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

EPAM Systems, Inc. (NYSE:EPAM) was the target of a significant increase in short interest during the month of August. As of August 15th, there was short interest totalling 1,040,000 shares, an increase of 12.6% from the July 31st total of 923,600 shares. Based on an average daily trading volume, of 658,300 shares, the short-interest ratio is currently 1.6 days. Currently, 1.9% of the shares of the company are sold short.

Institutional Trading of EPAM Systems

Several large investors have recently bought and sold shares of the business. Benjamin F. Edwards & Company Inc. purchased a new stake in EPAM Systems in the 4th quarter valued at $25,000. ORG Partners LLC grew its holdings in shares of EPAM Systems by 5,000.0% in the second quarter. ORG Partners LLC now owns 153 shares of the information technology services provider’s stock valued at $28,000 after purchasing an additional 150 shares during the period. Riverview Trust Co acquired a new stake in EPAM Systems during the first quarter worth about $29,000. Opal Wealth Advisors LLC purchased a new position in EPAM Systems during the second quarter worth about $29,000. Finally, Principal Securities Inc. purchased a new stake in shares of EPAM Systems in the 4th quarter valued at approximately $43,000. Hedge funds and other institutional investors own 91.58% of the company’s stock.

EPAM Systems Price Performance

Shares of EPAM Systems stock traded down $0.48 during mid-day trading on Monday, reaching $200.76. 455,600 shares of the stock traded hands, compared to its average volume of 616,495. The stock has a market capitalization of $11.64 billion, a PE ratio of 27.46, a PEG ratio of 4.41 and a beta of 1.45. The business has a 50-day moving average of $198.63 and a 200 day moving average of $226.74. EPAM Systems has a fifty-two week low of $169.43 and a fifty-two week high of $317.50. The company has a quick ratio of 4.84, a current ratio of 4.84 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAM) last posted its quarterly earnings data on Thursday, August 8th. The information technology services provider reported $2.45 EPS for the quarter, beating the consensus estimate of $2.26 by $0.19. EPAM Systems had a return on equity of 14.31% and a net margin of 8.86%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the prior year, the company earned $2.21 EPS. The firm’s revenue was down 2.0% compared to the same quarter last year. On average, analysts predict that EPAM Systems will post 8.07 EPS for the current year.

EPAM Systems declared that its board has authorized a share repurchase program on Thursday, August 8th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the information technology services provider to repurchase up to 4.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts have commented on the company. Barclays lifted their price target on EPAM Systems from $200.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Wolfe Research lowered EPAM Systems from an “outperform” rating to a “peer perform” rating in a research report on Friday, May 17th. Scotiabank lowered shares of EPAM Systems from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the stock from $300.00 to $245.00 in a research report on Friday, May 10th. Jefferies Financial Group raised shares of EPAM Systems from a “hold” rating to a “buy” rating and upped their price objective for the company from $202.00 to $237.00 in a report on Tuesday, July 16th. Finally, Needham & Company LLC reduced their target price on shares of EPAM Systems from $350.00 to $210.00 and set a “buy” rating for the company in a report on Friday, May 10th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, EPAM Systems presently has a consensus rating of “Hold” and an average price target of $260.21.

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.