Short Interest in EPAM Systems, Inc. (NYSE:EPAM) Rises By 78.5%

EPAM Systems, Inc. (NYSE:EPAMGet Rating) saw a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 1,390,000 shares, a growth of 78.5% from the March 15th total of 778,600 shares. Approximately 2.5% of the company’s shares are short sold. Based on an average daily volume of 1,400,000 shares, the days-to-cover ratio is currently 1.0 days.

Several research analysts have recently issued reports on EPAM shares. Barclays reduced their target price on shares of EPAM Systems from $770.00 to $555.00 in a research note on Tuesday, February 22nd. Morgan Stanley reduced their target price on shares of EPAM Systems from $830.00 to $450.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 5th. Bank of America downgraded shares of EPAM Systems from a “buy” rating to a “neutral” rating in a research report on Monday, February 28th. Cowen cut their price target on shares of EPAM Systems from $615.00 to $355.00 in a research report on Thursday, March 3rd. Finally, TheStreet downgraded shares of EPAM Systems from a “b” rating to a “c+” rating in a research report on Friday, February 25th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $466.45.

EPAM stock traded down $17.93 during mid-day trading on Friday, hitting $290.06. 664,713 shares of the company were exchanged, compared to its average volume of 1,182,327. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.97 and a current ratio of 2.97. The firm has a market cap of $16.50 billion, a P/E ratio of 35.59, a P/E/G ratio of 6.98 and a beta of 1.81. The firm’s 50 day simple moving average is $311.36 and its 200 day simple moving average is $503.04. EPAM Systems has a 1-year low of $168.59 and a 1-year high of $725.40.

EPAM Systems (NYSE:EPAMGet Rating) last announced its earnings results on Thursday, February 17th. The information technology services provider reported $2.50 EPS for the quarter, topping the consensus estimate of $2.11 by $0.39. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.09 billion. EPAM Systems had a net margin of 12.82% and a return on equity of 21.10%. The business’s quarterly revenue was up 53.0% on a year-over-year basis. During the same period last year, the company posted $1.59 EPS. On average, equities research analysts predict that EPAM Systems will post 7.72 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its holdings in shares of EPAM Systems by 31.1% in the fourth quarter. BlackRock Inc. now owns 4,644,619 shares of the information technology services provider’s stock valued at $3,104,696,000 after purchasing an additional 1,102,837 shares during the last quarter. Morgan Stanley grew its stake in shares of EPAM Systems by 0.9% in the third quarter. Morgan Stanley now owns 4,586,951 shares of the information technology services provider’s stock valued at $2,616,763,000 after buying an additional 41,703 shares in the last quarter. State Street Corp grew its stake in shares of EPAM Systems by 80.3% in the fourth quarter. State Street Corp now owns 2,265,288 shares of the information technology services provider’s stock valued at $1,514,232,000 after buying an additional 1,008,720 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of EPAM Systems by 30.6% in the fourth quarter. Alliancebernstein L.P. now owns 1,318,132 shares of the information technology services provider’s stock valued at $881,105,000 after buying an additional 308,920 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of EPAM Systems by 15.1% in the fourth quarter. Invesco Ltd. now owns 1,248,638 shares of the information technology services provider’s stock valued at $834,651,000 after buying an additional 163,752 shares in the last quarter. Institutional investors own 92.65% of the company’s stock.

EPAM Systems Company Profile (Get Rating)

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, 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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