EPAM Systems Inc (NYSE:EPAM) was the recipient of a large drop in short interest in the month of May. As of May 15th, there was short interest totalling 1,400,000 shares, a drop of 9.7% from the April 30th total of 1,550,000 shares. Based on an average daily volume of 433,100 shares, the short-interest ratio is currently 3.2 days. Approximately 2.6% of the shares of the stock are sold short.
In related news, CFO Jason D. Peterson sold 400 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $225.00, for a total transaction of $90,000.00. Following the completion of the sale, the chief financial officer now owns 12,199 shares in the company, valued at $2,744,775. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jason D. Peterson sold 2,210 shares of EPAM Systems stock in a transaction that occurred on Monday, March 2nd. The shares were 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 approximately $2,711,475. The disclosure for this sale can be found here. Insiders have sold a total of 39,687 shares of company stock worth $8,564,301 over the last 90 days. Insiders own 5.30% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. TRUE Private Wealth Advisors bought a new stake in EPAM Systems in the fourth quarter worth $26,000. Fifth Third Bancorp increased its position in EPAM Systems by 833.3% during the first quarter. Fifth Third Bancorp now owns 140 shares of the information technology services provider’s stock valued at $26,000 after acquiring an additional 125 shares during the last quarter. Howard Wealth Management LLC purchased a new stake in shares of EPAM Systems in the fourth quarter valued at $27,000. BDO Wealth Advisors LLC bought a new stake in shares of EPAM Systems in the 1st quarter worth about $27,000. Finally, Evolution Wealth Advisors LLC bought a new stake in shares of EPAM Systems in the 1st quarter worth about $32,000. Institutional investors own 92.04% of the company’s stock.
EPAM has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their target price on shares of EPAM Systems from $247.00 to $249.00 and gave the stock an “overweight” rating in a report on Wednesday, March 11th. Cowen reduced their price target on shares of EPAM Systems from $260.00 to $225.00 and set an “outperform” rating on the stock in a report on Monday, April 13th. Zacks Investment Research raised shares of EPAM Systems from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a report on Thursday, March 26th. Susquehanna Bancshares lowered EPAM Systems from a “positive” rating to a “neutral” rating and cut their price objective for the company from $274.00 to $230.00 in a research report on Friday, April 24th. Finally, KeyCorp boosted their target price on EPAM Systems from $252.00 to $267.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $243.25.
Shares of NYSE:EPAM opened at $223.45 on Friday. The company has a market cap of $12.46 billion, a price-to-earnings ratio of 45.59, a PEG ratio of 2.94 and a beta of 1.32. EPAM Systems has a 12 month low of $151.97 and a 12 month high of $248.27. The company has a current ratio of 3.87, a quick ratio of 3.87 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $205.17 and a 200 day moving average price of $210.36.
EPAM Systems (NYSE:EPAM) last issued its quarterly earnings data on Thursday, May 7th. The information technology services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.03. The business had revenue of $651.36 million for the quarter, compared to the consensus estimate of $650.01 million. EPAM Systems had a return on equity of 18.45% and a net margin of 11.79%. The company’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.25 earnings per share. As a group, equities analysts forecast that EPAM Systems will post 4.48 EPS for the current year.
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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