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

EPAM Systems Inc (NYSE:EPAM) was the target of a large growth in short interest in the month of May. As of May 31st, there was short interest totalling 1,449,800 shares, a growth of 206.4% from the April 30th total of 473,100 shares. Based on an average daily trading volume, of 446,500 shares, the short-interest ratio is presently 3.2 days. Currently, 2.8% of the shares of the company are short sold.

In other EPAM Systems news, CFO Jason D. Peterson sold 1,000 shares of EPAM Systems stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $170.25, for a total value of $170,250.00. Following the completion of the sale, the chief financial officer now owns 13,039 shares in the company, valued at approximately $2,219,889.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Arkadiy Dobkin sold 25,000 shares of EPAM Systems stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $168.71, for a total transaction of $4,217,750.00. Following the completion of the sale, the chief executive officer now owns 1,738,490 shares of the company’s stock, valued at approximately $293,300,647.90. The disclosure for this sale can be found here. Insiders have sold a total of 287,740 shares of company stock valued at $50,035,540 in the last ninety days. 5.40% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of EPAM. Norges Bank bought a new stake in shares of EPAM Systems during the 4th quarter valued at approximately $60,882,000. OppenheimerFunds Inc. grew its holdings in shares of EPAM Systems by 11.7% during the 1st quarter. OppenheimerFunds Inc. now owns 1,581,263 shares of the information technology services provider’s stock valued at $267,438,000 after purchasing an additional 165,855 shares during the last quarter. Vanguard Group Inc grew its holdings in shares of EPAM Systems by 2.7% during the 3rd quarter. Vanguard Group Inc now owns 4,447,536 shares of the information technology services provider’s stock valued at $612,425,000 after purchasing an additional 117,376 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of EPAM Systems by 60.1% during the 4th quarter. Victory Capital Management Inc. now owns 286,659 shares of the information technology services provider’s stock valued at $33,255,000 after purchasing an additional 107,589 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in shares of EPAM Systems by 3.5% during the 4th quarter. BlackRock Inc. now owns 2,278,512 shares of the information technology services provider’s stock valued at $264,330,000 after purchasing an additional 76,660 shares during the last quarter. Institutional investors own 90.80% of the company’s stock.

Shares of NYSE:EPAM traded down $1.10 during midday trading on Monday, hitting $173.40. The stock had a trading volume of 10,345 shares, compared to its average volume of 614,073. The stock has a 50-day moving average price of $172.22. The company has a market capitalization of $9.53 billion, a P/E ratio of 44.37, a P/E/G ratio of 2.10 and a beta of 1.51. The company has a quick ratio of 4.41, a current ratio of 4.41 and a debt-to-equity ratio of 0.11. EPAM Systems has a fifty-two week low of $104.77 and a fifty-two week high of $180.55.

EPAM Systems (NYSE:EPAM) last issued its earnings results on Thursday, May 9th. The information technology services provider reported $1.25 EPS for the quarter, beating the consensus estimate of $0.92 by $0.33. The company had revenue of $521.30 million during the quarter, compared to analysts’ expectations of $519.11 million. EPAM Systems had a net margin of 12.19% and a return on equity of 19.56%. The business’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.93 EPS. As a group, equities research analysts expect that EPAM Systems will post 4.24 earnings per share for the current fiscal year.

Several brokerages have weighed in on EPAM. Wedbush reiterated an “outperform” rating and issued a $180.00 price objective (up previously from $158.00) on shares of EPAM Systems in a research note on Wednesday, May 8th. 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 note on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the stock. EPAM Systems currently has a consensus rating of “Buy” and an average price target of $160.00.

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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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