Short Interest in EPAM Systems, Inc. (NYSE:EPAM) Declines By 8.8%

EPAM Systems, Inc. (NYSE:EPAM) was the recipient of a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 694,400 shares, a decrease of 8.8% from the October 31st total of 761,600 shares. Currently, 1.3% of the shares of the company are short sold. Based on an average daily trading volume, of 622,200 shares, the short-interest ratio is presently 1.1 days.

EPAM Systems Price Performance

EPAM stock opened at $240.47 on Wednesday. The company has a market capitalization of $13.64 billion, a P/E ratio of 31.23, a price-to-earnings-growth ratio of 3.73 and a beta of 1.49. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 4.56. EPAM Systems has a 52-week low of $169.43 and a 52-week high of $317.50. The business has a 50-day simple moving average of $212.90 and a two-hundred day simple moving average of $200.42.

EPAM Systems declared that its board has approved a stock repurchase plan on Thursday, August 8th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to buy up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

EPAM has been the topic of a number of recent research reports. Scotiabank upgraded EPAM Systems from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $245.00 to $275.00 in a research note on Monday, November 11th. StockNews.com raised EPAM Systems from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Jefferies Financial Group raised their price objective on EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 9th. Deutsche Bank Aktiengesellschaft began coverage on EPAM Systems in a research report on Thursday, August 22nd. They set a “hold” rating and a $204.00 target price for the company. Finally, Itau BBA Securities raised EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 target price for the company in a research report on Friday, November 8th. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $264.20.

Insider Buying and Selling at EPAM Systems

In other EPAM Systems news, CFO Jason D. Peterson sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $237.00, for a total value of $237,000.00. Following the sale, the chief financial officer now owns 24,836 shares in the company, valued at $5,886,132. This represents a 3.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On EPAM Systems

Several institutional investors have recently bought and sold shares of the company. ORG Partners LLC raised its holdings in EPAM Systems by 5,000.0% during the 2nd quarter. ORG Partners LLC now owns 153 shares of the information technology services provider’s stock valued at $28,000 after acquiring an additional 150 shares during the period. Opal Wealth Advisors LLC bought a new stake in EPAM Systems during the 2nd quarter valued at $29,000. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in EPAM Systems by 181.8% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 155 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 100 shares during the period. Farther Finance Advisors LLC raised its holdings in EPAM Systems by 101.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 211 shares of the information technology services provider’s stock valued at $42,000 after acquiring an additional 106 shares during the period. Finally, Capital Performance Advisors LLP bought a new stake in EPAM Systems during the 3rd quarter valued at $44,000. Hedge funds and other institutional investors own 91.58% of the company’s stock.

EPAM Systems Company Profile

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.