Short Interest in EPAM Systems, Inc. (NYSE:EPAM) Increases By 9.1%

EPAM Systems, Inc. (NYSE:EPAM) saw a significant increase in short interest during the month of October. As of October 15th, there was short interest totalling 701,200 shares, an increase of 9.1% from the September 30th total of 642,500 shares. Based on an average daily trading volume, of 555,400 shares, the days-to-cover ratio is currently 1.3 days. Approximately 1.3% of the company’s shares are sold short.

EPAM Systems Stock Down 2.5 %

EPAM traded down $4.77 on Wednesday, hitting $189.11. The company had a trading volume of 340,613 shares, compared to its average volume of 612,330. The stock has a fifty day moving average price of $198.45 and a 200-day moving average price of $200.21. EPAM Systems has a 12-month low of $169.43 and a 12-month high of $317.50. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.84 and a current ratio of 4.84. The stock has a market capitalization of $10.96 billion, a price-to-earnings ratio of 25.87, a P/E/G ratio of 4.35 and a beta of 1.45.

EPAM Systems (NYSE:EPAM) last posted its earnings results on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share (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 company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the firm earned $2.21 earnings per share. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. Analysts predict that EPAM Systems will post 8.08 EPS for the current fiscal year.

EPAM Systems announced that its Board of Directors has authorized a stock repurchase program on Thursday, August 8th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the information technology services provider to reacquire up to 4.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Piper Sandler restated an “overweight” rating and issued a $225.00 price target on shares of EPAM Systems in a research report on Tuesday, October 8th. Citigroup raised their price target on EPAM Systems from $207.00 to $210.00 and gave the stock a “neutral” rating in a research report on Monday. JPMorgan Chase & Co. raised their price target on EPAM Systems from $222.00 to $262.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Jefferies Financial Group increased their target price on EPAM Systems from $237.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Finally, StockNews.com upgraded EPAM Systems from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $254.89.

Institutional Investors Weigh In On EPAM Systems

Several institutional investors have recently added to or reduced their stakes in EPAM. ORG Partners LLC boosted its holdings in 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 worth $28,000 after acquiring an additional 150 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of EPAM Systems during the second quarter worth about $29,000. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of EPAM Systems by 181.8% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 155 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 100 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of EPAM Systems by 101.0% during the third quarter. Farther Finance Advisors LLC now owns 211 shares of the information technology services provider’s stock worth $42,000 after purchasing an additional 106 shares during the period. Finally, Sentry Investment Management LLC acquired a new stake in shares of EPAM Systems during the third quarter worth about $52,000. Institutional investors and hedge funds own 91.58% of the company’s stock.

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.