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

EPAM Systems, Inc. (NYSE:EPAM) was the recipient of a significant decline in short interest in the month of November. As of November 30th, there was short interest totalling 642,800 shares, a decline of 7.4% from the November 15th total of 694,400 shares. Based on an average daily volume of 671,100 shares, the days-to-cover ratio is currently 1.0 days. Currently, 1.2% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price target on EPAM Systems from $222.00 to $262.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Needham & Company LLC boosted their target price on shares of EPAM Systems from $215.00 to $265.00 and gave the company a “buy” rating in a research note on Friday, November 8th. StockNews.com raised shares of EPAM Systems from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Citigroup upped their target price on EPAM Systems from $207.00 to $210.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Finally, Piper Sandler increased their target price on shares of EPAM Systems from $225.00 to $258.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, EPAM Systems has an average rating of “Moderate Buy” and a consensus price target of $268.95.

Insider Activity

In other news, CFO Jason D. Peterson sold 1,000 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $237.00, for a total transaction of $237,000.00. Following the sale, the chief financial officer now directly owns 24,836 shares of the company’s stock, valued at $5,886,132. This represents a 3.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Viktar Dvorkin sold 6,758 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $256.53, for a total value of $1,733,629.74. Following the sale, the senior vice president now owns 13,000 shares of the company’s stock, 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. Over the last ninety days, insiders sold 8,222 shares of company stock valued at $2,089,878. 4.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On EPAM Systems

Institutional investors and hedge funds have recently bought and sold shares of the company. Pacer Advisors Inc. raised its stake in EPAM Systems by 14,325.2% during the second quarter. Pacer Advisors Inc. now owns 657,070 shares of the information technology services provider’s stock worth $123,601,000 after purchasing an additional 652,515 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of EPAM Systems by 643.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 417,526 shares of the information technology services provider’s stock worth $83,100,000 after purchasing an additional 361,363 shares in the last quarter. TD Asset Management Inc grew its stake in EPAM Systems by 80.0% in the 2nd quarter. TD Asset Management Inc now owns 595,486 shares of the information technology services provider’s stock worth $112,017,000 after acquiring an additional 264,570 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of EPAM Systems by 47,294.2% in the 2nd quarter. Acadian Asset Management LLC now owns 189,103 shares of the information technology services provider’s stock valued at $35,560,000 after purchasing an additional 188,704 shares during the last quarter. Finally, Epoch Investment Partners Inc. lifted its holdings in shares of EPAM Systems by 97.7% during the 2nd quarter. Epoch Investment Partners Inc. now owns 338,667 shares of the information technology services provider’s stock valued at $63,707,000 after acquiring an additional 167,343 shares in the last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

EPAM Systems Price Performance

EPAM traded down $1.05 during trading on Monday, hitting $243.59. 545,178 shares of the company traded hands, compared to its average volume of 635,730. The company has a market cap of $13.82 billion, a PE ratio of 31.77, a P/E/G ratio of 3.87 and a beta of 1.49. 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’s 50-day simple moving average is $220.73 and its two-hundred day simple moving average is $203.93.

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.