EPAM Systems, Inc. (NYSE:EPAM) Short Interest Up 21.6% in June

EPAM Systems, Inc. (NYSE:EPAM) was the target of a significant growth in short interest during the month of June. As of June 30th, there was short interest totalling 1,410,000 shares, a growth of 21.6% from the June 15th total of 1,160,000 shares. Approximately 2.5% of the company’s shares are short sold. Based on an average trading volume of 770,800 shares, the days-to-cover ratio is presently 1.8 days.

Institutional Investors Weigh In On EPAM Systems

Several large investors have recently modified their holdings of the stock. ORG Partners LLC boosted its holdings in EPAM Systems by 5,000.0% in the 2nd 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 period. V Square Quantitative Management LLC boosted its holdings in EPAM Systems by 40.2% in the 2nd quarter. V Square Quantitative Management LLC now owns 1,497 shares of the information technology services provider’s stock worth $282,000 after buying an additional 429 shares during the period. Diversified Trust Co bought a new position in EPAM Systems in the 2nd quarter worth approximately $734,000. D.B. Root & Company LLC bought a new position in EPAM Systems in the 2nd quarter worth approximately $322,000. Finally, Czech National Bank boosted its holdings in EPAM Systems by 8.8% in the 2nd quarter. Czech National Bank now owns 11,047 shares of the information technology services provider’s stock worth $2,078,000 after buying an additional 895 shares during the period. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Wall Street Analysts Forecast Growth

EPAM has been the topic of a number of research analyst reports. Wedbush reissued an “outperform” rating and set a $340.00 price objective on shares of EPAM Systems in a research report on Wednesday, April 10th. JPMorgan Chase & Co. cut their price objective on shares of EPAM Systems from $331.00 to $311.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Piper Sandler dropped their price target on shares of EPAM Systems from $252.00 to $230.00 and set an “overweight” rating on the stock in a research report on Thursday, June 13th. The Goldman Sachs Group started coverage on shares of EPAM Systems in a research report on Monday, June 24th. They issued a “neutral” rating and a $200.00 price target on the stock. Finally, Guggenheim started coverage on shares of EPAM Systems in a research report on Tuesday, March 19th. They issued a “buy” rating and a $350.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $268.89.

EPAM Systems Stock Performance

Shares of EPAM stock traded up $9.42 during trading hours on Tuesday, hitting $209.14. 803,169 shares of the company were exchanged, compared to its average volume of 642,149. The firm has a fifty day simple moving average of $184.50 and a 200 day simple moving average of $247.83. The company has a current ratio of 4.68, a quick ratio of 4.68 and a debt-to-equity ratio of 0.01. EPAM Systems has a 52-week low of $169.43 and a 52-week high of $317.50. The stock has a market capitalization of $12.12 billion, a price-to-earnings ratio of 28.61, a P/E/G ratio of 4.48 and a beta of 1.45.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings results on Thursday, May 9th. The information technology services provider reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.09. EPAM Systems had a net margin of 9.28% and a return on equity of 14.95%. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.16 billion. Research analysts predict that EPAM Systems will post 7.8 earnings per share for the current fiscal year.

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.