Short Interest in EPAM Systems, Inc. (NYSE:EPAM) Increases By 24.0%

EPAM Systems, Inc. (NYSE:EPAM) was the target of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 1,000,000 shares, an increase of 24.0% from the February 13th total of 806,300 shares. Currently, 1.8% of the shares of the stock are sold short. Based on an average daily volume of 699,300 shares, the days-to-cover ratio is currently 1.4 days.

EPAM Systems Stock Performance

Shares of NYSE EPAM traded down $3.36 during midday trading on Tuesday, hitting $182.86. 464,845 shares of the company’s stock traded hands, compared to its average volume of 647,687. EPAM Systems has a 1 year low of $169.43 and a 1 year high of $296.20. The stock has a market capitalization of $10.40 billion, a price-to-earnings ratio of 23.32, a price-to-earnings-growth ratio of 3.38 and a beta of 1.61. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 2.96. The firm has a fifty day moving average of $229.28 and a 200 day moving average of $222.26.

EPAM Systems (NYSE:EPAM) last released its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $2.23 EPS for the quarter, missing the consensus estimate of $2.75 by ($0.52). EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. The business had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.21 billion. On average, analysts forecast that EPAM Systems will post 8.9 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on EPAM. Jefferies Financial Group dropped their target price on shares of EPAM Systems from $305.00 to $288.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. StockNews.com cut shares of EPAM Systems from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Barclays dropped their target price on shares of EPAM Systems from $290.00 to $270.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Morgan Stanley boosted their target price on shares of EPAM Systems from $230.00 to $256.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Finally, The Goldman Sachs Group upgraded shares of EPAM Systems from a “neutral” rating to a “buy” rating and upped their price target for the stock from $235.00 to $295.00 in a research note on Friday, December 6th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $267.33.

Insider Buying and Selling at EPAM Systems

In other news, CFO Jason D. Peterson sold 1,078 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $257.00, for a total value of $277,046.00. Following the completion of the sale, the chief financial officer now directly owns 23,382 shares in the company, valued at approximately $6,009,174. The trade was a 4.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EPAM Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EPAM. EverSource Wealth Advisors LLC grew its holdings in EPAM Systems by 90.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 54 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in EPAM Systems by 2,500.0% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 130 shares of the information technology services provider’s stock valued at $30,000 after buying an additional 125 shares in the last quarter. TD Private Client Wealth LLC grew its holdings in EPAM Systems by 88.5% during the 4th quarter. TD Private Client Wealth LLC now owns 147 shares of the information technology services provider’s stock valued at $34,000 after buying an additional 69 shares in the last quarter. Versant Capital Management Inc purchased a new stake in EPAM Systems during the 4th quarter valued at approximately $35,000. Finally, Manchester Capital Management LLC grew its holdings in EPAM Systems by 590.0% during the 4th quarter. Manchester Capital Management LLC now owns 207 shares of the information technology services provider’s stock valued at $48,000 after buying an additional 177 shares in the last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

EPAM Systems Company Profile

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.