EPAM Systems, Inc. (NYSE:EPAM) Short Interest Up 45.9% in May

EPAM Systems, Inc. (NYSE:EPAM) saw a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 1,170,000 shares, a growth of 45.9% from the May 15th total of 801,800 shares. Based on an average daily trading volume, of 678,700 shares, the days-to-cover ratio is presently 1.7 days. Currently, 2.1% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on EPAM shares. Citigroup cut their price target on shares of EPAM Systems from $325.00 to $275.00 and set a “neutral” rating on the stock in a report on Monday, April 22nd. Needham & Company LLC cut their price objective on EPAM Systems from $350.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Wedbush reissued an “outperform” rating and set a $340.00 target price on shares of EPAM Systems in a research report on Wednesday, April 10th. TD Cowen dropped their price target on shares of EPAM Systems from $282.00 to $203.00 and set a “hold” rating on the stock in a research report on Friday, May 10th. Finally, Piper Sandler decreased their price objective on shares of EPAM Systems from $252.00 to $230.00 and set an “overweight” rating for the company in a research report on Thursday. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $276.35.

Institutional Trading of EPAM Systems

A number of institutional investors and hedge funds have recently modified their holdings of the business. Benjamin F. Edwards & Company Inc. bought a new stake in EPAM Systems in the fourth quarter worth about $25,000. Riverview Trust Co bought a new stake in shares of EPAM Systems in the first quarter valued at $29,000. VisionPoint Advisory Group LLC lifted its position in shares of EPAM Systems by 103.0% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 136 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 69 shares during the last quarter. Principal Securities Inc. bought a new position in shares of EPAM Systems during the 4th quarter worth $43,000. Finally, Westpac Banking Corp increased its holdings in EPAM Systems by 151.4% in the 4th quarter. Westpac Banking Corp now owns 176 shares of the information technology services provider’s stock worth $52,000 after acquiring an additional 106 shares during the last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

EPAM Systems Stock Down 0.2 %

Shares of EPAM stock traded down $0.38 during trading hours on Friday, reaching $177.58. The company had a trading volume of 674,327 shares, compared to its average volume of 671,785. The business has a fifty day simple moving average of $212.83 and a 200-day simple moving average of $262.94. EPAM Systems has a 12 month low of $172.95 and a 12 month high of $317.50. The company has a market cap of $10.29 billion, a price-to-earnings ratio of 24.29, a price-to-earnings-growth ratio of 4.11 and a beta of 1.42. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.68 and a quick ratio of 4.68.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings data on Thursday, May 9th. The information technology services provider reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.09. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. EPAM Systems had a return on equity of 14.95% and a net margin of 9.28%. On average, research analysts expect that EPAM Systems will post 7.81 earnings per share for the current fiscal year.

About EPAM Systems

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.