Performance

Shares of EPAM stock opened at $166.17 on Friday. The firm has a fifty day simple moving average of $205.67 and a 200-day simple moving average of $178.81. The company has a market capitalization of $9.18 billion, a PE ratio of 25.37, a price-to-earnings-growth ratio of 1.99 and a beta of 1.72. EPAM Systems, Inc. has a twelve month low of $138.15 and a twelve month high of $269.00. 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 declared that its board has approved a stock buyback plan on Tuesday, October 21st that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the information technology services provider to repurchase up to 12.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Transactions at EPAM Systems

In related news, SVP Boris Shnayder sold 5,000 shares of the business’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $207.00, for a total value of $1,035,000.00. Following the transaction, the senior vice president owned 15,645 shares in the company, valued at approximately $3,238,515. The trade was a 24.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Gary C. Abrahams sold 600 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $179.29, for a total value of $107,574.00. Following the completion of the transaction, the vice president directly owned 2,720 shares of the company’s stock, valued at $487,668.80. This represents a 18.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 4.30% of the company’s stock.

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.