Short Interest in EPAM Systems, Inc. (NYSE:EPAM) Grows By 37.7%

EPAM Systems, Inc. (NYSE:EPAM) was the recipient of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 780,400 shares, an increase of 37.7% from the January 15th total of 566,600 shares. Currently, 1.4% of the company’s shares are sold short. Based on an average trading volume of 632,100 shares, the days-to-cover ratio is currently 1.2 days.

EPAM Systems Stock Down 0.5 %

NYSE:EPAM traded down $1.42 during trading hours on Friday, reaching $266.21. The company’s stock had a trading volume of 387,209 shares, compared to its average volume of 511,176. The company has a market capitalization of $15.10 billion, a P/E ratio of 34.57, a price-to-earnings-growth ratio of 3.96 and a beta of 1.51. 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 4.56 and a current ratio of 4.56. The stock has a 50 day moving average price of $244.09 and a two-hundred day moving average price of $221.14.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on EPAM shares. Mizuho lifted their price target on EPAM Systems from $245.00 to $282.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Barclays upgraded EPAM Systems from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $250.00 to $290.00 in a research note on Tuesday, December 17th. Piper Sandler increased their price target on EPAM Systems from $225.00 to $258.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Needham & Company LLC increased their price target on EPAM Systems from $215.00 to $265.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, The Goldman Sachs Group raised EPAM Systems from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $235.00 to $295.00 in a research note on Friday, December 6th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $269.83.

Insider Transactions at EPAM Systems

In other news, CFO Jason D. Peterson sold 464 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $257.00, for a total value of $119,248.00. Following the transaction, the chief financial officer now owns 24,372 shares in the company, valued at $6,263,604. This represents a 1.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Viktar Dvorkin sold 6,758 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $256.53, for a total transaction of $1,733,629.74. Following the completion of the sale, the senior vice president now directly owns 13,000 shares of the company’s stock, 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 ninety days, insiders sold 8,300 shares of company stock worth $2,129,924. 4.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. CWM LLC boosted its position in EPAM Systems by 112.8% in the 3rd quarter. CWM LLC now owns 3,951 shares of the information technology services provider’s stock valued at $786,000 after buying an additional 2,094 shares during the period. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in 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 buying an additional 100 shares in the last quarter. Exchange Traded Concepts LLC raised its position in EPAM Systems by 573.1% during the third quarter. Exchange Traded Concepts LLC now owns 801 shares of the information technology services provider’s stock worth $159,000 after acquiring an additional 682 shares during the last quarter. Creative Planning raised its position in shares of EPAM Systems by 100.8% in the third quarter. Creative Planning now owns 7,178 shares of the information technology services provider’s stock valued at $1,429,000 after buying an additional 3,604 shares during the last quarter. Finally, NBC Securities Inc. increased its position in EPAM Systems by 549.1% during the third quarter. NBC Securities Inc. now owns 1,097 shares of the information technology services provider’s stock worth $218,000 after purchasing an additional 928 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

About EPAM Systems

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.