EPAM Systems Inc (NYSE:EPAM) was the recipient of a significant decrease in short interest during the month of May. As of May 15th, there was short interest totalling 1,400,000 shares, a decrease of 9.7% from the April 30th total of 1,550,000 shares. Currently, 2.6% of the shares of the company are sold short. Based on an average daily trading volume, of 433,100 shares, the short-interest ratio is currently 3.2 days.
Shares of NYSE EPAM opened at $223.45 on Friday. The firm has a market cap of $12.46 billion, a price-to-earnings ratio of 45.59, a price-to-earnings-growth ratio of 2.94 and a beta of 1.32. The company’s 50-day simple moving average is $205.17 and its 200-day simple moving average is $210.36. The company has a quick ratio of 3.87, a current ratio of 3.87 and a debt-to-equity ratio of 0.13. EPAM Systems has a 52-week low of $151.97 and a 52-week high of $248.27.
EPAM Systems (NYSE:EPAM) last issued its quarterly earnings results on Thursday, May 7th. The information technology services provider reported $1.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.03. EPAM Systems had a net margin of 11.79% and a return on equity of 18.45%. The firm had revenue of $651.36 million for the quarter, compared to analyst estimates of $650.01 million. During the same period last year, the company posted $1.25 EPS. EPAM Systems’s quarterly revenue was up 24.9% compared to the same quarter last year. Equities research analysts anticipate that EPAM Systems will post 4.48 EPS for the current fiscal year.
In other EPAM Systems news, CFO Jason D. Peterson sold 500 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $229.00, for a total value of $114,500.00. Following the sale, the chief financial officer now directly owns 13,196 shares of the company’s stock, valued at $3,021,884. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Jason D. Peterson sold 2,210 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $225.00, for a total value of $497,250.00. Following the sale, the chief financial officer now directly owns 12,051 shares in the company, valued at $2,711,475. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,687 shares of company stock worth $8,564,301. 5.30% of the stock is owned by insiders.
Several large investors have recently modified their holdings of the company. Bank of New York Mellon Corp increased its position in shares of EPAM Systems by 33.2% during the fourth quarter. Bank of New York Mellon Corp now owns 335,599 shares of the information technology services provider’s stock worth $71,201,000 after purchasing an additional 83,625 shares in the last quarter. Great West Life Assurance Co. Can acquired a new stake in EPAM Systems during the 4th quarter worth $5,403,000. Atria Investments LLC grew its holdings in shares of EPAM Systems by 60.9% during the fourth quarter. Atria Investments LLC now owns 3,158 shares of the information technology services provider’s stock worth $670,000 after buying an additional 1,195 shares in the last quarter. Capital Impact Advisors LLC grew its holdings in shares of EPAM Systems by 8.9% during the fourth quarter. Capital Impact Advisors LLC now owns 10,484 shares of the information technology services provider’s stock worth $2,224,000 after buying an additional 860 shares in the last quarter. Finally, Chartwell Investment Partners LLC raised its position in shares of EPAM Systems by 15.8% in the fourth quarter. Chartwell Investment Partners LLC now owns 7,517 shares of the information technology services provider’s stock valued at $1,595,000 after buying an additional 1,025 shares during the last quarter. 92.04% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently commented on the company. VTB Capital upgraded EPAM Systems from a “sell” rating to a “hold” rating in a research note on Friday, March 13th. Citigroup lifted their target price on shares of EPAM Systems from $245.00 to $265.00 and gave the company a “buy” rating in a report on Friday, May 8th. Piper Sandler assumed coverage on shares of EPAM Systems in a report on Thursday. They set an “overweight” rating and a $258.00 price target on the stock. JPMorgan Chase & Co. raised their price target on shares of EPAM Systems from $247.00 to $249.00 and gave the company an “overweight” rating in a research report on Wednesday, March 11th. Finally, Zacks Investment Research upgraded shares of EPAM Systems from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a research report on Thursday, March 26th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $243.25.
EPAM Systems Company Profile
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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