EPAM Systems Inc (NYSE:EPAM) Short Interest Update

EPAM Systems Inc (NYSE:EPAM) was the recipient of a significant drop in short interest during the month of July. As of July 31st, there was short interest totalling 824,900 shares, a drop of 16.8% from the June 30th total of 991,900 shares. Based on an average trading volume of 501,200 shares, the days-to-cover ratio is presently 1.6 days. Currently, 1.6% of the company’s shares are sold short.

In related news, Director Richard Michael Mayoras sold 3,372 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $174.80, for a total transaction of $589,425.60. Following the sale, the director now owns 10,453 shares in the company, valued at $1,827,184.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Arkadiy Dobkin sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $168.71, for a total transaction of $4,217,750.00. Following the sale, the chief executive officer now owns 1,738,490 shares in the company, valued at approximately $293,300,647.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 362,189 shares of company stock worth $63,001,372. 5.40% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its holdings in shares of EPAM Systems by 1.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,701,508 shares of the information technology services provider’s stock valued at $467,170,000 after purchasing an additional 39,168 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of EPAM Systems by 0.8% in the 1st quarter. BlackRock Inc. now owns 2,297,466 shares of the information technology services provider’s stock valued at $388,570,000 after purchasing an additional 18,954 shares during the last quarter. OppenheimerFunds Inc. boosted its holdings in shares of EPAM Systems by 11.7% in the 1st quarter. OppenheimerFunds Inc. now owns 1,581,263 shares of the information technology services provider’s stock valued at $267,438,000 after purchasing an additional 165,855 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of EPAM Systems by 5.0% in the 2nd quarter. Wells Fargo & Company MN now owns 888,075 shares of the information technology services provider’s stock valued at $153,726,000 after purchasing an additional 42,065 shares during the last quarter. Finally, Wasatch Advisors Inc. boosted its holdings in shares of EPAM Systems by 2.7% in the 1st quarter. Wasatch Advisors Inc. now owns 611,167 shares of the information technology services provider’s stock valued at $103,367,000 after purchasing an additional 16,194 shares during the last quarter. Institutional investors own 91.42% of the company’s stock.

A number of analysts recently issued reports on the stock. Cantor Fitzgerald raised their target price on shares of EPAM Systems from $187.00 to $212.00 and gave the stock an “overweight” rating in a research report on Friday. Cowen raised their target price on shares of EPAM Systems from $180.00 to $210.00 and gave the stock a “positive” rating in a research report on Wednesday, July 24th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of EPAM Systems from a “buy” rating to a “hold” rating and set a $198.00 target price on the stock. in a research report on Wednesday, July 10th. Finally, Wedbush restated an “outperform” rating and set a $180.00 target price (up previously from $158.00) on shares of EPAM Systems in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $173.00.

NYSE EPAM traded up $3.17 during mid-day trading on Tuesday, reaching $189.61. 327,000 shares of the stock were exchanged, compared to its average volume of 400,534. The firm has a market capitalization of $10.35 billion, a PE ratio of 48.49, a PEG ratio of 2.19 and a beta of 1.38. The firm’s fifty day simple moving average is $187.13. EPAM Systems has a 1-year low of $104.77 and a 1-year high of $201.00. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.41 and a quick ratio of 4.41.

EPAM Systems (NYSE:EPAM) last announced its quarterly earnings results on Thursday, August 8th. The information technology services provider reported $1.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.08. The company had revenue of $551.60 million for the quarter, compared to analyst estimates of $549.84 million. EPAM Systems had a net margin of 11.98% and a return on equity of 19.49%. EPAM Systems’s revenue for the quarter was up 23.8% on a year-over-year basis. During the same quarter last year, the business earned $1.01 EPS. On average, analysts forecast that EPAM Systems will post 4.3 EPS for the current fiscal year.

EPAM Systems Company Profile

EPAM Systems, Inc provides software product development and digital platform engineering services primarily in North America, Europe, Armenia, Belarus, Kazakhstan, Russia, Ukraine, Asia, and Australia. 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, and maintenance with private, public, and mobile infrastructures for application, database, network, server, storage, and systems operations management, as well as monitoring, incident notification, and resolution services; and maintenance and support services.

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