EPAM Systems Inc (NYSE:EPAM) was the recipient of a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 672,800 shares, a drop of 8.8% from the August 30th total of 737,800 shares. Approximately 1.3% of the company’s shares are sold short. Based on an average trading volume of 358,700 shares, the days-to-cover ratio is currently 1.9 days.
EPAM traded up $1.75 on Tuesday, reaching $189.95. 137,360 shares of the company traded hands, compared to its average volume of 379,572. EPAM Systems has a one year low of $104.77 and a one year high of $201.00. The firm has a fifty day simple moving average of $186.16 and a two-hundred day simple moving average of $180.39. The company has a market cap of $10.32 billion, a P/E ratio of 48.58, a price-to-earnings-growth ratio of 2.17 and a beta of 1.47. The company has a quick ratio of 4.72, a current ratio of 4.72 and a debt-to-equity ratio of 0.13.
EPAM Systems (NYSE:EPAM) last announced its quarterly earnings data on Thursday, August 8th. The information technology services provider reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.08. EPAM Systems had a net margin of 11.98% and a return on equity of 18.90%. The company had revenue of $551.60 million during the quarter, compared to analyst estimates of $549.84 million. During the same quarter last year, the business posted $1.01 EPS. The firm’s revenue for the quarter was up 23.8% on a year-over-year basis. On average, equities analysts forecast that EPAM Systems will post 4.36 earnings per share for the current year.
Several equities research analysts have recently issued reports on EPAM shares. ValuEngine lowered shares of EPAM Systems from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Zacks Investment Research upgraded shares of EPAM Systems from a “hold” rating to a “buy” rating and set a $199.00 target price for the company in a report on Wednesday, August 14th. Cowen lifted their price objective on shares of EPAM Systems from $180.00 to $210.00 and gave the company a “positive” rating in a report on Wednesday, July 24th. They noted that the move was a valuation call. Barclays began coverage on shares of EPAM Systems in a report on Friday, September 20th. They set an “overweight” rating and a $214.00 price objective for the company. Finally, Cantor Fitzgerald lifted their price objective on shares of EPAM Systems from $187.00 to $212.00 and gave the company an “overweight” rating in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $182.78.
In other news, CMO Elaina Shekhter sold 2,800 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $195.00, for a total value of $546,000.00. Following the completion of the sale, the chief marketing officer now owns 10,459 shares in the company, valued at approximately $2,039,505. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jason D. Peterson sold 3,469 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $186.92, for a total transaction of $648,425.48. Following the completion of the sale, the chief financial officer now owns 15,473 shares of the company’s stock, valued at approximately $2,892,213.16. The disclosure for this sale can be found here. 5.40% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of EPAM Systems by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 4,743,727 shares of the information technology services provider’s stock valued at $821,140,000 after purchasing an additional 59,165 shares in the last quarter. BlackRock Inc. grew its position in shares of EPAM Systems by 24.4% in the 2nd quarter. BlackRock Inc. now owns 2,857,844 shares of the information technology services provider’s stock worth $494,692,000 after buying an additional 560,378 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of EPAM Systems by 1.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,701,508 shares of the information technology services provider’s stock worth $467,170,000 after buying an additional 39,168 shares during the last quarter. Invesco Ltd. grew its position in shares of EPAM Systems by 68.6% in the 2nd quarter. Invesco Ltd. now owns 2,337,667 shares of the information technology services provider’s stock worth $404,650,000 after buying an additional 950,958 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of EPAM Systems by 5.0% in the 2nd quarter. Wells Fargo & Company MN now owns 888,075 shares of the information technology services provider’s stock worth $153,726,000 after buying an additional 42,065 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.
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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