EPAM Systems Inc (NYSE:EPAM) Short Interest Update

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EPAM Systems Inc (NYSE:EPAM) saw a significant decline in short interest during the month of June. As of June 30th, there was short interest totalling 1,004,000 shares, a decline of 10.8% from the May 30th total of 1,125,700 shares. Based on an average daily trading volume, of 488,200 shares, the days-to-cover ratio is presently 2.1 days. Approximately 1.9% of the shares of the company are sold short.

NYSE:EPAM traded up $2.58 during mid-day trading on Friday, hitting $193.63. The company had a trading volume of 412,577 shares, compared to its average volume of 424,760. EPAM Systems has a fifty-two week low of $104.77 and a fifty-two week high of $193.80. The company has a fifty day moving average price of $174.79. The company has a current ratio of 4.41, a quick ratio of 4.41 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $10.58 billion, a price-to-earnings ratio of 49.52, a P/E/G ratio of 2.34 and a beta of 1.41.

EPAM Systems (NYSE:EPAM) last released its earnings results on Thursday, May 9th. The information technology services provider reported $1.25 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.33. The firm had revenue of $521.30 million for the quarter, compared to analyst estimates of $519.11 million. EPAM Systems had a return on equity of 19.56% and a net margin of 12.19%. The company’s quarterly revenue was up 22.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.93 earnings per share. As a group, research analysts anticipate that EPAM Systems will post 4.24 earnings per share for the current year.

A number of research analysts recently commented on the company. Zacks Investment Research lowered ExlService from a “hold” rating to a “sell” rating in a research note on Wednesday. Wedbush restated an “outperform” rating on shares of Purple Innovation in a research note on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. EPAM Systems currently has a consensus rating of “Buy” and a consensus target price of $161.56.

In related news, Director Richard Michael Mayoras sold 3,372 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $174.80, for a total value of $589,425.60. Following the completion of the transaction, the director now directly owns 10,453 shares in the company, valued at $1,827,184.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Arkadiy Dobkin sold 25,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $168.71, for a total value of $4,217,750.00. Following the completion of the transaction, the chief executive officer now owns 1,738,490 shares of the company’s stock, valued at $293,300,647.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 362,189 shares of company stock valued at $63,001,372. Corporate insiders own 5.30% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Redmond Asset Management LLC raised its holdings in EPAM Systems by 1.4% in the 1st quarter. Redmond Asset Management LLC now owns 6,328 shares of the information technology services provider’s stock valued at $1,070,000 after acquiring an additional 85 shares in the last quarter. Sheets Smith Wealth Management raised its holdings in shares of EPAM Systems by 2.4% during the 1st quarter. Sheets Smith Wealth Management now owns 4,349 shares of the information technology services provider’s stock worth $736,000 after buying an additional 101 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of EPAM Systems by 0.3% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 32,178 shares of the information technology services provider’s stock worth $5,442,000 after buying an additional 111 shares in the last quarter. US Bancorp DE raised its holdings in shares of EPAM Systems by 4.8% during the 1st quarter. US Bancorp DE now owns 2,560 shares of the information technology services provider’s stock worth $433,000 after buying an additional 117 shares in the last quarter. Finally, Montag & Caldwell LLC raised its holdings in shares of EPAM Systems by 4.1% during the 1st quarter. Montag & Caldwell LLC now owns 3,680 shares of the information technology services provider’s stock worth $622,000 after buying an additional 144 shares in the last quarter. 90.80% of the stock is currently owned by institutional investors and hedge funds.

About EPAM Systems

EPAM Systems, Inc provides software product development and digital platform engineering services primarily in North America, Europe, Armenia, Belarus, Kazakhstan, Russia, Ukraine, Asia, and Australia. 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, and maintenance with private, public, and mobile infrastructures for application, database, network, server, storage, and systems operations management, as well as monitoring, incident notification, and resolution services; and maintenance and support services.

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