EPAM Systems, Inc. (NYSE:EPAM) Short Interest Down 8.8% in November

EPAM Systems, Inc. (NYSE:EPAM) was the recipient of a significant decrease in short interest during the month of November. As of November 15th, there was short interest totalling 694,400 shares, a decrease of 8.8% from the October 31st total of 761,600 shares. Currently, 1.3% of the company’s stock are short sold. Based on an average daily trading volume, of 622,200 shares, the days-to-cover ratio is currently 1.1 days.

EPAM Systems Trading Down 1.4 %

EPAM Systems stock traded down $3.32 during midday trading on Tuesday, hitting $240.47. 602,377 shares of the stock were exchanged, compared to its average volume of 620,450. EPAM Systems has a fifty-two week low of $169.43 and a fifty-two week high of $317.50. The stock has a market capitalization of $13.64 billion, a price-to-earnings ratio of 31.23, a PEG ratio of 3.73 and a beta of 1.49. The stock’s 50-day simple moving average is $212.10 and its 200 day simple moving average is $200.05. The company has a current ratio of 4.56, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01.

EPAM Systems declared that its Board of Directors has authorized a stock buyback program on Thursday, August 8th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the information technology services provider to reacquire up to 4.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Mizuho lifted their price target on shares of EPAM Systems from $245.00 to $282.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. StockNews.com upgraded shares of EPAM Systems from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Piper Sandler lifted their price target on shares of EPAM Systems from $225.00 to $258.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Needham & Company LLC boosted their price target on shares of EPAM Systems from $215.00 to $265.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Scotiabank upgraded shares of EPAM Systems from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $245.00 to $275.00 in a research note on Monday, November 11th. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $264.20.

Insider Activity

In other news, CFO Jason D. Peterson sold 1,000 shares of EPAM Systems stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $237.00, for a total transaction of $237,000.00. Following the transaction, the chief financial officer now owns 24,836 shares in the company, valued at $5,886,132. This trade represents a 3.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. ORG Partners LLC boosted its stake in EPAM Systems by 5,000.0% during the second quarter. ORG Partners LLC now owns 153 shares of the information technology services provider’s stock worth $28,000 after buying an additional 150 shares during the period. Opal Wealth Advisors LLC purchased a new position in shares of EPAM Systems in the second quarter valued at approximately $29,000. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of EPAM Systems by 181.8% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 155 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 100 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of EPAM Systems by 101.0% in the third quarter. Farther Finance Advisors LLC now owns 211 shares of the information technology services provider’s stock valued at $42,000 after purchasing an additional 106 shares during the period. Finally, Capital Performance Advisors LLP purchased a new position in shares of EPAM Systems in the third quarter valued at approximately $44,000. Hedge funds and other 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.