EPAM Systems, Inc. (NYSE:EPAM) Sees Significant Growth in Short Interest

EPAM Systems, Inc. (NYSE:EPAM - Get Free Report) saw a large increase in short interest in 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 shares of the company are sold short. Based on an average daily volume of 632,100 shares, the days-to-cover ratio is presently 1.2 days.

EPAM Systems Trading Down 1.9 %

EPAM traded down $5.11 on Tuesday, hitting $261.01. The company had a trading volume of 684,452 shares, compared to its average volume of 511,627. The business's fifty day simple moving average is $244.68 and its 200 day simple moving average is $221.91. The company has a quick ratio of 4.56, a current 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 company has a market cap of $14.80 billion, a PE ratio of 33.90, a PEG ratio of 3.96 and a beta of 1.51.

Insider Buying and Selling

In other EPAM Systems news, 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 value of $1,733,629.74. Following the completion of the sale, the senior vice president now 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Jason D. Peterson sold 1,078 shares of EPAM Systems stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $257.00, for a total value of $277,046.00. Following the transaction, the chief financial officer now directly owns 23,382 shares in the company, valued at approximately $6,009,174. The trade was a 4.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,300 shares of company stock valued at $2,129,924. 4.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On EPAM Systems

Institutional investors and hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC lifted its position in EPAM Systems by 90.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider's stock worth $27,000 after buying an additional 54 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of EPAM Systems by 2,500.0% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 130 shares of the information technology services provider's stock valued at $30,000 after acquiring an additional 125 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of EPAM Systems by 181.8% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 155 shares of the information technology services provider's stock worth $31,000 after acquiring an additional 100 shares during the last quarter. TD Private Client Wealth LLC boosted its stake in shares of EPAM Systems by 88.5% during the 4th quarter. TD Private Client Wealth LLC now owns 147 shares of the information technology services provider's stock worth $34,000 after purchasing an additional 69 shares during the period. Finally, Versant Capital Management Inc purchased a new stake in EPAM Systems in the 4th quarter worth about $35,000. Hedge funds and other institutional investors own 91.58% of the company's stock.

Analysts Set New Price Targets

EPAM has been the topic of several recent analyst reports. Barclays upgraded shares of EPAM Systems from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $250.00 to $290.00 in a research report on Tuesday, December 17th. Jefferies Financial Group decreased their price target on EPAM Systems from $305.00 to $288.00 and set a "buy" rating on the stock in a report on Tuesday, January 21st. Itau BBA Securities raised EPAM Systems from a "market perform" rating to an "outperform" rating and set a $269.00 price objective for the company in a research note on Friday, November 8th. Needham & Company LLC lifted their target price on EPAM Systems from $215.00 to $265.00 and gave the company a "buy" rating in a research note on Friday, November 8th. Finally, Morgan Stanley boosted their price target on EPAM Systems from $230.00 to $256.00 and gave the stock an "equal weight" rating in a report on Friday, January 31st. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, EPAM Systems has a consensus rating of "Moderate Buy" and a consensus price target of $269.83.

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.