EPAM Systems Inc (EPAM) Short Interest Up 62.9% in November

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

Shares of NYSE:EPAM opened at $130.31 on Wednesday. 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 has a one year low of $96.11 and a one year high of $144.19. The firm has a market capitalization of $7.03 billion, a price-to-earnings ratio of 45.72, a PEG ratio of 1.94 and a beta of 1.30.

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

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

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in EPAM Systems by 2.7% in the 3rd quarter. Vanguard Group Inc. now owns 4,447,536 shares of the information technology services provider’s stock valued at $612,425,000 after purchasing an additional 117,376 shares during the period. Morgan Stanley boosted its holdings in EPAM Systems by 7.2% in the 3rd quarter. Morgan Stanley now owns 5,793,689 shares of the information technology services provider’s stock valued at $797,790,000 after purchasing an additional 388,438 shares during the period. AQR Capital Management LLC boosted its holdings in EPAM Systems by 302.9% in the 3rd quarter. AQR Capital Management LLC now owns 104,717 shares of the information technology services provider’s stock valued at $14,419,000 after purchasing an additional 78,728 shares during the period. Mackenzie Financial Corp bought a new position in EPAM Systems in the 3rd quarter valued at $2,134,000. Finally, Advisors Asset Management Inc. boosted its holdings in EPAM Systems by 7.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 19,003 shares of the information technology services provider’s stock valued at $2,617,000 after purchasing an additional 1,394 shares during the period. 92.56% of the stock is owned by hedge funds and other institutional investors.

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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.

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