EPAM Systems, Inc. (NYSE:EPAM) Sees Significant Decrease in Short Interest

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

Insider Buying and Selling

In related news, CFO Jason D. Peterson sold 464 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $257.00, for a total transaction of $119,248.00. Following the transaction, the chief financial officer now directly owns 24,372 shares in the company, valued at $6,263,604. The trade was a 1.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Viktar Dvorkin sold 6,758 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $256.53, for a total value of $1,733,629.74. Following the transaction, the senior vice president now owns 13,000 shares in the company, valued at $3,334,890. This represents a 34.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,222 shares of company stock valued at $2,089,878. Insiders own 4.30% of the company’s stock.

Institutional Trading of EPAM Systems

A number of large investors have recently made changes to their positions in the company. Pacer Advisors Inc. increased its position in shares of EPAM Systems by 14,325.2% in the 2nd quarter. Pacer Advisors Inc. now owns 657,070 shares of the information technology services provider’s stock valued at $123,601,000 after buying an additional 652,515 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of EPAM Systems by 45.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 515,351 shares of the information technology services provider’s stock valued at $102,570,000 after buying an additional 160,989 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of EPAM Systems by 643.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 417,526 shares of the information technology services provider’s stock valued at $83,100,000 after buying an additional 361,363 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in EPAM Systems by 10.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 346,201 shares of the information technology services provider’s stock worth $80,949,000 after purchasing an additional 33,715 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in EPAM Systems by 33.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 342,734 shares of the information technology services provider’s stock worth $64,466,000 after purchasing an additional 85,883 shares in the last quarter. Institutional investors own 91.58% of the company’s stock.

EPAM Systems Stock Performance

EPAM stock opened at $228.91 on Friday. The company has a quick ratio of 4.56, a current ratio of 4.56 and a debt-to-equity ratio of 0.01. EPAM Systems has a twelve month low of $169.43 and a twelve month high of $317.50. The business’s fifty day moving average is $239.45 and its 200-day moving average is $213.59. The company has a market cap of $12.98 billion, a P/E ratio of 29.73, a price-to-earnings-growth ratio of 3.32 and a beta of 1.50.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. StockNews.com upgraded EPAM Systems from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Piper Sandler boosted their price target on EPAM Systems from $225.00 to $258.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Barclays upgraded EPAM Systems from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $250.00 to $290.00 in a research note on Tuesday, December 17th. Scotiabank upgraded EPAM Systems from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $245.00 to $275.00 in a research note on Monday, November 11th. Finally, Susquehanna upped their price objective on EPAM Systems from $240.00 to $270.00 and gave the company a “positive” rating in a research note on Friday, November 8th. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company 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.