Short Interest in EPAM Systems, Inc. (NYSE:EPAM) Drops By 5.7%

EPAM Systems, Inc. (NYSE:EPAM) was the target of a large decrease in short interest in December. As of December 31st, there was short interest totalling 531,800 shares, a decrease of 5.7% from the December 15th total of 564,000 shares. Based on an average daily volume of 627,800 shares, the days-to-cover ratio is currently 0.8 days. Currently, 1.0% of the company’s shares are sold short.

Insiders Place Their Bets

In related news, CFO Jason D. Peterson sold 1,000 shares of EPAM Systems stock in a transaction that occurred on Thursday, November 7th. The stock was 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 in the company, valued at $5,886,132. The trade was a 3.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Viktar Dvorkin sold 6,758 shares of the stock in a transaction 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 completion of the transaction, the senior vice president now owns 13,000 shares of the company’s stock, valued at approximately $3,334,890. This trade represents a 34.20 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,222 shares of company stock worth $2,089,878. 4.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On EPAM Systems

Several hedge funds and other institutional investors have recently made changes to their positions in EPAM. Geneva Capital Management LLC increased its stake in shares of EPAM Systems by 6.0% in the 3rd quarter. Geneva Capital Management LLC now owns 71,281 shares of the information technology services provider’s stock worth $14,187,000 after purchasing an additional 4,027 shares in the last quarter. Centre Asset Management LLC bought a new stake in EPAM Systems during the fourth quarter valued at about $8,757,000. Oppenheimer Asset Management Inc. purchased a new stake in EPAM Systems in the third quarter worth about $8,195,000. Victory Capital Management Inc. raised its stake in shares of EPAM Systems by 247.6% in the third quarter. Victory Capital Management Inc. now owns 72,447 shares of the information technology services provider’s stock worth $14,419,000 after buying an additional 51,603 shares during the period. Finally, Raymond James & Associates lifted its position in shares of EPAM Systems by 1,741.1% during the 3rd quarter. Raymond James & Associates now owns 36,694 shares of the information technology services provider’s stock valued at $7,303,000 after buying an additional 34,701 shares in the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

EPAM Systems Stock Performance

Shares of EPAM opened at $228.91 on Friday. EPAM Systems has a one year low of $169.43 and a one year high of $317.50. The business has a fifty day moving average of $239.45 and a 200 day moving average of $213.59. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.56 and a quick ratio of 4.56. The firm has a market capitalization of $12.98 billion, a P/E ratio of 29.73, a PEG ratio of 3.32 and a beta of 1.50.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Needham & Company LLC raised 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. Scotiabank upgraded EPAM Systems from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the company from $245.00 to $275.00 in a research note on Monday, November 11th. Citigroup boosted their target price on EPAM Systems from $207.00 to $210.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Mizuho raised their price target on EPAM Systems from $245.00 to $282.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Piper Sandler upped their price target on shares of EPAM Systems from $225.00 to $258.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $267.84.

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.