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

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

Wall Street Analysts Forecast Growth

EPAM has been the subject of several research reports. Scotiabank lowered their price objective on shares of EPAM Systems from $275.00 to $250.00 and set a “sector outperform” rating for the company in a research report on Monday, February 24th. The Goldman Sachs Group upgraded shares of EPAM Systems from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $235.00 to $295.00 in a research report on Friday, December 6th. Needham & Company LLC reiterated a “buy” rating and issued a $265.00 price objective on shares of EPAM Systems in a research report on Thursday, February 20th. Jefferies Financial Group dropped their target price on EPAM Systems from $305.00 to $288.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Finally, Morgan Stanley raised their price target on EPAM Systems from $230.00 to $256.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $267.33.

Insiders Place Their Bets

In other news, CFO Jason D. Peterson sold 1,078 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was 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. This trade represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC lifted its position 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 worth $27,000 after buying an additional 54 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in EPAM Systems by 2,500.0% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 130 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 125 shares in the last quarter. TD Private Client Wealth LLC boosted its position in EPAM Systems by 88.5% during the fourth quarter. TD Private Client Wealth LLC now owns 147 shares of the information technology services provider’s stock valued at $34,000 after purchasing an additional 69 shares during the last quarter. Versant Capital Management Inc bought a new position in EPAM Systems in the fourth quarter valued at approximately $35,000. Finally, Manchester Capital Management LLC increased its position in shares of 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 worth $48,000 after purchasing an additional 177 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

EPAM Systems Stock Up 2.0 %

EPAM stock traded up $3.61 during trading hours on Monday, reaching $186.34. 620,422 shares of the stock were exchanged, compared to its average volume of 647,258. The firm’s 50-day moving average is $230.19 and its 200-day moving average is $222.38. EPAM Systems has a 12 month low of $169.43 and a 12 month high of $301.60. The company has a market cap of $10.60 billion, a price-to-earnings ratio of 23.77, a PEG ratio of 3.38 and a beta of 1.61. 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 (NYSE:EPAM) last posted its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $2.23 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $1.21 billion. On average, equities research 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.