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

EPAM Systems Inc (NYSE:EPAM) was the recipient of a significant decrease in short interest during the month of June. As of June 30th, there was short interest totalling 1,004,000 shares, a decrease of 10.8% from the May 30th total of 1,125,700 shares. Based on an average daily trading volume, of 488,200 shares, the days-to-cover ratio is currently 2.1 days. Currently, 1.9% of the company’s stock are sold short.

Shares of NYSE EPAM traded up $2.58 during mid-day trading on Friday, hitting $193.63. The company had a trading volume of 412,577 shares, compared to its average volume of 424,760. The company has a debt-to-equity ratio of 0.11, a quick ratio of 4.41 and a current ratio of 4.41. The firm’s 50-day moving average price is $174.79. EPAM Systems has a 12 month low of $104.77 and a 12 month high of $193.80. The company has a market cap of $10.58 billion, a price-to-earnings ratio of 49.52, a P/E/G ratio of 2.30 and a beta of 1.41.

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

Several equities research analysts have recently issued reports on EPAM shares. Wedbush reaffirmed an “outperform” rating on shares of Purple Innovation in a research report on Wednesday, May 8th. Zacks Investment Research downgraded ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $161.56.

In other news, VP Gary C. Abrahams sold 361 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $177.16, for a total value of $63,954.76. Following the sale, the vice president now directly owns 2,710 shares of the company’s stock, valued at $480,103.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Arkadiy Dobkin sold 15,000 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $166.13, for a total value of $2,491,950.00. Following the completion of the sale, the chief executive officer now directly owns 1,713,490 shares in the company, valued at $284,662,093.70. The disclosure for this sale can be found here. Insiders have sold 362,189 shares of company stock worth $63,001,372 over the last three months. Company insiders own 5.30% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Penserra Capital Management LLC bought a new stake in shares of EPAM Systems in the first quarter valued at about $37,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of EPAM Systems in the first quarter valued at about $85,000. Meeder Asset Management Inc. lifted its stake in shares of EPAM Systems by 1,227.5% in the first quarter. Meeder Asset Management Inc. now owns 677 shares of the information technology services provider’s stock valued at $115,000 after buying an additional 626 shares during the period. Quantamental Technologies LLC bought a new stake in shares of EPAM Systems in the first quarter valued at about $169,000. Finally, Oakbrook Investments LLC bought a new stake in shares of EPAM Systems in the first quarter valued at about $228,000. Institutional investors and hedge funds own 90.80% of the company’s stock.

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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