EPAM Systems Inc (NYSE:EPAM) Sees Significant Decrease in Short Interest

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EPAM Systems Inc (NYSE:EPAM) was the target of a significant drop in short interest in June. As of June 30th, there was short interest totalling 1,004,000 shares, a drop of 10.8% from the May 30th total of 1,125,700 shares. Based on an average daily volume of 488,200 shares, the short-interest ratio is presently 2.1 days. Currently, 1.9% of the shares of the stock are sold short.

A number of analysts have commented on EPAM shares. Zacks Investment Research lowered shares of ExlService from a “hold” rating to a “sell” rating in a report on Wednesday. Wedbush reaffirmed an “outperform” rating on shares of Purple Innovation in a report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. EPAM Systems presently has a consensus rating of “Buy” and a consensus target price of $161.56.

In other EPAM Systems news, CEO Arkadiy Dobkin sold 15,000 shares of EPAM Systems stock in a transaction on Monday, May 20th. The shares were sold at an average price of $166.13, for a total transaction of $2,491,950.00. Following the completion of the sale, the chief executive officer now owns 1,713,490 shares of the company’s stock, valued at approximately $284,662,093.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jason Harman sold 13,578 shares of EPAM Systems stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $173.00, for a total transaction of $2,348,994.00. Following the sale, the senior vice president now directly owns 12,425 shares of the company’s stock, valued at approximately $2,149,525. The disclosure for this sale can be found here. In the last three months, insiders sold 362,189 shares of company stock valued at $63,001,372. 5.30% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the company. Penserra Capital Management LLC acquired a new position in shares of EPAM Systems in the 1st quarter valued at $37,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of EPAM Systems in the 1st quarter valued at $85,000. Meeder Asset Management Inc. grew its holdings in shares of EPAM Systems by 1,227.5% in the 1st quarter. Meeder Asset Management Inc. now owns 677 shares of the information technology services provider’s stock valued at $115,000 after buying an additional 626 shares during the period. Quantamental Technologies LLC acquired a new position in shares of EPAM Systems in the 1st quarter valued at $169,000. Finally, Oakbrook Investments LLC acquired a new position in shares of EPAM Systems in the 1st quarter valued at $228,000. 90.80% of the stock is owned by institutional investors.

Shares of EPAM stock traded up $2.58 on Friday, hitting $193.63. The stock had a trading volume of 412,577 shares, compared to its average volume of 424,760. EPAM Systems has a twelve month low of $104.77 and a twelve month high of $193.80. The firm has a market cap of $10.58 billion, a price-to-earnings ratio of 49.52, a P/E/G ratio of 2.30 and a beta of 1.41. The company has a debt-to-equity ratio of 0.11, a quick ratio of 4.41 and a current ratio of 4.41. The company has a fifty day simple moving average of $174.79.

EPAM Systems (NYSE:EPAM) last announced its quarterly earnings results on Thursday, May 9th. The information technology services provider reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.33. EPAM Systems had a net margin of 12.19% and a return on equity of 19.56%. The company had revenue of $521.30 million during the quarter, compared to analyst estimates of $519.11 million. During the same quarter in the previous year, the business earned $0.93 EPS. The firm’s revenue was up 22.9% on a year-over-year basis. Research analysts expect that EPAM Systems will post 4.24 earnings per share for the current year.

EPAM Systems Company Profile

EPAM Systems, Inc provides software product development and digital platform engineering services primarily in North America, Europe, Armenia, Belarus, Kazakhstan, Russia, Ukraine, Asia, and Australia. 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, and maintenance with private, public, and mobile infrastructures for application, database, network, server, storage, and systems operations management, as well as monitoring, incident notification, and resolution services; and maintenance and support services.

Further Reading: Short Selling Stocks, A Beginner’s Guide

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