EPAM Systems, Inc. (NYSE:EPAM) Short Interest Update

EPAM Systems, Inc. (NYSE:EPAM) was the target of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 1,240,000 shares, a growth of 24.0% from the February 28th total of 1,000,000 shares. Approximately 2.3% of the shares of the stock are sold short. Based on an average trading volume of 673,600 shares, the days-to-cover ratio is presently 1.8 days.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on EPAM shares. Barclays reduced their target price on EPAM Systems from $290.00 to $270.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $265.00 price objective on shares of EPAM Systems in a research report on Thursday, February 20th. Scotiabank dropped their price target on EPAM Systems from $275.00 to $250.00 and set a “sector outperform” rating on the stock in a research report on Monday, February 24th. StockNews.com cut shares of EPAM Systems from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Finally, Jefferies Financial Group decreased their price target on shares of EPAM Systems from $305.00 to $288.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $262.47.

Insider Activity at EPAM Systems

In other EPAM Systems news, CFO Jason D. Peterson sold 1,078 shares of EPAM Systems stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $257.00, for a total transaction of $277,046.00. Following the transaction, the chief financial officer now directly owns 23,382 shares of the company’s stock, valued at approximately $6,009,174. This trade represents a 4.41 % decrease in their ownership of the stock. The transaction 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 insiders.

Hedge Funds Weigh In On EPAM Systems

Several hedge funds have recently modified their holdings of the stock. Centre Asset Management LLC bought a new position in EPAM Systems during the fourth quarter valued at approximately $8,757,000. Oliver Luxxe Assets LLC bought a new position in shares of EPAM Systems during the 4th quarter valued at approximately $1,889,000. iA Global Asset Management Inc. increased its position in EPAM Systems by 165.2% in the third quarter. iA Global Asset Management Inc. now owns 3,700 shares of the information technology services provider’s stock worth $736,000 after purchasing an additional 2,305 shares during the last quarter. Merit Financial Group LLC purchased a new stake in EPAM Systems during the fourth quarter valued at $245,000. Finally, The Manufacturers Life Insurance Company lifted its position in EPAM Systems by 21.1% during the third quarter. The Manufacturers Life Insurance Company now owns 45,188 shares of the information technology services provider’s stock valued at $8,994,000 after purchasing an additional 7,885 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

EPAM Systems Stock Performance

Shares of NYSE:EPAM traded down $1.44 during trading on Tuesday, hitting $167.40. The company’s stock had a trading volume of 731,824 shares, compared to its average volume of 672,007. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.96 and a quick ratio of 4.56. EPAM Systems has a 12 month low of $164.00 and a 12 month high of $275.49. The firm has a market cap of $9.52 billion, a price-to-earnings ratio of 21.35, a P/E/G ratio of 3.38 and a beta of 1.61. The company has a 50-day moving average of $218.35 and a 200-day moving average of $220.27.

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

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.