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

EPAM Systems, Inc. (NYSE:EPAM) saw a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 694,400 shares, a drop of 8.8% from the October 31st total of 761,600 shares. Approximately 1.3% of the shares of the company are short sold. Based on an average daily trading volume, of 622,200 shares, the short-interest ratio is currently 1.1 days.

EPAM Systems Stock Performance

NYSE:EPAM traded up $0.56 on Monday, hitting $244.48. The stock had a trading volume of 193,654 shares, compared to its average volume of 618,333. The business’s 50-day simple moving average is $211.19 and its two-hundred day simple moving average is $199.67. EPAM Systems has a 52-week low of $169.43 and a 52-week high of $317.50. The company has a quick ratio of 4.56, a current ratio of 4.56 and a debt-to-equity ratio of 0.01. The stock has a market cap of $13.87 billion, a price-to-earnings ratio of 31.71, a price-to-earnings-growth ratio of 3.73 and a beta of 1.46.

EPAM Systems declared that its board has authorized a stock buyback plan on Thursday, August 8th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire up to 4.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In related news, CFO Jason D. Peterson sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $237.00, for a total transaction of $237,000.00. Following the completion of the transaction, the chief financial officer now owns 24,836 shares of the company’s stock, valued at approximately $5,886,132. The trade was a 3.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.30% of the stock is owned by insiders.

Institutional Investors Weigh In On EPAM Systems

Several institutional investors have recently made changes to their positions in the company. Metis Global Partners LLC boosted its stake in shares of EPAM Systems by 2.5% during the third quarter. Metis Global Partners LLC now owns 2,029 shares of the information technology services provider’s stock valued at $404,000 after purchasing an additional 50 shares in the last quarter. Retirement Systems of Alabama lifted its stake in shares of EPAM Systems by 0.4% during the second quarter. Retirement Systems of Alabama now owns 12,788 shares of the information technology services provider’s stock worth $2,406,000 after buying an additional 52 shares during the period. Taylor Frigon Capital Management LLC grew its holdings in shares of EPAM Systems by 0.5% during the second quarter. Taylor Frigon Capital Management LLC now owns 12,339 shares of the information technology services provider’s stock valued at $2,321,000 after buying an additional 56 shares during the last quarter. First Horizon Advisors Inc. raised its stake in EPAM Systems by 21.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 325 shares of the information technology services provider’s stock worth $65,000 after acquiring an additional 57 shares during the last quarter. Finally, SkyView Investment Advisors LLC lifted its position in EPAM Systems by 3.0% during the 3rd quarter. SkyView Investment Advisors LLC now owns 2,055 shares of the information technology services provider’s stock worth $409,000 after acquiring an additional 60 shares during the period. Institutional investors own 91.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Susquehanna upped their price objective on EPAM Systems from $240.00 to $270.00 and gave the stock a “positive” rating in a report on Friday, November 8th. Scotiabank raised EPAM Systems from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the company from $245.00 to $275.00 in a research note on Monday, November 11th. Citigroup increased 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. Piper Sandler lifted their price target on EPAM Systems from $225.00 to $258.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Finally, Needham & Company LLC raised their target price on shares of EPAM Systems from $215.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $264.20.

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.