EPAM Systems Inc (EPAM) Short Interest Update

EPAM Systems Inc (NYSE:EPAM) was the target of a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 823,320 shares, a growth of 62.9% from the October 31st total of 505,414 shares. Approximately 1.6% of the company’s stock are short sold. Based on an average daily trading volume, of 429,319 shares, the days-to-cover ratio is presently 1.9 days.

Shares of EPAM Systems stock opened at $127.91 on Friday. EPAM Systems has a 1 year low of $97.78 and a 1 year high of $144.19. The firm has a market cap of $7.04 billion, a PE ratio of 44.88, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. The company has a quick ratio of 5.11, a current ratio of 5.11 and a debt-to-equity ratio of 0.02.

EPAM Systems (NYSE:EPAM) last announced its earnings results on Thursday, November 1st. The information technology services provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.33. EPAM Systems had a return on equity of 19.19% and a net margin of 8.60%. The firm had revenue of $468.20 million during the quarter, compared to analyst estimates of $466.97 million. During the same period last year, the firm posted $0.92 EPS. The business’s revenue was up 24.0% compared to the same quarter last year. Equities analysts expect that EPAM Systems will post 3.43 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the company. OppenheimerFunds Inc. bought a new position in shares of EPAM Systems during the 3rd quarter worth $195,951,000. Capital World Investors grew its stake in shares of EPAM Systems by 78.8% during the 3rd quarter. Capital World Investors now owns 2,070,917 shares of the information technology services provider’s stock worth $285,165,000 after acquiring an additional 912,555 shares during the period. Millennium Management LLC grew its stake in shares of EPAM Systems by 433.5% during the 2nd quarter. Millennium Management LLC now owns 489,853 shares of the information technology services provider’s stock worth $60,903,000 after acquiring an additional 398,027 shares during the period. Morgan Stanley grew its stake in shares of EPAM Systems by 7.2% during the 3rd quarter. Morgan Stanley now owns 5,793,689 shares of the information technology services provider’s stock worth $797,790,000 after acquiring an additional 388,438 shares during the period. Finally, Franklin Resources Inc. grew its stake in shares of EPAM Systems by 877.1% during the 3rd quarter. Franklin Resources Inc. now owns 366,400 shares of the information technology services provider’s stock worth $50,453,000 after acquiring an additional 328,900 shares during the period. 92.56% of the stock is owned by hedge funds and other institutional investors.

EPAM has been the subject of a number of analyst reports. Citigroup increased their price target on EPAM Systems from $142.00 to $153.00 and gave the company a “buy” rating in a research report on Friday, October 5th. JPMorgan Chase & Co. increased their price target on EPAM Systems from $152.00 to $157.00 and gave the company an “overweight” rating in a research report on Friday, November 2nd. KeyCorp lowered their price target on EPAM Systems from $146.00 to $144.00 and set an “overweight” rating for the company in a research report on Friday, November 2nd. Bank of America lowered EPAM Systems from a “buy” rating to a “neutral” rating and increased their price target for the company from $134.00 to $147.00 in a research report on Tuesday, September 4th. Finally, Jefferies Financial Group initiated coverage on EPAM Systems in a research report on Tuesday, November 20th. They issued a “hold” rating and a $134.00 price target for the company. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $142.60.

TRADEMARK VIOLATION WARNING: This story was originally posted by WKRB News and is the sole property of of WKRB News. If you are reading this story on another website, it was illegally copied and reposted in violation of US and international copyright and trademark laws. The original version of this story can be read at https://www.wkrb13.com/2018/12/07/epam-systems-inc-epam-short-interest-update.html.

About EPAM Systems

EPAM Systems, Inc provides software product development and digital platform engineering services primarily in North America, Europe, Asia, and Australia. It offers software product development services, including product research, customer experience design, prototyping, program management, component design and integration, lifecycle software testing, product deployment, end-user customization, performance tuning, product support and maintenance, managed services, and porting and cross-platform migration.

Featured Story: What is the Rule of 72?

Receive News & Ratings for EPAM Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EPAM Systems and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply