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

EPAM Systems, Inc. (NYSE:EPAM) was the target of a significant decline in short interest in 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. Approximately 1.0% of the company’s shares are sold short. Based on an average trading volume of 627,800 shares, the short-interest ratio is presently 0.8 days.

Insider Activity at EPAM Systems

In other EPAM Systems news, CFO Jason D. Peterson sold 464 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $257.00, for a total transaction of $119,248.00. Following the completion of the transaction, the chief financial officer now owns 24,372 shares of the company’s stock, valued at approximately $6,263,604. This trade represents a 1.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Viktar Dvorkin sold 6,758 shares of the company’s stock in a transaction dated 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 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. Insiders have sold a total of 8,222 shares of company stock worth $2,089,878 over the last quarter. Corporate insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On EPAM Systems

Several hedge funds and other institutional investors have recently modified their holdings of EPAM. Geneva Capital Management LLC boosted its position in shares of EPAM Systems by 6.0% in the third 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 during the period. Centre Asset Management LLC purchased a new position in shares of EPAM Systems during the fourth quarter valued at about $8,757,000. Oppenheimer Asset Management Inc. bought a new stake in shares of EPAM Systems in the third quarter worth about $8,195,000. Victory Capital Management Inc. lifted its position 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 in the last quarter. Finally, Raymond James & Associates grew its holdings in 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. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on EPAM shares. Piper Sandler boosted their price target on EPAM Systems from $225.00 to $258.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. StockNews.com upgraded shares of EPAM Systems from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. The Goldman Sachs Group upgraded shares of EPAM Systems from a “neutral” rating to a “buy” rating and raised their price objective for the company from $235.00 to $295.00 in a research note on Friday, December 6th. Susquehanna upped their target price on shares of EPAM Systems from $240.00 to $270.00 and gave the stock a “positive” rating in a research note on Friday, November 8th. Finally, Needham & Company LLC raised their price target on shares of EPAM Systems from $215.00 to $265.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $267.84.

EPAM Systems Stock Performance

Shares of NYSE EPAM opened at $228.91 on Monday. The company has a current ratio of 4.56, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01. EPAM Systems has a 12-month low of $169.43 and a 12-month high of $317.50. The firm has a market capitalization of $12.98 billion, a price-to-earnings ratio of 29.73, a price-to-earnings-growth ratio of 3.32 and a beta of 1.50. The firm has a 50 day moving average of $239.45 and a 200 day moving average of $213.79.

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.