Short Interest in EPAM Systems, Inc. (NYSE:EPAM) Increases By 37.7%

EPAM Systems, Inc. (NYSE:EPAM) was the recipient of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 780,400 shares, a growth of 37.7% from the January 15th total of 566,600 shares. Based on an average daily volume of 632,100 shares, the days-to-cover ratio is currently 1.2 days. Approximately 1.4% of the shares of the stock are sold short.

EPAM Systems Price Performance

Shares of NYSE:EPAM traded down $1.42 during midday trading on Friday, reaching $266.21. 387,209 shares of the company’s stock were exchanged, compared to its average volume of 511,176. The company’s 50 day simple moving average is $244.09 and its two-hundred day simple moving average is $221.14. The firm has a market capitalization of $15.10 billion, a PE ratio of 34.57, a price-to-earnings-growth ratio of 3.96 and a beta of 1.51. EPAM Systems has a 12 month low of $169.43 and a 12 month high of $317.50. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 4.56.

Analysts Set New Price Targets

Several equities analysts recently weighed in on EPAM shares. Itau BBA Securities upgraded EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 price target for the company in a research note on Friday, November 8th. Susquehanna lifted their price objective on EPAM Systems from $240.00 to $270.00 and gave the stock a “positive” rating in a report on Friday, November 8th. Barclays upgraded EPAM Systems from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $250.00 to $290.00 in a report on Tuesday, December 17th. Needham & Company LLC boosted their target price on EPAM Systems from $215.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, StockNews.com upgraded EPAM Systems from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, EPAM Systems has a consensus rating of “Moderate Buy” and a consensus target price of $269.83.

Insider Activity

In related news, SVP Viktar Dvorkin sold 6,758 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $256.53, for a total value of $1,733,629.74. Following the sale, the senior vice president now directly owns 13,000 shares in the company, valued at approximately $3,334,890. The trade was a 34.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jason D. Peterson sold 464 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $257.00, for a total value of $119,248.00. Following the transaction, the chief financial officer now owns 24,372 shares in the company, valued at $6,263,604. The trade was a 1.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,300 shares of company stock worth $2,129,924. 4.30% of the stock is currently owned by insiders.

Institutional Trading of EPAM Systems

Institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of EPAM Systems during the 4th quarter worth approximately $173,053,000. William Blair Investment Management LLC bought a new stake in EPAM Systems in the fourth quarter valued at approximately $166,906,000. Marshall Wace LLP grew its stake in EPAM Systems by 126.4% in the fourth quarter. Marshall Wace LLP now owns 769,584 shares of the information technology services provider’s stock worth $179,944,000 after purchasing an additional 429,644 shares during the period. Capital World Investors grew its stake in shares of EPAM Systems by 22.0% in the fourth quarter. Capital World Investors now owns 2,304,243 shares of the information technology services provider’s stock worth $538,778,000 after acquiring an additional 414,942 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in EPAM Systems by 96.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 818,881 shares of the information technology services provider’s stock valued at $191,471,000 after acquiring an additional 401,355 shares during the period. Institutional investors own 91.58% of the company’s stock.

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.