Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. EPAM Systems Inc shares valued at $2,791,581 were sold by Dobkin Arkadiy on Mar 15 ’24. At $300.17 per share, Dobkin Arkadiy sold 9,300 shares. The insider’s holdings dropped to 1,275,311 shares worth approximately $352.46 million following the completion of this transaction.
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Also, Dobkin Arkadiy sold 18,865 shares, netting a total of over 5,693,268 in proceeds. Following the sale of shares at $301.79 each, the insider now holds 1,223,611 shares.
Before that, Yezhkov Sergey had sold 8,000 shares from its account. In a trade valued at $2,416,320, the SVP/Co-Head of Global Business traded EPAM Systems Inc shares for $302.04 each. Upon closing the transaction, the insider’s holdings decreased to 8,000 shares, worth approximately $3.53 million.
As published in their initiating research note from Guggenheim on March 19, 2024, EPAM Systems Inc [EPAM] has been a Buy and the price target has been revised to $350. Analysts at Scotiabank upgraded the stock from ‘”a Sector perform”‘ to ‘”a Sector outperform”‘ outlook in a report released in mid February. As of January 30, 2024, Mizuho has initiated its “Buy” rating for EPAM. Earlier on January 24, 2024, Morgan Stanley downgraded its rating. Their new recommendation was “an Underweight” for EPAM stock which previously was a “an Equal-weight”.
Analyzing EPAM Stock Performance
During the last five days, there has been a drop of approximately -5.53%. Over the course of the year, EPAM Systems Inc shares have dropped approximately -7.05%. Shares of the company reached a 52-week high of $317.50 on 03/08/24 and a 52-week low of $266.29 on 03/25/24. A 50-day SMA is recorded $294.30, while a 200-day SMA reached $261.65. Nevertheless, trading volume fell to 0.58 million shares from 0.66 million shares the previous day.
Support And Resistance Levels for EPAM Systems Inc (EPAM)
According to the 24-hour chart, there is a support level at 272.70, which, if violated, would cause prices to drop to 269.04. In the upper region, resistance lies at 278.28. The next price resistance is at 280.20. RSI (Relative Strength Index) is 38.06 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -20.38, which suggests the price will decrease in the coming days. Percent R is at 80.32%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is EPAM Systems Inc subject to short interest?
Stocks of EPAM Systems Inc saw a sharp steep in short interest on Feb 29, 2024 dropping by -0.16 million shares to 0.77 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 0.93 million shares. A decline of -21.01% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.37 of the overall float, the days-to-cover ratio (short ratio) decline to 1.37.
