EPAM Systems, Inc. (NYSE:EPAM) Short Interest Down 7.4% in November

EPAM Systems, Inc. (NYSE:EPAM) saw a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 642,800 shares, a drop of 7.4% from the November 15th total of 694,400 shares. Based on an average daily trading volume, of 671,100 shares, the short-interest ratio is presently 1.0 days. Approximately 1.2% of the company’s stock are sold short.

EPAM Systems Stock Performance

Shares of EPAM Systems stock traded up $4.63 during trading hours on Tuesday, hitting $248.00. 489,325 shares of the company were exchanged, compared to its average volume of 635,128. The business has a 50-day moving average of $221.74 and a 200-day moving average of $204.41. EPAM Systems has a 1 year low of $169.43 and a 1 year high of $317.50. The company has a current ratio of 4.56, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $14.07 billion, a price-to-earnings ratio of 32.20, a P/E/G ratio of 3.87 and a beta of 1.49.

Insider Buying and Selling at EPAM Systems

In other EPAM Systems news, CFO Jason D. Peterson sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $237.00, for a total transaction of $237,000.00. Following the completion of the transaction, the chief financial officer now owns 24,836 shares in the company, valued at $5,886,132. The trade was a 3.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Viktar Dvorkin sold 6,758 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $256.53, for a total transaction of $1,733,629.74. Following the completion of the sale, the senior vice president now owns 13,000 shares in the company, valued at $3,334,890. The trade was a 34.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,222 shares of company stock valued at $2,089,878 in the last 90 days. Company insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On EPAM Systems

A number of large investors have recently bought and sold shares of the company. Geneva Capital Management LLC increased its stake in shares of EPAM Systems by 6.0% during the third quarter. Geneva Capital Management LLC now owns 71,281 shares of the information technology services provider’s stock worth $14,187,000 after acquiring an additional 4,027 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in EPAM Systems in the 3rd quarter valued at approximately $8,195,000. Victory Capital Management Inc. increased its position in EPAM Systems by 247.6% during the 3rd quarter. Victory Capital Management Inc. now owns 72,447 shares of the information technology services provider’s stock worth $14,419,000 after purchasing an additional 51,603 shares during the period. Raymond James & Associates raised its stake in shares of EPAM Systems by 1,741.1% during the 3rd quarter. Raymond James & Associates now owns 36,694 shares of the information technology services provider’s stock worth $7,303,000 after buying an additional 34,701 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of EPAM Systems by 251.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 19,128 shares of the information technology services provider’s stock valued at $3,807,000 after buying an additional 13,690 shares during the period. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Analyst Upgrades and Downgrades

EPAM has been the topic of a number of recent analyst reports. Scotiabank upgraded EPAM Systems from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $245.00 to $275.00 in a report on Monday, November 11th. The Goldman Sachs Group raised EPAM Systems from a “neutral” rating to a “buy” rating and upped their price target for the company from $235.00 to $295.00 in a report on Friday, December 6th. JPMorgan Chase & Co. raised their price objective on shares of EPAM Systems from $222.00 to $262.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Susquehanna boosted their price objective on shares of EPAM Systems from $240.00 to $270.00 and gave the stock a “positive” rating in a research report on Friday, November 8th. Finally, Itau BBA Securities raised shares of EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 target price on the stock in a research report on Friday, November 8th. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $272.20.

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.