EPAM Systems Inc (NYSE:EPAM) saw a significant decrease in short interest in the month of July. As of July 31st, there was short interest totalling 824,900 shares, a decrease of 16.8% from the June 30th total of 991,900 shares. Currently, 1.6% of the company’s shares are sold short. Based on an average daily trading volume, of 501,200 shares, the short-interest ratio is currently 1.6 days.
In other news, CEO Arkadiy Dobkin sold 15,000 shares of the stock in a transaction dated Monday, May 20th. The stock was 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 owns 1,713,490 shares of the company’s stock, valued at $284,662,093.70. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Gary C. Abrahams sold 361 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $177.16, for a total value of $63,954.76. Following the completion of the sale, the vice president now directly owns 2,710 shares of the company’s stock, valued at approximately $480,103.60. The disclosure for this sale can be found here. In the last three months, insiders sold 337,189 shares of company stock valued at $58,783,622. Insiders own 5.30% of the company’s stock.
A number of large investors have recently made changes to their positions in EPAM. Invesco Ltd. boosted its holdings in EPAM Systems by 68.6% in the second quarter. Invesco Ltd. now owns 2,337,667 shares of the information technology services provider’s stock worth $404,650,000 after acquiring an additional 950,958 shares in the last quarter. BlackRock Inc. boosted its holdings in EPAM Systems by 24.4% in the second quarter. BlackRock Inc. now owns 2,857,844 shares of the information technology services provider’s stock worth $494,692,000 after acquiring an additional 560,378 shares in the last quarter. Marshall Wace LLP bought a new position in EPAM Systems in the second quarter worth approximately $83,602,000. AQR Capital Management LLC boosted its holdings in EPAM Systems by 419.6% in the second quarter. AQR Capital Management LLC now owns 523,106 shares of the information technology services provider’s stock worth $90,027,000 after acquiring an additional 422,425 shares in the last quarter. Finally, Nuveen Asset Management LLC bought a new position in EPAM Systems in the second quarter worth approximately $46,147,000. Institutional investors and hedge funds own 91.42% of the company’s stock.
EPAM Systems (NYSE:EPAM) last announced its quarterly earnings results on Thursday, August 8th. The information technology services provider reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.08. The business had revenue of $551.60 million for the quarter, compared to analyst estimates of $549.84 million. EPAM Systems had a return on equity of 19.49% and a net margin of 11.98%. The company’s quarterly revenue was up 23.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.01 earnings per share. As a group, analysts expect that EPAM Systems will post 4.36 EPS for the current year.
Several equities research analysts recently commented on the company. Zacks Investment Research upgraded EPAM Systems from a “hold” rating to a “buy” rating and set a $199.00 target price on the stock in a research report on Wednesday. Wedbush restated an “outperform” rating and set a $180.00 target price (up previously from $158.00) on shares of EPAM Systems in a research report on Wednesday, May 8th. Cowen upped their target price on EPAM Systems from $180.00 to $210.00 and gave the company a “positive” rating in a research report on Wednesday, July 24th. They noted that the move was a valuation call. Finally, Cantor Fitzgerald upped their target price on EPAM Systems from $187.00 to $212.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $173.10.
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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