On April 21, 2023, EPAM Systems Inc. disclosed a significant increase in short interest for the month of March. According to reports, the short interest totaled approximately 816,200 shares at the end of March. This represents an increase of around 7.9% from the total short interest of 756,400 shares recorded as at March 15th 2023. With this growth trend evident, it is an indication that investors are betting heavily against the stock’s prospects.
Based on its average daily trading volume of approximately 446,900 shares as at the end of March and taking into account the current level of short interest on their stock, EPAM Systems has a short-interest ratio of about 1.8 days.
A few research analysts have also commented on EPAM Systems Inc.’s prospects recently. Susquehanna lowered their target price on the company’s shares from $462 to $410 and rated it positively. Conversely, Morgan Stanley lowered its price objective from $410 to $400 for EPAM and maintained an overweight rating for their shares.
Needham & Company LLC however raised their price objective for EPAM from $400 to $415 and awarded them a buy rating in a recent report released about their share valuation. Barclays had different opinions by lowering their price objective from $400 to $380 but still rated it favourably with an overweight rating given what they considered good potential returns.
From Bloomberg.com reports citing several sources within many circles investing in EPAM shares describe a moderation outlook with a consensus “Moderate Buy” rating and an average target-price value set at around $403.
In terms of investors who’ve made changes recently during these times in regard to buying or selling optimistically or not so optimistically with concern to EPAM Systems: Cetera Advisor Networks (LLC) stake was increased by around 36% during Q1 while Private Advisor Group (LLC) reported a 14.4% stake increase during Q1, both in favour of improved long term rewards.
Panagora Asset Management raised its stake by up to 100.7% during the same period while Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased theirs by around 6.6%. Finally, Blair William & Co. IL reports their recently increased stake within EPAM Systems sees them currently holding 17,528 shares worth approximately $5,199,000.
Incorpated in 1993, EPAM Systems engages with software product development and digital platform engineering services worldwide via three distinguished geographical segments; North America, Europe and Russia with headquarters situated at Newtown, PA.
EPAM Systems: A Leading Player in the Tech Industry’s Growth and Transformation
The tech industry has witnessed tremendous growth and transformation over the years, driven by innovations in data analytics, artificial intelligence, cloud computing, and other emerging technologies. One of such companies that have established a stronghold in the market is EPAM systems (NYSE:EPAM), an information technology services provider known for providing cutting-edge digital solutions to businesses across various industries.
On Friday, shares of EPAM opened at $282.33, bolstered by the impressive performance the company has shown over the years. With a market capitalization of $16.28 billion and a beta of 1.57, EPAM Systems’ stock has consistently outperformed the broader market index over time.
The company’s financials further attest to its position as a leading player in the tech sector. With a debt-to-equity ratio of only 0.01 and quick and current ratios both at 3.69 respectively, it’s quite evident that EPAM has managed its finances efficiently amidst challenges posed by global economic uncertainties.
Analysts are projecting that EPAM will post an impressive earnings per share (EPS) value of 9.2 this year based on previous performances—the company delivered remarkable results during its quarterly earnings recently released on February 16th, where they beat analyst consensus estimates with $2.71 EPS against $2.23 projections.
Despite all these accolades, EPAM’s fifty-day moving average price sits at $301.44 with its two-hundred day moving average being $327.46 – figures indicating some relative fluctuations that may threaten investors’ confidence in the short term.
Despite fluctuating figures, there isn’t much reason for alarm as EPAM Systems continues to maintain its leading position in technology consulting globally with expertise in engineering software platforms using open-source technologies and advanced data analytics.
In conclusion, considering other major players such as AWS Consulting Partners or DevOps service providers like JFrog Software Inc., companies looking to take advantage of emerging digital trends should keep an eye out for EPAM Systems as it continues its upward trajectory in a fast-evolving digital world.