EPAM Systems, Inc. (NYSE:EPAM) Short Interest Up 29.9% in April

EPAM Systems, Inc. (NYSE:EPAM) was the target of a significant growth in short interest in April. As of April 15th, there was short interest totalling 1,650,000 shares, a growth of 29.9% from the March 31st total of 1,270,000 shares. Based on an average daily volume of 752,100 shares, the days-to-cover ratio is currently 2.2 days. Approximately 3.0% of the company’s stock are short sold.

Institutional Investors Weigh In On EPAM Systems

Several hedge funds and other institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC raised its stake in EPAM Systems by 90.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 54 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of EPAM Systems by 2,500.0% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 130 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 125 shares during the last quarter. TD Private Client Wealth LLC grew its stake in EPAM Systems by 88.5% during the 4th quarter. TD Private Client Wealth LLC now owns 147 shares of the information technology services provider’s stock worth $34,000 after buying an additional 69 shares during the last quarter. Versant Capital Management Inc acquired a new position in EPAM Systems during the fourth quarter worth approximately $35,000. Finally, Sentry Investment Management LLC purchased a new stake in EPAM Systems in the first quarter valued at approximately $33,000. Institutional investors and hedge funds own 91.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Scotiabank decreased their target price on shares of EPAM Systems from $250.00 to $200.00 and set a “sector outperform” rating for the company in a research report on Tuesday, April 29th. Needham & Company LLC restated a “buy” rating and set a $265.00 target price on shares of EPAM Systems in a research note on Thursday, February 20th. Stifel Nicolaus dropped their target price on shares of EPAM Systems from $275.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday. Susquehanna cut their price target on shares of EPAM Systems from $270.00 to $210.00 and set a “positive” rating on the stock in a research note on Wednesday, April 23rd. Finally, Barclays dropped their price objective on shares of EPAM Systems from $270.00 to $200.00 and set an “overweight” rating on the stock in a report on Friday, April 25th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, EPAM Systems presently has a consensus rating of “Moderate Buy” and an average target price of $232.88.

EPAM Systems Stock Performance

Shares of EPAM Systems stock opened at $160.36 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.96 and a quick ratio of 4.56. The stock has a market capitalization of $9.15 billion, a price-to-earnings ratio of 20.45, a price-to-earnings-growth ratio of 3.38 and a beta of 1.71. The business has a 50-day moving average of $169.62 and a 200 day moving average of $212.13. EPAM Systems has a 12 month low of $138.15 and a 12 month high of $269.00.

EPAM Systems (NYSE:EPAM) last released its earnings results on Thursday, February 20th. The information technology services provider reported $2.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.75 by ($0.52). EPAM Systems had a return on equity of 14.60% and a net margin of 9.61%. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.21 billion. As a group, sell-side analysts forecast that EPAM Systems will post 8.9 earnings per share for the current year.

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.