NEWTOWN, PA—Viktar Dvorkin, Senior Vice President and Head of Global Delivery at EPAM Systems, Inc. (NYSE:EPAM), has sold a significant portion of his holdings in the company. According to a recent SEC filing, Dvorkin sold a total of 6,758 shares of EPAM common stock on December 11, 2024. The shares were sold at prices ranging from $256.53 to $256.69, generating proceeds of approximately $1.73 million. The transaction comes as EPAM, a $13.95 billion market cap company, maintains a strong financial health rating according to InvestingPro analysis.
In addition to these sales, Dvorkin exercised stock options to acquire 12,000 shares at a price of $61.38 per share, amounting to a total acquisition cost of $736,560. Following these transactions, Dvorkin holds 13,000 shares directly, with an additional 20,932 shares held indirectly through the Dvorkin Family Trust. The stock has shown impressive momentum with a 40% gain over the past six months, and InvestingPro analysis indicates the stock is currently undervalued.
These transactions highlight Dvorkin's ongoing management of his equity holdings in the global technology and digital platform engineering services company, which is headquartered in Newtown, Pennsylvania. Get access to 8 more exclusive InvestingPro Tips and comprehensive analysis for EPAM through the InvestingPro research report, part of our coverage of 1,400+ US stocks.
In other recent news, EPAM Systems has been the focus of multiple analyst upgrades and strategic developments. The company received an upgraded stock rating from Goldman Sachs (NYSE:GS), moving from Neutral to Buy, with an increased price target for EPAM shares to $295.00. This upgrade is based on the anticipation of improved growth prospects for the company in 2025. EPAM Systems also received an upgrade from Mizuho (NYSE:MFG), which raised its price target for the company from $245 to $282, maintaining an Outperform rating. This follows EPAM's third-quarter earnings report, which revealed an improved financial outlook.
Scotiabank (TSX:BNS) also upgraded EPAM's stock to Sector Outperform, following a third-quarter report that exceeded expectations. EPAM reported revenues of $1.17 billion, a 1.3% year-over-year increase, which was influenced by the acquisition of NEORIS. This acquisition doubled the company's delivery workforce in Latin America and Europe, contributing to an improvement in demand, particularly in North America and the EMEA region.
In partnership with the International Monetary Fund (IMF), EPAM Systems has introduced StatGPT 2.0, a platform aimed at enhancing global economic and financial data accessibility. The platform, built upon EPAM's DIAL technology, promises a more efficient user experience in data management and exchange. Lastly, EPAM anticipates continued growth in Q4, with expected revenue between $1.205 billion and $1.215 billion.
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